Selling in 2023

Jan 05

How To Handle Cash Customer Problems

If you’ve followed any of my sales training, F&I training, or management training then you may have noticed that I always follow the same sales process when I’m teaching how to sell a high ticket item to a customer. 

If you’ve ever purchased a high-ticket product from me you may have also noticed that I may have offered multiple payment options, even if it’s going on a credit card in order to close the sale. It’s not just out of a coincidence. 

It’s because that sales process has helped me generate millions of dollars every year for myself and my clients.  

It works for car and motorcycle sales, F&I sales, entrepreneurs and most other businesses that offer high-ticket products. 

It’s the best sales process out there! And today I’m going to share with you how to handle cash customer problems.

What is a cash customer? It used to be a person that pays with greenbacks…. Cash… but that’s not how most people define cash anymore. 

Today many people consider a credit card as cash… cashiers check as cash, bank draft as cash, personal check as cash. They’re not… and it matters because you’ll miss sales and profit if you believe those things are cash.

Most customers don’t mean to lie or mislead… but there’s some neuroscience involved here. if we ask a person how they’ll be paying, it causes the brain to think they’re dealing with a business that offers better prices to cash customers. 

Therefore the majority of customers say… that they’re paying cash. And it’s not the customers fault… it’s just the way the human brain works.

Now, you might be saying that your customers are different where you live or work. Most of your customers are wealthy. You have a lot of cash buyers. All of the out of town incoming phone customers are cash buyer. 

 I can assure you that they’re not. That’s just that neuroscience thing at work again. Customers are similar east coast to west coast and in other capitalist countries. Most wealthy people, also know that you don’t pay cash for a depreciating asset, but if you ask them how they’re paying they’re likely to say, I’m paying cash. 

It’s because they’re under the impression that they can save some money by telling you this. After All that’s partly how they got rich. By saving money when they can.

But what about the middle income? It’s the same thing. Just like the wealthy buyers, some of the mid level earners have money in the bank, heloc’s, 401’K’s and can also pay cash but they understand that’s not a good idea, not how you get rich and they might be able to get a better deal if they say they’re paying cash. 

It’s important to treat everyone as if they have cash…… you know… just be nice, build value and close the sale.

So how exactly do you handle these cash customer problems? Give your customers payment options when it’s time to close your deal.

My first tip: Never ask your customer how they’re going to be paying for what you’re selling before you’ve given them some massive value and presented an offer to them. No matter what sales process is being followed, I’ve never heard of a proven system that says to ask the customer how they’ll be paying. If you do ask, rich people, average people and even poor people aren’t likely to tell you the truth.

See….I know that you might not want to hear this, but it’s not all about price. It is about saying the right thing or not saying the wrong thing.

Since the majority of customers live paycheck to paycheck, that means a good deal is not all about your cash price. A good deal is the product they want, from someone that will take care of them after the sale, at a price that will fit into their monthly budget. 

Whether they’re wealthy or middle income earners, 80% of buyers finance their purchases, when you think about that, it means your cash customer may not be buying from you because they can’t afford the monthly payment.

It’s important to always know you have created massive value with every customer. People are willing to pay for the value you have created. I hope that you learned something about closing a deal when a buyer says “your price is too high.” It’s usually about payment.

If you need help growing your selling skills, business, F&I, buying or selling a dealership then check out my agency. Website:

I hope that you’ll click like, share it with your friends and comment if you have any questions about other tips I can share.

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