01 Dec How Bundles Can Be A Perfect Addition During the Chip Shortage
The chip shortage just keeps lingering and most industry experts are saying it could continue well into 2022. Social media shows pictures of near-empty lots and buyers nationwide are having to either choose a car they don’t really want or hang on to their old cars longer. It’s a once in a generation mess for sure.
Even with all this, is there an opportunity for F&I to change-up its approach and leverage this issue to sell more product? Many dealerships are reporting strong PVR even with low inventory powered in large part by used car sales as buyers are choosing ‘placeholder’ cars to tide them over until their new cars start coming back in.
So what about ancillary bundles? Are these a good fit now with fewer new cars to sell?
We think so.
Bundle for Everyone!
Preloading a comprehensive bundle including protections like alloy wheel, 24/7 roadside, PDR, interior/exterior, etc to every car as a Line 1 add can help set your deals apart in your market. If you offer this on every car, even for the units that have to be ordered (which many have to be now), your buyers may be more receptive to it now versus a few years ago.
Buyers are desperate and if they know that all those protections will be in place when their car comes in and for a reasonable price, all the better for them AND your dealership. It’s easy profits now for cars that come in later.
White Label It
Make sure you highlight this in every advertising channel, particularly online where your buyers will go first. White label the bundle to your dealership brand. Let buyers know that your store values the protections in the bundle and how it can help preserve trade in values for the future. Paint the picture that by putting your dealership name on it, you are giving your customers a unique value proposition that no other dealer in town offers. You may not have the cars on the lot yet but when you do, they will have a full suite of ancillary protection for a reasonable price.
Click here to learn more about how ExoBundle can be that suite of products to bolster your ‘Why Buy Here’ reputation in your local market. ExoBundle offers interior/exterior, key replacement, windshield protection, 24.7 roadside, alloy wheel protection, and PDR.