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Glossary

Car Dealer Slang, Decoded

Car salespeople have a language of their own. Most of it is friendly, some of it is useful, and a little of it is designed to move you toward "yes" before you've finished thinking.

Here's a translator so you know what you're hearing at the dealership, and at the refinance desk.

Get my free quoteRates as low as 6.93% APR for qualified applicants. All financing is subject to credit approval.

The classics

  • "Let me talk to my manager": I'm going to walk a few steps away and come back with the same number, but slower.
  • "This won't last long": It has been on the lot for 84 days and I'd like it to leave.
  • "We're basically at invoice": We are at an invoice that includes things you didn't ask about.
  • "It's certified": We, the people selling it, certified it. With a pen.
  • "Previous owner was a little old lady": A person owned it. The rest is atmosphere.
  • "Be-backs never buy": I am mildly annoyed you left.

Numbers and fees

  • "Doc fee": A charge for the printer that printed the charge.
  • "Admin fee": Administration of the act of charging you.
  • "Paint and fabric protection": A product with a generous margin and a confident name.
  • "Buy rate": The rate the lender offered. The rate you got is the buy rate plus a little something for the house.
  • "Four-square": A worksheet that makes the payment the star and the price the extra.
  • "Upside down": You owe more than the car is worth, but said with a smile.
  • "Rolling the negative": Moving last car's debt into this car's loan. Slow clap.

Refinance desk translations

  • "Your rate is competitive": Compared to the highest rate I have on file.
  • "We can lower your payment": By making the loan longer. Total cost goes up, but the number shrinks.
  • "It's a soft pull": It usually is, until it isn't. Ask before you sign.
  • "The lender requires it": Sometimes true, sometimes a sales floor with better lighting.
  • "You're pre-approved": Pre-approved for an offer, not a guarantee. Read the rest.
  • "Add the warranty to the payment": Adding interest to the warranty is a feature, for them.

What to say back

  • "I'll think about it": A complete sentence. Use it freely.
  • "Can I see the out-the-door price?": The only number that matters for comparison.
  • "I'd like to compare offers": The most powerful sentence in the building.
  • "I'll finance through my own lender": The markup discussion ends here.
  • "Not today": A perfectly fine answer, repeated as needed.

Save thousands

Save thousands by refinancing your vehicle anywhere in Canada.

Free to apply, no obligation, and no credit check to pre-qualify.

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Frequently asked questions

No. Most salespeople are honest, and many of these phrases are just shorthand. The point is to understand them so you can negotiate on the numbers, not the mood.

Compare offers from more than one lender before signing. Refinancing later with a direct lender often removes the dealer reserve and lowers the rate.

"Let me see the out-the-door price in writing." It moves every conversation onto facts.

Keep reading

50 Hilarious Car Dealer JokesHow to negotiate with a car dealerHow to lower your car loan interest rateCar refinancing: the pros and the consThe truth about 0% interest car loans

Start saving and keep driving your car

You could save $1,000's in interest. It starts with one short application.

Free to apply, no obligation, and no credit check to complete your pre-qualification.

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*No credit check is required to complete the initial pre-qualification. This is not a loan approval or a guarantee of financing. Final approval, rates, terms and conditions are subject to lender requirements and may require a credit check.