BABYSITTER: Slang term used for a co-signer or co-buyer on an sales contract.
BACK END: Back end is the contract which is being sent to the bank for financing, where extra "hidden" profit is made by the dealer because of the "kickback" that the bank pays the dealer.
BEATER: See SLED.
BE BACK: Prospective buyer who has been in the dealership and promises to return.
BIRD DOG: One who refers prospective customers to a particular dealership or salesman for a given fee or compensation.
BOUNCE: To bounce someone means to increase the sales price of the car, interest rate, monthly payments, etc., often without the customer realizing it.
BOX: Refers to the RV "box" that sits on the vehicle chassis.
BRICKS: Refer to a house being used as security for an RV loan.
BROWNIE: To sell to a customer as a result of going around and putting a piece of paper with a message like "call me regarding your car" on car windows on the street.
BUMP: See BOUNCE.
BUY RATE: This is the interest rate that banks or financing institutions will charge on all contracts being financed; It is a "secret" number between the lender and the dealer which is the real amount of the interest rate that the loan starts out at before the dealer increases it for its own extra profit.
CLIMBER: A salesman who can sell anything to anyone. One who is able to tackle a tough customer and climb all over them.
CLOSER: Usually a pushy salesman whose job it is to "close" the deal with the customer when the customer hesitates when dealing with the salesman.
DE-HORSE: This is when you take a customer out of his trade-in and let him temporarily drive the newly purchased RV before the purchase has really been finalized on the dealer's books. The idea is to keep the customer from shopping around and finding another deal somewhere else.
DESKMAN or DESK: A man who both figures and determines what kind of deal the dealership will make to a customer.
DEUCE: This usually refers to a $200.00 figure for whatever reason, down payment, trade-in value, etc.
DIP: This is when the customer needs additional or all of his cash down advanced by a finance company.
DOUBLE DIP: To finance a purchase between two or more loan companies.
DOWN: Short for down payment. Also used when a salesman is finished talking to a prospective buyer. He is considered to be down and the next salesman is considered to be up and in line to handle the next prospective buyer.
DOWN STROKE: The customer's down payment.
EDGY: This is a customer who may or may not be able to get his RV financed.
ETHER: Is a slang term used in association with its actual application. For example, putting someone in the ether. This is usually done in a closing situation and the customer is not completely aware of what is happening.
EYE BALLER: Is a flashy looking, bright colored, RV.
FLAKE: Is a customer who usually had bad credit, little or no money down. It is usually a waste of time trying to put a deal together for him.
FLIP: This is to convert a buyer from financing his RV through his own bank or credit union to financing through the dealership.
FULL BORE: To sell an RV for the full sticker price with no discount.
GOLD BALLS: One who has excellent credit and usually a considerable down payment.
GRAPE: This is a very easy buyer. He normally goes along with anything anyone tells him.
GREEN PEA: This is a new salesman or sales business manager.
GRINDER: This is a buyer who, no matter what the salesman offers, wants more for less.
HEN: Older type salesman who influences younger salesmen (adversely).
HIGH BALL: A figure given to a prospective customer which is an inflated value of his trade-in in order to get the customer to return to the dealership to purchase his new RV.
HIGH PENNY: To adjust a customer's monthly payment. For example: from $401.13 to $401.93. It is safe to assume that if the customer will pay $401.13 for a car payment, he will pay $401.93 without giving it a second thought.
HOME RUN: When maximum profit has been made on a deal or when the sales business manager has sold the customer all the insurance he has available.
IRON: This is an old used RV valued at nothing more than the price of iron.
KINK: A problem with a deal due to "miswriting", misrepresentation, misquoting, or mishandling.
LAID AWAY: A customer who has paid the maximum price for as many items (like accessories, rust proofing, extended warranty, financing and credit insurance) as can possibly be sold on an RV.
LAY DOWN: This is a customer who says yes to everything. They "lay down" --- and get run right over.
LINER: A salesman whose responsibility is to settle a customer on one particular RV, get a commitment of some type from the customer, regardless of how ridiculous it is, and then turn the customer over to his T.O. man, sales manager or mother.
LOW BALL: Deliberately stating a low price for an RV, with no intention of really selling it for that price. Usually given to a customer who has said that he wants to shop around before buying. This figure is so low that the buyer will not be able to find a better price anywhere. That way the Dealer can be sure the buyer will come back and when he does the Dealer will say the price just went up! By then the buyer is tired of shopping so he probably won't go anywhere else again.
MICKEY: Slang term used to describe a down payment loan that is arranged by the dealership. This is referred to as completing a deal in Mickey Mouse way.
MOTHER: See T.O. MAN.
MOUSE HOUSE: Slang term used for a finance company.
NICKEL: Refers to the amount of $500.00
PACK: There are two interpretations of this. First, it is used in figuring a salesman's commission, depending on the individual dealer they will deduct anywhere from $100 to $500.00 from the gross profit of the deal and pay the salesman his commission figured on this difference, sometimes without the salesman even knowing it. Second would be when the salesman or business manager would quote a monthly payment to a customer and increase the actual amount by 20 or 30 dollars to leave room for Credit life, Accident and Health insurance to be "packed" into the payment amount, sometimes without the customer realizing it.
PENCIL: This has two applications. First, a sales manager will pencil a salesman's deal by crossing out the customer's offer and penciling in the figure that he wants to get for that RV. The second application is used when a salesman or sales manager changes the selling price or trade-in allowance and covers it up with an increase in the customer's monthly payment because of the additional cost he expects to pay for Credit Life, Accident and Health insurance.
PIPE SMOKER: A customer who smokes a pipe, gives no commitments whatsoever, usually grinds the salesman to his last thread and doesn't buy the RV after all.
PUT TOGETHER: This means much the same as "laying someone away". In other words the maximum gross profit to be made on that deal was accomplished. The customer was "nailed to the wall".
RESERVE: Sometimes thought of as a "kickback" the bank gives the dealer for setting up the loan. The income a dealership realized on a contract in excess of the finance source's discount rate. For example: If the bank is going to charge $600.00 in finance charges on a given contract and the total finance charge to the customer on this contract is $1,000.00, the dealership will realize $400 in "reserve money" but the customer thinks the interest is all being charged by the bank.
ROLL BACK: To work a deal backwards. Instead of working with the purchase price and trying to determine a monthly payment, you would start with a known monthly payment and try to determine a selling price. It also means to "roll back" the odometer on an RV to make it worth more money - highly illegal.
RULE OF 78: A mathematical formula used in figuring a rebate of unearned charges or premium, when these charges were pre-computed and pre-paid. Also referred to as "78 ways we get to keep your money".
SLED: Reference quite often given to a customer's old trade-in which is usually "beat up" and worth little or nothing.
SLIDE RULER: A buyer who is a specification nut. He does not deal in generalizations when prices are quoted. They must be exact and justified most of the time. This buyer will have a pocket calculator with him to calculate his own sales tax and total sales price.
SPEAR: Think of it like in the movies when the Indian would "spear" a fish in the stream for his dinner. This is just a method used in getting a customer onto a dealer's lot. For example: Stopping a man at a campground and telling him that you would give him some outrageous figures for his trade-in if he would just come down to the dealership today and take a look at what you have to offer.
SPOT DELIVERY: This is when all phases of the purchase and delivery are completed the same day. This may be with or without any kind of credit check or approval.
STICKS: Reference given to the borrower's furniture he puts up as collateral on a small loan, such as when he borrows the money for the down payment on the RV he is getting ready to buy.
STRAW PURCHASE: This is when a third party buys an RV and finances it in his name for some one else (who will be the actual driver) because of that other person's age, bad credit, or lack of credit, etc.
STRONG: Refers to a sales person, sales manager, or Business Manager, in describing his ability to be aggressive and pushy.
STUD: See second application of "STRONG".
"SUM OF THE DIGITS": Another term used for the "RULE OF 78" - a formula used in figuring rebates, also characterized as "78 ways we get to keep your money".
SWITCH: To change a customer from buying one RV to another for several reasons: availability, greater profit, etc.
THIRD BASEMAN: An individual who accompanies a prospective buyer because the buyer feels he is better versed in haggling over the price of the RV and/or knows more about it mechanically, thereby decreasing the chances of getting stuck with a "lemon".
TIRE KICKER: This is normally an individual who doesn't want to buy an RV, but just wants to look. He walks in, touches the merchandise and doesn't want to talk to anyone.
T.O. (TURNOVER): The procedure used in selling where the salesman turns a prospective buyer over to another salesman or sales manager to close the sale.
T.O. MAN: This is the individual to whom a salesman will turn a customer over.
TOAD: Reference given to a customer's trade-in; a worn-out RV that is just "sitting there" like a toad.
UNDER-ALLOWANCE: To give a customer less for his trade in than it is actually worth.
UNWIND: To take back an RV that is already delivered and void all papers that were used in reference to its delivery.
UPSIDE DOWN: This condition exists with a buyer when he wants more on his trade-in that it is worth. Also called "in the bucket".
WALKING FIGURES: When the salesman knows for sure that the customer will not buy an RV at this time because he wants to check out some other dealerships. The salesman will give him a ridiculously low figure to try to beat, knowing that, in the end, he will have to come back to him.
WATER: This is the false equity shown on a deal that a customer is supposed to have in his trade-in. For example: Showing on the purchase order $10,000 in equity on a '79 Winnebago when he actually only has $1,000.
WOULD YA, COULD YA: A practice used by salesmen in getting a commitment from a customer. In other words, "Would you buy this RV if I could get it for the price you want to pay?"
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