What does front end gross mean?
Everyone in the retail automobile industry is familiar with the terms “front-end” and “back-end.” They represent two sources of potential revenue (and, hopefully, profit) for auto dealerships: The “front-end” refers to revenue realized on the sale of the vehicle and the “back-end” includes revenue on anything sold …
What is a pounder in car sales?
Pounder: A deal with a $1,000 profit in it.
What is dealer PAC?
He talks about how dealers use what is called “PAC,” which stands for “Protected Against Commission, to ensure they make money on every car they sell, even if that means the salesperson walks away with only a few dollars.
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How do car dealers make money on the back end?
Back-end commission is earned through financing and when salespeople sell customers insurance packages, extended services and so forth.
How do car dealerships pay salesman?
Most dealerships pay salesmen a paltry base salary of roughly minimum wage. Salesmen then typically earn commissions of 25% of the dealership’s gross profit on the car. The commission can put an extra $300 to $400 in a salesman’s pocket per car sold, and the average salesman sells ten cars per month.
What is a stroke in car sales?
Stroke, Stroker* – Slang term used to describe a person that is just wasting a salesman’s time and either will not buy or not ready to buy.
What is a hat trick in sales?
Hat Trick – Stolen from the hockey league, a hat trick is when a car salesman sells three cars in a day. House – A nickname for the actual dealership.
What is dealer PAC fee?
Those are bogus charges added by dealers as an artificial buffer to bargaing down the price and are added to the MSRP.
What is a pack fee?
a pack fee is something the dealer adds to the internal cost of the car…………..so if the dealer says they have a 500 dollar pack, the sales managers cost would be 500 over invoice……………the 500 dollars generally just pads the owners pockets.