What is a 5 pounder in car sales?
Five-Pounder – This term can have any number in front of the “Pounder.” A pound represents $1000. A five-pounder would be $5,000 in gross profit on the car deal. Some dealers only count the frontend profit, but some will count the front and backend of a car deal for the total pounds.
How do you walk around on a car?
As an example, touch on the front end followed by the right side, rear end, left side, then driver’s seat. Keep each walk-around point to a minute or two so the customer’s attention isn’t lost. At each stop along the way, pick two or three items that are unique or set the vehicle apart from the competition.
Why is it important to do a vehicle walk around with the customer?
The service walk-around with the customer immediately builds rapport, enabling the service advisor to discuss any concerns with the customer. But just as importantly, the more time the service advisor spends with the customer, the more likely the customer is to say yes to service or repair recommendations.
What is a 360 walk around?
A 360 degree Walk Around inspection involves the driver checking the top and bottom of the vehicle to assure there is enough height clearance, the sides of the vehicle, and the front and back before departing or backing in the vehicle. Another thing to remember is to always use your wheel chocks and cones when parked.
What are STIPs in car sales?
Typically, verifying loan references or as often called stipulations (STIPs) requires staff to devote countless hours on multiple phone calls to verify addresses and workplace information. These are hours that would be better spent serving customers and selling vehicles.
What is a pencil in car sales?
If a manager gives them a “pencil” (a worksheet showing the selling price of a vehicle) at full sticker price, they’ll present that pencil to the customer—even when the customer has already told them that they’ll walk if the salesman comes back at full sticker.
Where should you start a walk-around?
Daily walk-around procedure – items to check Starting at the front of the vehicle and going down the left side of the vehicle, from the front to the back (facing the direction of an approaching vehicle) check the following.
How do you walk-around properly?
Tips for walking properly
- Keep your head up. When you’re walking, focus on standing tall with your chin parallel to the ground and your ears aligned above your shoulders.
- Lengthen your back.
- Keep your shoulders down and back.
- Engage your core.
- Swing your arms.
- Step from heel to toe.
What is a vehicle walk-around?
The walkaround is a chance to connect the dots between the virtual showroom and the actual sale, and to begin to build trust that we have their back and we are there to help them purchase the perfect vehicle for their needs. It is one of the best tools we have, and we can’t afford to shortchange it.
When conducting a 360 degree walk around what are you looking for?
Do a 360-degree walk-around. Walking around a vehicle gives the driver a first-hand view of the backing area and any limitations. Check for children, soft or muddy areas, potholes, tire hazards, light poles, wires, low-hanging tree branches and other dangers.
When performing a walk around your vehicle where should you start?
Begin by walking clockwise around the vehicle and check:
- Each tire as you pass it for damage, cuts or obvious problems including low pressure.
- Headlights, taillights and turn signal operation.
- Glass and mirror cleanliness and condition.
- Look for damage on any part of the vehicle and report it if found BEFORE driving.
What does RO stand for in car sales?
Repair Order (R.O.) — The service advisor at the dealership creates this document when a car is brought in for service. When writing the R.O., the advisor records the customer’s complaint and gains authorization from the customer to work on the vehicle.