A.
Agreement – A legally binding contract between the lender and borrower detailing payment schedules, interest, fees, and rights under UK consumer credit law.
ABS (Anti-lock Braking System) – Prevents wheels from locking during braking, improving control.
A-Pillar – The vertical support on either side of the windscreen; key to structural integrity and rollover protection.
Adaptive Cruise Control – Uses radar or cameras to maintain distance from the vehicle ahead.
AdBlue – Diesel exhaust fluid used to reduce emissions in modern diesel engines.
Admin - The unsung heroes who do all the background stuff that sales executives hate.
Alloys – Lightweight metal wheels, often a selling point for style and performance.
Amount of Credit – The total sum of money lent to a customer under a finance agreement, excluding interest and fees.
Appraisal – The process of valuing a part-exchange vehicle.
APR (Annual Percentage Rate) – The annual rate showing the total cost of borrowing, including interest and all scheduled fees.
Arrears – Amounts unpaid past their due date in a finance contract, signalling late‐payment status.
Asking Price – The advertised price before negotiation.
Authorised Dealer – A franchise or independent dealer officially approved by a manufacturer.
B.
BAS (Brake Assist System) – Automatically boosts braking power during emergencies to shorten stopping distance.
BEV (Battery Electric Vehicle) – A fully electric car powered by rechargeable battery packs.
Bi-Xenon Headlamps – Headlights that use a single bulb for both high and low beams via a movable shutter.
Blind Spot Monitor – Sensors that detect vehicles in areas not visible in side mirrors.
B-Pillar – Upright support between front and rear doors, housing seatbelt mounts and side-impact beams.
Balloon Payment – A large final payment at the end of a PCP or lease agreement.
Base Rate – The interest rate set by a lender before any adjustments or margins.
BM (Business Manager) - Looks after Finance, Insurance etc
Book Value – The estimated market value of a vehicle, often used in part exchange valuations.
Bums on Seats (Sells Cars) - Try it before you buy it, customers are more likely to buy if they have driven it.
Broker – A specialist intermediary who sources and negotiates finance deals between the borrower and the lender.
Burnt/Burned - Not qualifying customers correctly and the customer vanishes faster than cookies in the sales office.
C.
CAP / Glass's - Trade guides often used to value used cars.
CCA (Consumer Credit Act 1974) – UK legislation protecting consumers in credit agreements by enforcing transparency and granting rights like withdrawal periods.
CCJ (County Court Judgment) – A court order issued when a borrower fails to repay debts; it remains on their record for six years and damages creditworthiness.
C-Pillar – The vertical support between the rear side window and the rear window.
Catalytic Converter – An emissions-control device that converts harmful exhaust gases into less harmful substances through a chemical reaction.
Captive Finance Company – A lending arm owned by a manufacturer (e.g., Ford Credit) providing finance packages specific to that brand.
Closer – A salesperson renowned for consistently sealing deals.
Cooling-Off Period – The mandated 14-day window under the Consumer Credit Act during which a borrower can rescind a credit agreement without penalty.
Cold Call – An unsolicited outbound call to a prospect with whom no prior contact exists.
Cut-and-Shut – Two written-off cars welded together; best avoided.
D.
Deal Prevention Officer - See Admin. Colloquial term used when admin stop the sales team from cutting corners.
Deposit Contribution - A financial incentive when you take a lenders finance deal. They put money towards the deposit lowering your upfront cost but tying you to the finance terms.
Depreciation - The amount your car falls in value due to age, mileage, wear and tear and VAT.
DP/HoB (Dealer Principal/Head of Business) - The boss.
Ducks on the Pond - Customers on the sales pitch.
DPF (Diesel Particulate Filter) – Device that traps soot from diesel exhaust.
E.
Expensive car supplement – sometimes called the 'luxury car tax' is an additional annual tax on cars over £40,000 (payable from 1 year old to 6 years old).
Equity – Positive or negative difference between a vehicle’s value and its outstanding finance.
Emission Standard – Regulatory limit on exhaust pollutants (e.g. Euro 6).
F.
F&I (Finance & Insurance) – Department handling customer finance packages and add-on products.
Fair Wear & Tear – Acceptable level of damage on leased vehicles at return.
FCA (Financial Conduct Authority) - The independent body responsible for regulating finance agreements in the UK.
FLA (Finance and Leasing Association) - A finance trade body promoting responsible lending, regulatory standards and professional development across the industry.
Flipper – Dealer or buyer who turns vehicles quickly for small profits.
G.
GAP Insurance – Guaranteed Asset Protection insurance covering the shortfall between a car’s insurance payout and the outstanding finance balance if the vehicle is written off or stolen.
H.
HP (Hire Purchase) – A finance arrangement where the customer pays fixed monthly instalments and acquires ownership of the vehicle at the end of the term.
HPI Check – Vehicle history report revealing finance flags, mileage discrepancies, and write-offs.
I.
Immobiliser – Security system preventing engine start without the correct electronic key.
Incentive – Manufacturer or dealer discount to drive sales of specific models.
ISOFIX – Standardised anchors and tethers for child seats.
J.
Jump Leads – Cables used to jump-start a flat battery from another vehicle.
Jam Jar – Informal slang for any car; often older or well-used.
K.
KPI (Key Performance Indicator) – Metric used to assess a sales executive's or department's performance.
Kerb Weight – Vehicle mass with standard equipment and fluids, without passengers or cargo.
L.
Luxury Car Tax - see Expensive Car Supplement.
Lender – Finance provider underwriting the customer’s loan or lease.
M.
MoT (Ministry of Transport Test) – Annual safety and emissions inspection for UK cars over three years old.
Motability Scheme - a scheme allowing eligible disabled people to lease a new car, scooter, or powered wheelchair using their mobility allowance, with insurance, servicing, and breakdown cover included.
Minter – Immaculate, showroom-fresh vehicle in pristine condition.
Mild Hybrid (MHEV) - a car that uses a small electric motor to support the petrol or diesel engine, helping improve fuel efficiency and reduce emissions without needing to be plugged in.
Metal – The collective fleet on the forecourt (“We’ve moved a lot of metal this month”).
N.
Negative Equity – Owing more on finance than the vehicle’s current market value.
No-Show – Customer who fails to attend a booked appointment or test drive.
NTU - Sales exec shorthand for a no show (Not Turned Up).
O.
OEM (Original Equipment Manufacturer) – Parts or accessories produced by the vehicle maker.
On the Hook – Sales Exec slang for a committed customer.
Over Allowance - Inflating the value of the Part Exchange to make the deal work.
Oversteer - When the rear of the car loses grip and starts trying to overtake the front.
P.
PCP (Personal Contract Purchase) – A popular finance option featuring lower monthly payments and an end-of-term balloon payment, with options to purchase, part-exchange, or return the vehicle.
PTP (Proposal to Purchase) – Usually shortened to 'Prop'. The initial finance application sent to lenders summarising the customer’s details and desired terms for pre-approval before contract paperwork.
Plug-in Hybrid Electric Vehicle (PHEV) - a car that combines a petrol or diesel engine with an electric motor and rechargeable battery, allowing it to drive on electric power alone for short distances before switching to fuel for longer range.
Part-Ex (Part Exchange) – Trading in a customer’s old car against the purchase price of a new one.
Paddle Shifters – Steering-wheel levers for manual gear changes in automatic cars.
Paint Protection - invisible coatings such as waxes or ceramics applied to car bodywork to guard against UV damage, bird lime and road grime.
Prep/Recon - vehicle preparation/reconditioning before sale such as paint/bodywork repairs, servicing, MOT's and cleaning.
Punter – Slang for a prospective or existing customer.
Q.
Quick Quote – Fast estimate of a vehicle’s price or finance terms.
Quarter Panel – Body section between the rear side door and the rear light cluster.
R.
Reg (Registration) Plate – Number plate; also shorthand for a car’s model year.
Residual Value - The value of your car after depreciation, often referred to in PCP agreements.
Rust Bucket – A vehicle with so much corrosion it looks like a rolling scrap heap. If you still use this you're getting on a bit.
Regenerative Braking – EV and hybrid system capturing energy under deceleration.
S.
SAF (Specialised Automotive Finance) - A UK training standard launched by the FLA to boost professionalism and regulatory knowledge among dealership and finance staff.
Screamer - Angry customer who feels they aren't getting the standard of service they deserve. Sometimes justified sometimes not.
Settlement (Figure) - The payment amount required to cover all outstanding money owed to end a finance agreement.
Shed – Typically a battered, cheap and unreliable used car - barely roadworthy but still clinging to life.
Stickered Up – A car sporting lots of forecourt decals—“1 OWNER,” “LOW MILES,” “0% FINANCE.”
Slammed – A car with its suspension lowered or modified for an ultra-low stance.
T.
Test Drive Pilot - A customer who wants to test drive a specific car without much intention to purchase.
Time Waster – A lead who ghosts appointments or strings you along without a serious intent to buy despite repeated follow-ups.
TCO (Total Cost of Ownership) – Comprehensive cost covering purchase, finance, maintenance, fuel, and depreciation.
Tyre Kicker - Timewaster who won't buy. Often used by sales executives who haven't qualified properly.
U.
Upside Down – Colloquial for negative equity (owing more than the car’s worth).
Upsell – Offering a customer add on products such as Paint Protection or GAP insurance or a higher-spec model.
ULEZ (Ultra Low Emission Zone) - A London wide zone where driving a polluting vehicle incurs a daily charge. EV's are exempt.
Understeer – Handling characteristic where a car pushes wide in corners due to front-wheel slip.
Unit - 1 unit = 1 car. "How many units did you do last month?"
V.
VT (Voluntary Termination) – The right under a PCP or HP agreement to end the contract early after paying at least 50 percent of the total payable amount, as stipulated by the Consumer Credit Act.
VAT Margin Scheme – VAT method where tax is paid only on the dealer’s margin, not full sale price.
VED (Vehicle Excise Duty) – "Road Tax" annual tax for driving on UK roads.
VIN (Vehicle Identification Number) – Unique 17-character code for each vehicle.
W.
Wholesale Auction – Dealer-only event for buying and selling used stock.
Warranty – Manufacturer or dealer guarantee covering certain repairs under set conditions.
Weak Money – Poor resale value in the used-car market.
Z.
ZEV (Zero-Emission Vehicle) – Car producing no tailpipe emissions (typically electric).
Zero-Deposit – Finance deal requiring no initial deposit from the buyer.