I’m curious to know if you are blowing up your commissions and wasting hours on the lot trying to upsell a customer who only cares about making his or her bank account happy?

I remember trying to close a deal with an old gentleman named Don Jose. Don Jose was what I qualified as a cheap buyer. He was on the lot looking for a vehicle for his granddaughter, but he didn’t care about what brand the vehicle was, how nice the car looked, or how good the safety features were. Don Jose just wanted to pay pennies for any piece of metal that rolled.

My big mistake... I spent hours trying to show him the value of a nicer sedan, instead of looking for cheaper options that he could choose from. Don Jose’s only focus was on price. Two weeks after his visit, a great trade-in arrived at the dealership. I called him immediately, but guess what? Don Jose told me he had already bought another vehicle somewhere else because it was even cheaper than the one I had in stock the day of his visit.

Today, I’ll share with you how the cheap buyer operates so you can stop spinning your wheels, get straight to the numbers, and lock down the sale before they walk across the street and buy from your competition.

Let's dive in.

The biggest mistake you can make with a cheap buyer is trying to build value in features they don't care about.

The cheap buyer shops strictly for price. They don’t care about the upgraded leather seats, the premium sound system, or the fancy navigation system that will take them from point A to point B. Cheap buyers are only looking to make their pocket and their bank account happy. They want to alleviate their immediate need right now with whatever product or service costs the least amount of money. The faster you get to the lowest price, the faster they will buy from you.

If you spend thirty minutes babbling about the vehicle's technology to a buyer who just wants a low monthly payment, you are actively losing the sale. They don't see a helpful sales associate, they see a sleazy salesperson trying to bump the price up.

Stop wasting their time and yours, and give the cheap buyer what they want.

What you consider a cheap vehicle might still be way too expensive for the cheap buyer sitting across from you.

You cannot assume their budget based on what you think a low price is. Investigate and ask questions. When dealing with a price-conscious customer, they are often operating out of a Stable "S" style frequency. When it comes to their finances, they want total predictability, security, and zero financial shocks to their monthly budget. They aren't trying to be difficult, they’re just trying to take care of their hard-earned cash.

To win the deal, you need to uncover their exact financial boundaries early in the conversation.

So, do this...

One last thing!

Cheap buyers need to feel like they are getting the absolute best deal available, which means they need choices.

Don’t just show them one cheap car and expect them to sign. Give them different options at different low prices so they can compare and feel like they are in control of the savings. When you approve and validate their desire to save money instead of fighting it, their defenses drop.

Take them straight to the low-priced side of the dealership, look at the fresh trade-ins that haven't even been fully detailed yet, and put them in the driver's seat of the lowest-priced vehicle that fits their basic need. Your goal as a pro sales associate is to solve your client’s problem ethically, close the deal, and move metal.

After I lost that deal to Don Jose, I realized I had to change my strategy. It took a while, but I was able to do it. When cheap buyers walked through the front door of the dealership, I didn't waste a single second trying to sell them on a nicer, newer car. I took them straight to the cheapest car we had on the lot, I gave them the price, and closed the deal in an hour or less.

What’s your story? What's the tightest budget a customer has ever thrown at you on the floor? Reply to this email and tell me how you handled it!

Knowing how to help the cheap buyer saves your time, but having the exact blueprints and negotiation scripts to close them fast is what makes you an Insider.

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