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Be a pipe smoker, not a Grape—A Guide To Dealerspeakby Spencer Michlin
Every Up should know these before heading into the Chute.App Customer’s credit application As Is No guarantee on car Backend Refers to the non-sales operations of the dealership; e.g., service, parts, body shop, finance, insurance, etc. Back of Book A sale price less than that established by one of the retail price guides Bad paper Uncollectible note Beacon Score Credit score Be Back Customer leaves the lot with a promise (perhaps kept) to return Bog Customer with poor credit history Bogey Sales goal Cancer Visible rust spots on a vehicle Cap Cost Amount advanced on lease deal Carry Back Amount to be financed installment contract Christmas Club Closing technique in which the dealership offers to make the first payment if the customer buys today Chute Salesperson’s closing booth Clocking Turning back odometer (illegal) Co-pilot Co-signer on car loan Crossover Technique of diverting customer’s attention from one part of transaction to another; e.g., changing the subject from trade differential to monthly payment amount Curber Sales person or manager who buys and sells vehicles as side deals without the knowledge of the dealership Curbed the Sled When a dealer sells a customer’s trade-in before the deal on a newer vehicle is finalized D Tag Dealer license plates De-Horse Practice of taking customer on a demo ride while a credit check is made Dip Down payment loan from a finance company DOC Dealer Originating Charge. A contractual add-on to cover dealer’s closing costs and legal documents Don’t Wanter Used car that stays on lot too long Dualing Two franchises under same dealer’s roof Dust Undercoating F&I A dealership’s Finance and Insurance Department Get Me Done A prospect who’s ready to buy if financing can be arranged Grape A buyer who is considered to be an easy mark Green Pea A new salesperson Grinder Manual transmission Guts Car’s interior. Car with red interior is said to have “red guts” In The Bucket A customer who is “upside down” and owes more on vehicle than it’s worth La Ha Credit life and disability insurance Lay Down A customer who is easily sold if he or she can get financing Liner A salesperson who makes the presentation and demonstration and then turns customer over to a “closer” Load-in Adding credit insurance, service contracts and other high-profit extras to the purchase price Lot Drop When a salesperson drops one customer in favor of another perceived to be a more likely buyer Lot Lizard Salesperson who continually surveys the lot rather than telephone prospecting Maggot Difficult customer Maroney
The window price sticker misnamed for Sen.
Mike Monroney of
Oklahoma, who sponsored the Automotive Information Disclosure
Act of 1958. Dealerships can
be fined $1000.00 for each new car that doesn’t display a "Maroney" sticker Meet n’ Greet The glad-handing welcome you get when you show up on the lot. A salesman’s chance to make a good first impression and control the selling situation Mouse House Finance company willing to accept marginal credit risks Nickel $500.00. Other financial terms of the car dealer’s art: A Pound=$100.00, 6 Bits=$7500.00, a Queech=$2500.00, a Doz=$1200.00 Nut Gross income needed to make sales expenses. True for any business but said to have originated from the phrase New, Used and Truck On the Ground Vehicles on the lot On the Street Vehicles that have been sold On the Truck Vehicles in transit to the dealership Orphaned Owner Customer who bought from salesperson no longer employed at Dealership Over the Curb Point at which the vehicle becomes legally sold Piece A vehicle Pipe Smoker A well-informed buyer Pop To repossess a vehicle Recon Service work necessary to put a used vehicle in saleable condition R.O. A service repair order Road Coach Van that sells food and beverages at dealerships Rollback Sales tactic of finding out how much a buyer wants to pay each month and determining the price and quality of the vehicle on that basis Rust The opposite of what you probably think: it’s rust proofing Scrappage Rate Ratio of new vehicles entering the market to older cars being scrapped. The lower the Scrappage Rate, the longer vehicles are being kept. Short Deal Low profit sale Six Banger Six cylinder engine Skins Tires Sled An older used car in bad shape Sled Dog Salesperson of older used cars Slide Ruler This customer knows deals the way a Pipe Smoker knows cars Spiff A performance incentive for the sales person Spot To deliver a vehicle to a credit worthy buyer prior to credit approval Stroker A shopper who has no intention of buying at any price Strokes Monthly payments Third Baseman Individual (friend, spouse) who assists buyer in making decision Tissue Dealer invoice Trip Sticker Temporary license plate Under The Bus
To sell at a very high profit is to put the customer there Up A prospective buyer Water The profit on a trade-in Weasel Clause An “escape” for the buyer added to the contract at the buyer’s insistence; e.g., “Subject to reconditioning acceptable to Buyer” Here’s wishing you a lifetime of Weasel Clauses and Short Deals from the Back of the Book |
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Here’s
a glossary of car dealer terms gleaned from longtime car salesman D.J. Jackson
and from Lou Vickery’s delightful pamphlet “Car Slanguage.”