Operating In A Bilingual Market
Sé habla español? Are you ready for an additional market? The Spanish-speaking community represents a huge opportunity for those who can communicate with, market to, and conduct business with Hispanic consumers in an environment that makes them feel welcome and comfortable.
Can you imagine how confusing it must be to purchase a vehicle in a new country? Different countries have different customs and different disclosure laws. We must remember that what is normal for us is not necessarily the norm for others. For example, in Mexico, vehicle prices quoted include the finance charges. So when a customer asks how much a vehicle is, the sales consultant in Mexico will in turn ask the customer if they will pay cash for the vehicle or finance it.
When this same customer relocates to the United States and goes to a dealership to buy a vehicle, the salesperson’s answer to the “how much” question does not disclose that finance charges are in addition to the sales price. The result is that when the customer meets with the F&I manager to review the documentation, the extra finance charge, regardless of the number, becomes an obstacle to the transaction.
To accommodate the growing nationwide market of Hispanic consumers, most U.S. states now mandate that dealerships provide a Spanish-language version of the Federal Trade Commission (FTC) Used Car Buyer’s Guide, as well as the installment contract. The Spanish version of the installment contract is for comparison and translation purposes only; it is not to be signed.
Check with your local governing authority to verify which documents require translation as well as optional document translations that are available for your use. In California, Reynolds Forms offers installment contracts translated into several Pacific Rim languages, including Chinese, Japanese, Korean, and Vietnamese. When a transaction is completed with a customer whose first language is not English, it is also advisable to have the customer sign a receipt verifying that they received a translation of the installment contract in their first language.
While English is the standard language of business, it just makes good business sense to make is easier for those who are new to our country to understand their business transactions so that they can build a positive credit history. As a result, lenders will enjoy reduced repossession rates and dealers will broaden their customer base and build referral business. Confer with your legal counsel and implement a marketing plan that will expand your opportunities to do business with consumers who need to “translate” their need for transportation and their ability to repay the obligation.
Dealer Marketing, April 2006, p. 30