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Used Car Talk
Ad car: Striped down vehicle to use as advertised leader.
Backwards: When a vehicle's wholesale value is less than the amount still owed on the vehicle. Also upside down.
Baldinis: Bald tires. Skins.
Be-backs:
The customers who tell you not to worry, they'll be back.
Bird dog: One who refers customers to salesman for a Bird dog fee.
BK: The customer has a
bankruptcy
in their credit history.
Blow them out: Don't waste any more time with a customer.
Bomb: An old car with no value. Heap, Junker, bedpan
Bump: Raise the price.
Customer offers $5,000 bump him another $500.
Clip joint: A dealership with a reputation for overcharging.
Closer:
With a T.O. system the salesman takes the customer to the closer after the demo
and he has some kind of offer.
Crapped out: Deal that didn't materialize.
Cream puff: A used vehicle in excellent condition.
Croak and Choke: See LA&H
-
pertains to the Finance Manager selling Credit Life Insurance and Disability
Insurance on the car loan!
Crop duster: A car that blows smoke out of the tailpipe.
Deadbeat: A customer with a bad credit history.
Dime: $100.
Dip: Take customer to finance co. to borrow down payment.
Double dip-Two finance co loans.
Down stroke: Down payment
Draw: Get an advance on commissions.
Dream deal: Sale that will not materialize or "be back" is expected back.
F&I: This stands for the
Finance and Insurance office where the documents are signed. The F&I salesperson
usually will push products such as extended warranties, fabric protection and
alarms
Finn: $500. Nickel
Fish: A customer who's too willing to part with their money.
Flake: No way to buy. Tire
kicker.
Gasser: A customer who doesn't have the money to buy a vehicle, but acts like
they do.
Glass: Obvious use of Bondo or Fiberglas to repair rust or body damage.
Gilt: Cash, green, bread.
GM - The General Manager. He runs the whole show.
Gold
Package: Gaudy-looking vehicle.
Gouge: Sell a vehicle for more than sticker price. High gross.
Grease: The amount of discount a customer needs to close the deal.
Grind: Negotiations that take a long time.
Grinder: Chisels. Hangs on
to a minimum offer.
Gross: Amount of profit.
Hammer: Exert pressure on a customer to buy the vehicle.
How Soon
They Forget: Remind an associate of favors you've done for them.
Hung: Status of a customer who's ready to sign the papers.
Hit A Home Run: Make a great deal of money on a particular sale.
Hosed 'em:
Made some money on the deal.
Idiot light: A warning light on the instrument panel.
Juice: Money. gilt, bread, green
Jumped it: Full price plus
the trade. Also used "Circled it"
Junker: An old car ready for the scrap heap.
Kelsey: Country boy
shopper.
Key and a Heater: A basic car with no options.
Kickback: Money refunded to the car dealer after the sale is made. May come from
the car maker, finance company or insurance companies from the sale of extended
warranties. Rebate, reserve
Kiss the paper: Dealer signs recourse or repurchase on customers note with the lender. If the customer doesn't pay he has to buy it back.
LA&H: Life, accident and health insurance that F&I man tries to write on all deals that qualify - see Croak and Choke.
Lay down: Easy sale,
customer pays asking price.
Licking: When either the dealer or the customer loses money on a deal.
Loaded: A car with every option. A rich customer.
Long green: Money.
Lowball: An attempt to undercut another dealer's price. Usually used as the
customer leaves. Leave him on a ball.
Maypops: Bald tires.
Mini: The commission on a
deal where the car was sold at close to invoice price. "Sure, the deal was
only a mini. But I qualified for a weekend bonus and made a grand."
Mooch: A customer who wants to buy a car at invoice. "People are spending too
much time on the Internet. It's turning them into a bunch of mooches."
Mouse house: Finance company.
Nickel: $500.
Numbers: The price of the vehicle.
Nut: The break-even point. Total overhead.
On the hood: Rebates, incentives, and special financing offered by a
manufacturer or lender.
Pack: Money
built into the price of the car to cover dealer's expenses (advertising &
overhead in particular).
Pad: The amount of a sale meant for the salesman.
Pipe smoker: Technical
shopper, wants to know bore & stroke, gear ration, may carry calculator.
Player: A customer with a good credit history.
Pound: $1000.
Push: Cash, rebate, or special financing.
Qualify: Determine if the customer is ready to buy.
Rat race: No organized
up's system. See UP
Rear-end money: Kickbacks and incentives given to a dealer by a lender for
closing a financing deal.
Repo: A car that's repossessed for non-payment of a loan.
Ripley's
Believe It Or Not: Obvious body damage poorly repaired.
Roach: A customer with a poor credit rating. A vehicle in need of a serious
doll-up.
Roach coach: The food truck
that comes around to the dealership every day.
Roll 'em: Force exerted by a salesman to close a deal.
Rubberneck: A customer who has no intention of buying.
Shark: A ruthless, money-hungry salesman.
Skate: Steal another salesman's customer
Short Arm:
Very thrifty (cheap) customer.
Slam-dunk: Make a very profitable sale.
Sled: A slow and cumbersome vehicle. A worthless vehicle.
Snow job: An attempt to hide the truth from a customer with persuasive language.
Song and dance: An elaborate attempt to explain something to a customer.
Special financing: High-interest loans for customers with poor credit.
Low-interest loans underwritten by the manufacturer.
Spiff: Bonus a salesperson receives for first sale of the day, high gross etc.
usually cash passed out at the sales meeting.
Sticker shock: Customer's negative reaction to the price of the vehicle.
Stole It: Purchased a vehicle far below wholesale value.
Sticks: Furniture loan,
borrowed the down on his sticks.
Stroker: A customer who acts like they're ready to buy, and has no intention of
doing so. Flake.
Sweep 'em: Don't waste any more time with a customer.
TD: Turned down. Usually refers to a customer's credit application.
T.O.: Turn over. Turn
customer over to manager or closer to finish deal.
Teaser: A basic car with few options (used to draw customers into the
dealership).
Ticky Ticky:
Vehicle with valve train noise.
Tin Lizzie: A very old vehicle.
Tire Kicker: Someone who doesn't have the money to buy, but looks just the same.
Took a Bath: Lost money on a deal.
Took a
Pill: Lost a great deal of money on a deal.
Twist 'em: Force exerted by a salesman to close a deal.
Up:
A customer that walks on the car lot. The term probably comes from the order in
which customers are taken, as in: "I'm up next." Many dealerships also have an
up system. "We've got ups all over the lot, and you're in the back drinking
coffee?!"