Survey Uncovers Most Common Car-Buying Objections

ORANGE COUNTY, Calif. — An informal online survey conducted by Joe Verde Sales & Management Training Inc. found that the most common car-buying objection (37%) before the salesperson has a commitment was: “I’ll think it over and get back to you.” The survey, conducted in 2013, garnered responses from 153 salespeople.

After the salesperson has a commitment and is negotiating, the three most common objections are: “I’ll think it over and get back to you” and “payments are two high” (both at 20%), and “not enough for my trade” at 19%.
 
The survey asked: “What is your most common car buying objection today before you have a commitment?” Here’s a list of responses by percentage:

• “I’ll think it over and get back to you”: 37%
• “I want to shop the competition”: 25%
• “Not enough for my trade”: 9%
• “I need to check with someone else”: 7%
• “It’s too much money”: 7%
• “I can buy it for less down the street”: 7%
• “I’m not sure this is the right vehicle for us”: 4%
• “The payments are too high”: 3%
• “I don’t have any more to put down”: 1%

 
For comparison purposes, the survey also asked: “What is your most common objection from car buyers today after you have a commitment and are negotiating?” Here’s are the top responses by percentage:

• “I’ll think it over and get back to you”: 20%
• “Payments are too high”: 20%
• “Not enough for my trade”: 19%
• “The price is too high”: 14%
• “I need to check with someone else”: 12%
• “I can buy it down the street for less”: 8%
• “Too much down payment”: 5%
• “Term too big”: 1%
• “I’m not sure if this is the right vehicle for us”: 1%

The same survey questions were posted on the site in 2012 and 156 people responded to each. The most common objection received by salesperson before they have a commitment was, again, “I’ll think it over and get back to you.” However, the response was almost double at 38%.

The question “What is your most common objection from car buyers today after you have a commitment and are negotiating?” had slightly different responses in 2012 versus 2013. The top response was “not enough for my trade” at 23%, followed by “payments are too high” at 19%, and “the price is too high” at 17%. “I’ll think it over and get back to you” was in fourth place at 15%.

“People tell you ‘No’ a lot when you’re closing. They’re nervous about spending 20 or 30 grand, and they didn’t know you, like you or trust you an hour ago,” said Joe Verde, president of Joe Verde Sales & Management Training, Inc. “So saying ‘Yes’ in just an hour means really going out on a limb for most customers.

“That’s why you have to make it as easy as possible for them to agree to purchase. If you close correctly, you’ll never ask the standard ‘Will you buy today’ question. Not only that, your negotiation will be about helping themfit this new vehicle they love into their budget, instead of whether you can ‘make them a deal today.’"

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Resource: 
Survey Uncovers Most Common Car-Buying Objections
Survey Uncovers Most Common Car-Buying Objections