General
What contributes to your PVR?
What is products and finance reserve?
What does CSI stand for?
What is Customer Satisfaction Index?
In a lease, the estimated wholesale value of the vehicle at the end of term.
What is Residual Value?
The official term for what a guest pays upfront at the beginning of a lease to reduce capitalized cost, similar to a down payment.
What is Cap Cost Reduction?
Bergstrom offers 2 different prices for trade-ins, one is Bergstrom's number, what is the other source we use?
What is KBB ICO?
What acronym gets you through objections when selling product?
What is Q.U.I.E.T?
This KPI measures how efficiently a sales advisor is converting showroom traffic into closed deals.
What is Closing ratio? (Or closing percentage)
The common F&I product that covers the difference between what a customer owes on their loan and what the insurance company pays out if the car is totaled.
What is GAP?
The only charge a guest may face at the end of a lease besides excess mileage, related to damage beyond normal wear and tear?
What is Excess Wear and Tear Charge?
The physical process a salesperson must conduct with the guest to lower the guests expectations of their trade in's value by pointing out visible defects.
What is trade walk a round?
What four products benefit your pay plan the most?
What is VSC, Select Care, ECP Appearance, and ECP plus?
The single most valuable source for generating future sales, besides walkin traffic, which is heavily influenced by a high CSI score.
What are referrals? (or repeat guests)
The F&I KPI that measures the average profit generated from F&I products per vehicle sold.
What is PVR?
The two components that make up every monthly lease payment?
What is monthly depreciation and monthly rent charge?
The difference between the wholesale value the dealership pays for the trade-in and the retail price they expect to sell it for.
What is Reconditioning cost? (Or Recon)
What is max mark up on a VSC?
What is $2,000?
What should the sales advisor request from the guest during the post sale follow up phone call?
What is a perfect survey?
The protection product that covers the cost of repairing or replacing tires and wheels damaged by potholes or road hazards.
What is tire and wheel?
The fee charged by the leasing company when a guest returns the vehicle at the end of the term, to cover cleaning and reselling expenses.
What is a disposition fee?
The three most important factors that determine a trade-in's wholesale value besides make and model: Mileage, Condition, and this.
What is Color or Market Demand?
What is max mark up on rate according to Bergstrom standards?
What is 1.75%?
What do we call a new guest entering the showroom?
What is an Up?
This document is required by law to disclose all credit terms, including the APR, total finance charge, and payment schedule.
What is the Federal Truth in Lending Disclosure?
What product will cover any extra fees at the end of a lease?
What is Lease Wear and Use?
The financial term for the amount by which a guest's current loan payoff exceeds the appraised value of their trade-in.
What is negative equity or upside down?