Car Dealer Terms with
Definitions....From F to Q
Car Dealer Terms -- Part 2 of 3 -- From F to Q
Finance & Insurance Manager (Business Manager, F & I, F & I Monster):
These are usually the best closers in the car dealership and are often the last
person the buyer will see during the entire car
buying process.
Flake: A car dealer
term referring to a buyer that is a waste of time because they have no money for
a down and their credit is lousy.
Fleet Manager: This is the person in a car dealership that handles
quantity vehicle orders. For example, lets say someone has a business and needs
to buy 20 pickup trucks, then the Fleet Manager is the person they would deal
with.
Flip: This car dealer term describes being able to convert a buyer from
using his own lending source to using the dealership for his financing. Its also
a car dealer term used by
curbstoners to describe the process of selling a car fast.
Full Bore: A car dealer term referring to when a car is sold for the full
price.
Front End Gross (Front End, Front End Gross): The profit a car dealership
makes on the sale of any new car or used car sold off the lot.
General Manager: This is the person responsible for all the daily tasks
involved in running the car dealership. They are usually one step below the
owner of the dealership.
Gold Balls: A buyer that has excellent credit and the cash for a large
down payment.
Grape: An easy buyer that will go along with whatever the seller tells
them. You know, soft and pliable like a grape.
Greenpea: A car dealer term used to describe a rookie car salesperson.
Grinder: A buyer who is relentless in wanting more for less money.
Haggle Free (No Dicker Sticker, No Haggling): Car dealerships like Saturn
are like this. They are dealerships where they buyer just walks in and buys the
car at the price that is listed on the sticker with no negotiating.
Hen: An older set-in-his-ways salesperson that is negatively influencing
the younger sales people.
High Ball: An exaggerated figure given to a
car buyer for their trade-in just to get
them on to the lot.
High Penney: Rounding off the buyers monthly payment to a higher amount.
If their payment figures to be $312.02 then they will re-figure it to $312.98,
or whatever, with the thinking that no buyer will be "petty" enough to complain.
Home Run: When the dealership has figured in every possible way of
raising the price of the vehicle through added fee's, raising the price, higher
interest, higher monthly payments, points, etc.
House Sale (Ad Unit): These are usually stripped down vehicles, but not
always, that dealerships advertise at a reduced price with the intention of
up-selling the car buyer to something more expensive. There is usually little or
no commission to the sales person in House Sales.
Iron: A slang used car
dealer term describing an old beat up used car valued at the price of iron.
Kink: A problem with the deal where someone in handling the
car paperwork has made a mistake.
Laid Away: A car buyer that has bought every possible accessory that the
dealership can pile on. This may include things like: Pin striping, custom
wheels, extended warranty, rust proofing, theft alarm, financing, etc.
Lay Down: A car buyer that lays down and lets the sales person run over
them buy agreeing to everything the salesperson tells them and sells them.
Leaser: A leaser is just someone who prefers to
lease instead of own a vehicle.
Liner: A salesperson who's job is to get the customer committed to one
particular car and then turns the job of closing over to someone else on the
lot.
Low Ball Offer (LB, Low Balled): This is a low price that a car sales
person will offer to a buyer over the phone to get them to come to their car lot
or in person to keep them on the
car lot. The low prices offered over the phone
are almost always bogus and when the poor schmuck buyer shows up they are
usually told that there “must be some misunderstanding and sorry that we can’t
verify that but Joe Blow (the guy that told them that) has left for the day.”
Mega
Dealer: This is a dealership owner that owns more than one auto dealership
in an area.
Mickey: This is where the car dealership makes the car deal work for a
customer in a "Mickey Mouse" way like arranging for the down payment.
Mother (T.O., Turn Over Man): This is the hot shot closer that the Liner
hands over the deal for closing.
Mouse House: A slang car dealer term used to describe a lender.
Nickel: An amount of $500.00 used for anything involved in the car deal.
Pack (Payment Packing): This is where the car sales person will early on
ask the buyer how much they want their monthly payments to be.
Once they know that figure then they can go from there and wrap the
entire out-the-door-price of the car around that monthly payment.
Its very expensive for the buyer because of the inevitable long term
financing and interest.
Payment Buyer: This used
car dealer term describes a buyer that is only concerned with
what the monthly payment will be and not the total price of the
vehicle.
Qualify (Qualifying): This car dealer term refers to the process a sales
person uses to find out what type of car buyer they are dealing
with. A serious prospect, looky lou, payment buyer, etc.
Click here for Auto Dealer Terms -- from A to E
Click here for Car Dealer
Terms -- from R to Z
