Dealer Customer Relationship Management Trivia Quiz
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- 1.
What is your goal when visiting a dealer for the first time?
- A.
To show them how much you know about the product
- B.
To explain the philosophy of how this is your business
- C.
To sign a dealer agreement
- D.
To get the dealer excited about doing business with United Auto Credit
Correct Answer
D. To get the dealer excited about doing business with United Auto CreditExplanation
The goal when visiting a dealer for the first time is to get them excited about doing business with United Auto Credit. This implies that the purpose is to create a positive impression and generate enthusiasm for establishing a business relationship with the company. It suggests that the focus is on building rapport, showcasing the benefits of working with United Auto Credit, and ultimately convincing the dealer to partner with them.Rate this question:
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- 2.
What kind of preparation should be done prior to visiting a dealership?
- A.
Pull an Auto Count report, if available
- B.
Check advertising websites (AutoTrader, Carsforsale, etc) to see if the dealership is listed
- C.
Check any previous history the dealer may have with United Auto Credit in DMS and the Dealer Scorecard
- D.
Check the dealer's inventory on their website
- E.
All of the above
Correct Answer
E. All of the aboveExplanation
Prior to visiting a dealership, it is recommended to do the following preparations: pull an Auto Count report if available, check advertising websites to see if the dealership is listed, check any previous history the dealer may have with United Auto Credit in DMS and the Dealer Scorecard, and check the dealer's inventory on their website. These steps ensure that the buyer has a comprehensive understanding of the dealership's reputation, inventory, and any potential issues that may arise during the purchasing process.Rate this question:
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- 3.
If a dealer wants to review the dealer agreement prior to signing, what do you want to accomplish first?
- A.
Refuse to leave the DA and explain you'll come back later.
- B.
Have the dealer send the agreement to their corporate attorney
- C.
Get the dealer excited to do business with UACC now. Don't leave the DA!!
- D.
Attempt to at least obtain as much of the dealer packet as possible
Correct Answer
C. Get the dealer excited to do business with UACC now. Don't leave the DA!!Explanation
The correct answer is to get the dealer excited to do business with UACC now and not leave the dealer agreement (DA). This implies that the first step should be to create enthusiasm and interest in the dealer about the business opportunity with UACC, rather than immediately refusing or seeking legal advice. By doing so, the dealer may be more willing to review and sign the agreement without delay.Rate this question:
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- 4.
When speaking to your dealer, what should you do after you greet them and introduce yourself?
- A.
Pitch the product
- B.
Q&A
- C.
Show them how much you know about their dealership
- D.
Attack other lenders
Correct Answer
B. Q&AExplanation
After greeting the dealer and introducing yourself, it is important to engage in a Q&A session. This allows you to ask questions and gather information about the dealer's needs, preferences, and requirements. It also demonstrates your interest in understanding their specific situation and tailoring your approach accordingly. By actively listening and engaging in a conversation, you can build rapport, establish trust, and gather valuable insights that will help you provide a more personalized and effective solution.Rate this question:
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- 5.
Which of the following are good examples of questions you can ask your dealer about other lenders?
- A.
What does the dealer like about their current lender(s)?
- B.
What about the other lender(s) frustrates the dealer?
- C.
What does the dealer currently want that the other lender(s) can't/won't provide?
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
All of the above options are good examples of questions you can ask your dealer about other lenders. By asking what the dealer likes about their current lender(s), you can gain insights into the positive aspects of working with that lender. Asking what frustrates the dealer about other lender(s) can help you understand the potential drawbacks or challenges involved. Lastly, inquiring about what the dealer currently wants that the other lender(s) can't or won't provide can provide valuable information about the dealer's specific needs and preferences.Rate this question:
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- 6.
What type of potential customer could the dealer have trouble financing?
- A.
Low FICO scores
- B.
Low income
- C.
Short job time
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
The dealer could have trouble financing potential customers with low FICO scores because a low credit score indicates a higher risk for the lender. Low income could also pose a challenge as it may affect the customer's ability to make regular payments. Additionally, short job time could be problematic as it may indicate instability in income and employment. Therefore, all of these factors combined could make it difficult for the dealer to secure financing for these potential customers.Rate this question:
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- 7.
During the Q&A session with the dealer, you should always do what?
- A.
Take notes
- B.
Ask for referrals
- C.
Ask to look at the dealer's personal financials
- D.
All of the above
Correct Answer
A. Take notesExplanation
During the Q&A session with the dealer, taking notes is important because it helps in keeping track of the information provided. It allows you to remember key details, compare different options, and make informed decisions later on. Asking for referrals is also a good practice as it provides you with the opportunity to hear from previous customers and gather their feedback. However, asking to look at the dealer's personal financials may not be necessary or appropriate during the Q&A session. Therefore, the correct answer is to take notes.Rate this question:
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- 8.
If a dealer wants to sign immediately, and didn't ask any questions or need to hear your pitch, you should do what?
- A.
Be grateful - always grab the money
- B.
Begin to inquire about the dealer's present state and relationships with other lenders
- C.
Doesn't matter - it's not any of my business and I'm just happy he was an easy sign up
- D.
Grab some funding packages as soon as possible so we don't lose them to other lenders
Correct Answer
B. Begin to inquire about the dealer's present state and relationships with other lendersExplanation
The correct answer suggests that if a dealer wants to sign immediately without asking any questions or needing to hear your pitch, it is important to begin inquiring about the dealer's present state and relationships with other lenders. This is because understanding the dealer's current situation and their relationships with other lenders can provide valuable insights and help tailor the approach to meet their specific needs and requirements. By gathering this information, one can better position themselves to provide a solution that aligns with the dealer's goals and preferences.Rate this question:
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- 9.
When pitching a dealer, always remember to:
- A.
Drive hard and be relentless - it's what we do!
- B.
Set up the dealer for the next visit
- C.
Keep it short, and target the dealer's hot buttons
- D.
Bring up possible objections on your own in order to disarm the dealer
Correct Answer
C. Keep it short, and target the dealer's hot buttonsExplanation
The correct answer is to keep it short and target the dealer's hot buttons. This means that when pitching a dealer, it is important to deliver a concise and focused message that specifically addresses the dealer's interests and concerns. By keeping the pitch short, it ensures that the dealer's attention is captured and they are more likely to listen and engage with the presentation. Targeting the dealer's hot buttons refers to identifying and addressing the key motivations and priorities of the dealer, which helps to create a compelling and persuasive pitch.Rate this question:
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- 10.
Prior to asking the dealer to sign the dealer agreement, what should you do?
- A.
Ask to see the financials for the dealership
- B.
Attempt a trial close
- C.
Test the dealer on how much he was able to obtain about our products
- D.
All of the above
Correct Answer
B. Attempt a trial closeExplanation
Before asking the dealer to sign the dealer agreement, it is important to attempt a trial close. This means trying to gauge the dealer's interest and readiness to commit by asking for their opinion or feedback on the product or agreement. This helps in assessing their level of engagement and whether they are likely to proceed with the agreement. Asking to see the financials for the dealership and testing the dealer's knowledge about the products can be done at a later stage to gather more information, but attempting a trial close should be the initial step.Rate this question:
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- 11.
In handling objections, you should:
- A.
Identify, isolate, and overcome
- B.
Use the Colombo close
- C.
Allow the dealer to share his concerns and then repeat them back to reassure the dealer that you understand and recognize their concern(s).
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
In handling objections, it is important to identify, isolate, and overcome the concerns raised by the dealer. This involves actively listening to the dealer's concerns and repeating them back to reassure them that their concerns have been understood and recognized. Additionally, using the Colombo close technique can be effective in addressing objections by asking questions to gather more information and address any remaining concerns. Therefore, all of the given options are valid strategies for handling objections.Rate this question:
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- 12.
What documents will you always be required to obtain?
- A.
Bond
- B.
Auto Count (if available)
- C.
Photos of dealership
- D.
DMV License
- E.
Voided check
- F.
State specific documents
- G.
All of the above
Correct Answer
G. All of the aboveExplanation
The correct answer is "All of the above." This means that you will always be required to obtain all of the mentioned documents, including a bond, auto count (if available), photos of the dealership, DMV license, voided check, and state-specific documents.Rate this question:
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- 13.
When taking photos of a dealership, what should you focus on? (Mark all that apply)
- A.
The dealer's inventory
- B.
The broken fence in the back of the lot
- C.
The F&I Manager
- D.
The outside of the building
- E.
The Dealer Principal's office
Correct Answer(s)
A. The dealer's inventory
D. The outside of the buildingExplanation
When taking photos of a dealership, it is important to focus on the dealer's inventory as it showcases the available cars and products. Additionally, capturing the outside of the building is crucial as it gives potential customers an idea of the dealership's appearance and location. However, the broken fence in the back of the lot, the F&I Manager, and the Dealer Principal's office are not relevant to focus on when taking photos of a dealership.Rate this question:
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- 14.
When is it acceptable to drop off the dealer agreement?
- A.
After your first visit
- B.
After your second visit
- C.
Never
- D.
When forced to
Correct Answer
C. NeverExplanation
Dropping off the dealer agreement is never acceptable because the dealer agreement is a legally binding contract that outlines the terms and conditions between the dealer and the company. It is important to keep the agreement intact throughout the business relationship to ensure both parties are protected and their rights and responsibilities are clearly defined. Dropping off the agreement would indicate a lack of commitment and could lead to misunderstandings or legal issues in the future.Rate this question:
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- 15.
Which of the following statements is true about a pitch:
- A.
It is used to inform the dealer about our program
- B.
It is used to teach the dealer about sub-prime business
- C.
It can be customized to satisfy the dealer's needs and wants
- D.
It is designed to force the dealer to make an emotional decision about signing up
Correct Answer
C. It can be customized to satisfy the dealer's needs and wantsExplanation
The correct answer is that a pitch can be customized to satisfy the dealer's needs and wants. This means that when presenting a program or product to a dealer, the pitch can be tailored to address their specific requirements and preferences. By doing so, it increases the chances of the dealer being interested and willing to sign up for the program.Rate this question:
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- 16.
What should you do immediately after signing up a store?
- A.
Ask for referrals
- B.
Set up an appointment for the dealer launch
- C.
Set expectations for yourself and the dealer
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
After signing up a store, there are several important tasks that should be done immediately. Asking for referrals is crucial as it helps in expanding the customer base and generating more sales. Setting up an appointment for the dealer launch is important to introduce the store to potential customers and create a buzz around it. Finally, setting expectations for both yourself and the dealer is essential for ensuring a smooth and successful partnership. Therefore, all of the above options should be done immediately after signing up a store.Rate this question:
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- 17.
Where do you send dealer agreements?
- A.
- B.
- C.
- D.
All of the above
Explanation
The correct answer is "[email protected]". This is the email address where dealer agreements should be sent. The other options provided, [email protected] and [email protected], are not mentioned as the correct email address for sending dealer agreements. Therefore, the correct option is [email protected].Rate this question:
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- 18.
Who is responsible for approving dealer agreements?
- A.
The CEO
- B.
The VP of Sales/Marketing
- C.
The COO
- D.
Divisional Managers
- E.
It's a team effort - all have input
Correct Answer
B. The VP of Sales/MarketingExplanation
The VP of Sales/Marketing is responsible for approving dealer agreements because they oversee the sales and marketing functions of the company. This role typically has the authority to make decisions regarding partnerships and agreements with dealers. The CEO may have final approval, but the VP of Sales/Marketing is the one primarily responsible for this task. The COO and Divisional Managers may have some input, but the ultimate responsibility lies with the VP of Sales/Marketing.Rate this question:
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