Here is a nice list of some terms salesman like to use. Knowing some of these code words and what they mean may help you know a bit more about what is going on a round you.
ACV - Abbreviation for Actual Cash Value. This is the dollar amount your trade-in is actually worth to the store. It does not necessarily mean that it is the same number on the worksheet you are shown for your trade. "I would have had a $3000 profit deal but ACV was $5000 and we had to show him $6000 to put the deal together."
Be-back - Refers to someone who either claims they will be back or did actually come back in after a previous visit to buy a car. "Yeah, that couple over at that desk are the be-backs I was waiting for."
Bump - Refers to the act of raising an offer OR raising the ACV of a trade. "The customer offered to buy it for $12,500." "Bump him to $12,800 and see if he will do that" In the instance of the trade "If he says no to that deal I will bump the trade another $300 but that's it"
Buy Bid - Typically sought when there is an issue concerning the ACV of a trade-in. If more ACV is needed and the store making the sale has put as much money into the ACV that they are willing to, they will call other stores that may specialize more in a particular vehicle and get better traffic on them. Thus, willing to own that vehicle for money than the store making the sale is.
Buried - Refers to a customer or the store being upside-down in equity on a car. "We need to just blow that car out of here, we're buried in it" or "I couldn't get get them financed, they're buried in their trade."
Closer- Usually a veteran salesman or manager who is very good at earning a person's trust and getting them to finally sign after much negotiation.
Demo - Short for demonstrate or demonstrator. Refers to either a test drive or the company cars the salesman drive if any.
Dirtbag - Someone with bad credit
F&I - Stands for Finance and Insurance office. This is where the final paperwork and financing is done. This is where they also attempt to up sell on Insurance: extended warranties, GAP, rustproofing and undercoating, etc.
Flopper - Customer who puts up very little of a fight in the negotiating. " Oh man, that guy was a flopper. He was drooling all over that car and had to have it."
Front-runner - People who like to give others the impression they are wealthy. This goes for both salesman and customers. "My front-runners over there were ready to sign up on that Lexus as soon as they saw they could afford the payment."
Full pop lease - Highest amount banks will allow on lease based on a percentage of the sticker price. This pretty much a thing of the past. The few who lease anymore have really tightened up on over-allowances.
Get-me-done - Someone with bad credit who's ability to get financed is up in the air. They typically don't care what their payment is and will do just about anything they can to get in the car they want.
Ghost - You have no FICO score and a blank credit report. Unestablished credit.
GM - Abbreviation for General Manager
Green Pea - A rookie salesman. Generally the younger guys/women.
Gross - Refers to the profit a salesman's commission is based on. "I grossed around $4,500 on it so I should have a nice check this month."
Grind - Refers to the effort to close a deal."Yeah he is in the finance office but I had to grind for it."
Head Lopper - More or less taking advantage of someone. A high gross profit deal.
Hold-back (in relevance to invoice) - Overhead cost of new car figured into the invoice. Will cover such cost to the dealer such as floor plans, advertising, and any regional advertising agreements. Dealers seldom get into this very much. "He said he really wanted the car but we were already $200 into hold-back"
Hold-back (in relevance to working a deal) - The act of maintaining profit in the deal. "Boss said I could sell it for $15,000 but I think I am going to try to hold-back on this guy and make some money."
Hawking the lot - Saleman walking or hiding on the lot looking for an "up." "John is outside hawking the lot"
Lay-down - Same as a flopper
Loaded Payment - Payment presented to customer which can include gap insurance, extended warranties, and service plans. Usually done at the sales desk without customer's knowledge to mentally prepare them for the finance office. "they are in the finance office. I gave them a loaded payment so they will probably buy everything."
Mavin - If you were to look up this term generally you would find it is someone highly skilled in many areas. This for the mostpart holds true here as well. At the dealership it refers to anyone a potential customer brings along who makes a sale difficult for the salesman. Simply put, a know-it-all. Generally they are leary and pessemistic as well as very hard to please. They have been brought along to help the customer but rarely give them any real positive input on anything. They are not even going to be an owner of the car but the purchaser highly values their opinion and chose to bring them along. This is usually a family member like a parent or sibling. Perhaps a boyfriend or girlfriend if it isn't a married couple. It could even be a friend. " I think I could have gotten my customer to say yes an hour ago but that mavin they brought in with them is making this deal hell.
Mini - The minimum commission paid on a car deal where there was not enough profit to pay the salesman an adequate amount based on his commission percentage.
Pack - Similar to a hold-back. I have only seen it referred to used cars though. Calculated cost by the dealer to cover floor plan interest, advertising , etc. This figure is added to the ACV. "ACV was $14,000 but I was working off of $14,500 after pack."
The Point - Typically a high traffic area where a good potential for meeting a new client exsists. Can refer to a corner or front of the building as well. "Where is Jim?" "Out on the point where he usually is."
Pounder - Refers to $1000 in profit. " I got me a nice 4 pounder earlier. I think I might take the rest of the day off."
Spiffs and spins - These can be either dealer or manufacturer incentives to salesman in addition to their commission. Typically used to motivate staff to sell aged inventory.
Squirrels,spooks,etc. - Refer to wishy washy customers who just don't appear to be even know what in the hell they are doing. Could be the guy that is killing time while the wife is at the mall. Could be a guy that stops in once a week and corners a salesman to shoot the shit and doesn't even look at a car. Yes! People like that exist.
T.O. or Turn-over - The term used typically when a poor negotiating salesman hands the deal off to a closer or another salesman or closer.
Unit - 1 piece of inventory. 1 car
Up - Likely to be the most famous of all of the terms. Refers to a potential client. "Hey, who grabbed that up that was out there a minute ago?"
Upside-down - Refers to negative equity in a trade-in. What they owe versus what the ACV is. "We couldn't get them financed. They ended up being six grand upside-down"
Walk - Walking the customer refers to letting one leave after management is confident they have offered the best deal and he customer still refuses to agree. Walking is a good sign they are at the end of their rope. Especially if you have used up a lot of people's time.
Weak Stick - Poorly negotiating salesman. "He's a weak stick. He won't be here long."
Whacking or dragging the trade - When the number shown to the customer for their trade is less than ACV to add profit to the deal. "The car he was buying had no mark-up so I whacked the trade and made some money anyway."
Window Qualifying - When a salesman pre-judges a potential client as they are just pulling in and getting out of their car. This may be based on what they drove in with, who is with them, physical appearance.
Yanks and Strokes - Pretty self explanitory. This customer might pop in every few weeks or few months and try to rehash an old deal you've already worked with him 3 times.
