How many of you still use these terms???
Back Door the Trade: When you do not present your trade-in to the dealer until you have already negotiated a lower price on the car you are purchasing.
Back End: The amount of profit made in the finance office by selling warranties and insurance and all other kinds of extras.
Blower: Someone who comes into a store claiming they are going to buy a vehicle but never actually buys anything.
Broom: When a salesman lets a customer leave without checking with management and failing to gather your information. (Name, phone number, etc.)
Bunny: A customer who does not negotiate very well and is taken in for huge profits.
Bus Driver: Someone—either a fellow employee or a customer— that goes to one's superiors in order to complain or inform on someone.
Cancer: If the vehicle has any rot on it, this would be considered a cancer.
Choke and Croak: The disability and life insurance policies sold in the finance office.
Clicks: The amount of miles the car has, with each mile representing one click of the odometer.
Diamond: A vehicle that is incredibly nice inside and out and runs great.
Dime: The equivalent of one thousand dollars.
Up: Every customer that comes through the door is an up, an opportunity.
F.D.R.S: A very offensive term to a customer as it stands for "Filthy, Disease-Ridden Swine" or a person who consistently never pays back a creditor who gives them a chance. The dealer may use terms like "You qualify for our F.D.R.S. program." They will try and get an approval from a bank but the dealer will pick the car.
F & I Manager: The person in the dealership that has you sign the contracts and tries to up-sell you with warranties and Insurance.
Flipped: When the balance on your trade exceeds the actual value of the vehicle.
Front End: The amount of profit made on the vehicle itself.
Gold Balls: Someone who has an incredible credit rating.
Green Pea: Someone who is new at selling cars.
Grinder: A person who likes to negotiate and works hard to get a lower price.
Ham Sandwich: A deal with a moderate profit.
Hit Everything but the Lottery: A vehicle with a high level of body damage.
Home Run: Any deal with a large profit.
Juice: The amount of interest on a loan.
Lawyer: Someone who tags along with a buyer in order to negotiate for the other person.
Low Ball: When a salesman gives an unrealistic price to a customer as they are leaving— "Would you buy this car today if I saved you another $2000?" They cannot do the price and neither can any other dealer the customer goes to, leading the customer back to the low ball dealer at least one more time.
Mini: The smallest commission a salesman can get, meaning very little profit on the deal.
Negative Equity: The amount of money that you owe on your vehicle minus the value of the vehicle. If you owe $10,000 but your vehicle is worth $7000 you have $3000 negative equity.
Nickel: The equivalent of $500.
Pack: The dealership will allocate a certain amount of the profit to itself before determining the commission. Lets say there's a $2000 profit on the car— after a $500 pack, the salesperson will be paid $1500.
Pounder: A thousand dollars of profit. A two pounder is two thousand, a three pounder is three, etc.
Quarter: The equivalent of $2500.
Rat: A car that is of substandard quality and not a good purchase for anyone.
Skating: When another salesman cuts in front of you to get the customer first.
Spot: When the dealer gets you to take the car home the same day you look at it.
Stick: Another word that means one thousand (and two sticks = 2,000, etc.).
Stiff: Someone who has a credit rating so poor it's impossible to get financing.
Stroker: Similar to a blower, someone who comes into the dealership trying to buy a car but wasting the salesman's time by never actually committing to a purchase.
T.O: A second person that comes in during negotiations, a turn over manager, who will usually play hard ball compared to the salesperson.
Tire Kicker: Someone who comes into a dealership to browse, with no desire to purchase a vehicle.
Tricked-Out: A car with after-market parts.
Twisted: A vehicle that has been in a rough accident.
Upsell: Anything sold to the customer that does not already come with the vehicle like alarms, scotch guard, etc.
Upside Down: When the value of the car is less then the amount of money owed on the car.
Weak: A salesman who has a tough time closing deals could be called a "weak salesman."
Whopper with Cheese: A deal that has an exorbitant profit.
I'm sure we can add others.......................
Recruitment Professional - Borderline Comedian
1 年??
Good stuff!
Protect and Collect! Increasing Dealer profit for Independent Auto Dealers - including BHPH
7 年Happily most of the pejorative terms you mentioned are used much less often these days. But I'll throw in a couple of more from the bad old days. Get Me Done (GMD) - before Subprime financing made it possible for anyone to get financed, someone with bad credit. Bogue- same as GMD Double-Dip - Arranging for 2 small loans from Mouse Houses for down payment on a car. Mouse House - Small loan companies that gave personal loans usually $500 limit. Mop & Glow or Rust & Dust - the environmental protection applied to interior and exterior. Line 5 Call - Approval from lender which does not allow any additional products. Cut & Fill - unscrupulous F&I practice of cutting front end profit to add back end. I've got a million more but my thumbs are tired of typing.
sitting on the verada at Retired
7 年nice to speak a separate language. do they have a term for outside salespeople roaming the showroom while waiting to sell something to the GM and trying to get an "in" by talking if up with the salespeople? (suggested word, Schmoozer.)