Sales tip: Extending credit wisely

Nov. 27, 2013
Knowing how much credit to extend a customer is an important part of the job that Cornwell Dealer Shane Sutton knows all about

Knowing how much credit to extend a customer is an important part of the job that Cornwell Dealer Shane Sutton knows all about. Knowing which customers to extend credit to is a skill that a dealer acquires with time. Sutton tries to offer flexible payment plans with customers, as he has learned that customers appreciate this. One customer recently wanted scan tool that cost nearly $600. Sutton agreed to accept $100 in weekly payments.

The most important thing Sutton learned as a district manager is the importance of taking the time needed to do everything the right way. A tool dealer simply cannot take short cuts. This is what separates the successful dealers from the losers.

As his business grows, he will consider hiring someone to help him with orders, arranging displays and making special deliveries. "It would free up a lot of my time," he says.

Sutton's experience as a district manager also taught him the importance of education. This is a key reason he attends the Cornwell Expo every year.

"The amount of money I make is up to me," he says. "I don't have anybody holding me back. If I don't do well in this business, it's my own fault."

Have a sales strategy or helpful hint you'd like to share? Send your "30-second sales seminar" to [email protected], and see your suggestion featured here!

Sponsored Recommendations

Learn how electronic parking brake actuators have replaced manual systems and now play a key role in advanced safety features like automatic emergency braking. This WIYB Training...
Not all fuel injectors are created equal. In this WIYB Training Series, we compare Standard® Fuel Injectors against OE, low-cost imports. See why precision engineering and rigorous...
Carrying active OEM subscriptions for all manufacturers is not possible for many shops. However, access to this software is required for certain modern vehicles and repairs, and...
Enhance your collision repair workflow with Autel’s IA900, a process-driven solution integrating precision alignment, bi-directional diagnostics, and ADAS calibration. Designed...

Voice Your Opinion!

To join the conversation, and become an exclusive member of Vehicle Service Pros, create an account today!