LEMME ASK YOU SOMETHING
WHAT DOES ACV STAND FOR
ACTUAL CASH VALUE
WHAT DOES APR STAND FOR
ANNUAL PERCENTAGE RATE
WHAT DOES BCA STAND FOR
BORROWED CAR AGREEMENT
WHAT DOES BLACK STRIP LICENSE MEAN?
IT IS A FORIEGN NATIONAL DRIVERS LICENSE FOR AN NON PERMANENT RESIDENT
BLUE CERTIFED
FORD BLUE CERTIFIED WARRANTY
90 DAY 4,000 MILE LIMITED COMPREHENSIVE WARRANTY
139 POINT INSPECTION
11,000 FORD PASS POINTS
WHAT IS CDK
CDK IS THE DEALER SOFTWARE MANAGMENT TOOL WE USE FOR OUR FINANCE, ACCOUNTING AND INVENTORY.
(COBALT DIGITAL MARKETING)
EXPLAIN WHAT IS REFFERED TO AS "THE BOX"
THE FINANCE OFFICE.
*NOT A TERM TO USE WITH CUSOMTERS. THIS IS INTERNAL CAR DEALERSHIP SLANG.
BOOK VALUE
"BOOK VALUE" IS THE WHOLESALE/RETAIL/TRADE
VALUE FOR PREOWNED VEHICLES.
DETERMINED BY VEHICLE VALUE GUIDES FROM KBB, JD POWER ECT.
WHAT IS A RED STRIPE DRIVERS LICENSE
RESTRICTED: TO AND FROM WORK OR SCHOOL
BUYERS GUIDE
THE BUYERS GUIDE IS A FEDREALLY REQUIRED FORM STATING DETAILS ABOUT THE PREOWNED VEHICLE.
THIS MUST BE PLACED IN PLAIN VIEW ON EVERY PREOWNED VEHICLE AND CLEARLY LIST EITHER "AS-IS" OR "DEALER WARRANTY"
CLEAR MASK
THIS IS CLEAR BRA PAINT PROTECTION
CLOSING %
WHAT IS CPO
CERTIFIED PREOWNED
WHAT IS F&I
FINANCE & INSURANCE
WHAT DOES FICO STAND FOR
FICO IS A SHORT CUT TO SAYING CREDIT SCORE
FICO MEANS FAIR ISAAC CORPORATION
(THE ARE TWO MAIN TYPES OF CREDIT SCORES VANGUARD AND FICO)
WHAT DOES CSI STAND FOR
CUSTOMER SATISFACTION INDEX
WHAT IS GAP INSURANCE
GAP INSURANCE IS PROTECTION OF YOUR AUTO LOAN. IN THE EVENT YOUR VEHICLE IS LOST, DAMAGE OR STOLEN AND NOT RECOVERED AND YOU OWE MORE THAN YOUR INSURANCE COMAPNY WILL PAY THIS PROCETION PAYS THE DIFFERENCE IN FULL, "THE GAP"
*STANDARD CAP IS $50,000
GREEN SHEET
THE GREEN SHEET IS THE PHYSICAL DAILY DESK LOG OF VISITORS, FILLED OUT BY SALESPEOPLE.
THIS LOG IS MANDATORY IN ALL PHIL LONG STORES, TYPPICALLY AT THE SALES TOWER.
WHAT IS A "HAPPY TAG"
THE TEMPORARY LICENSE PLATE GIVEN WHEN BUYING A NEW OR PREOWNED VEHICLE.
WHAT IS A MONRONEY STICKER?
THE MONRONEY STICKER IS THE WINDOW STICKER THAT IS LOCATED IN ALL NEW VEHICLES.
DEFINE THE FOLLOWING 2 TERMS
P O I
P O R
PROOF OF INCOME
PROOF OF RESIDENCE
EXPLAIN WHAT UPSIDE DOWN MEANS IN THE CAR BUINESS
UPSIDE DOWN MEANS YOU ARE IN A NEGATIVE EQUITY POSITION IN YOUR CURRENT VEHICLE FINANCING.
GIVE A FULL EXPLANATION OF CERTIFIED PREOWNED BLUE, GOLD AND LINCOLN QUALIFIERS
(YEARS / MILES TO QUALIFY)
BLUE CERTIFIED 9 MODEL YEARS/120K
GOLD CERTIFIED QUALIFY: 5 MODEL YEARS/80K MILES
LINCOLN CERTIFIED -QUALIFY: 5 MODEL YR/60K MILES
WHAT IS VINSOLUTIONS
VINSOLUTIONS IS THE CUSTOMER MANAGMENT SOFTWARE WE USE - IT IS ALSO YOUR DIGITAL SECRETARY AND WORK JOURNAL FOR PAST, CURRENT AND FUTURE CUSTOMERS
DEFINE WHAT "STIPS" MEANS
GIVE EXAMPLES
STIPULATIONS FOR A LOAN APPROVAL
"APPROVED", BUT THE LENDER REQUIRES
PROOF OF RESIDENCE, PROOF OF INCOME