Glossary

NADA GUIDE THE GUIDE PUBLISHED BY THE NATIONAL ASSOCIATION OF AUTOMOBILE DEALERSHIPS ESTABLISHING THE VALUE OF USED VEHICLES - THREE VALUES WILL BE QUOTED - WHOLESALE, AVERAGE TRADE, AND RETAIL. FLAT THE PAYING OF A FIXED COMMISSION PER VEHICLE SOLD. FLOOR PLAN: THE FINANCING PLAN THE DEALER USES TO FINANCE THEIR NEW AND USED VEHICLE INVENTORY: THIS PLAN CAN BE SUPPLIED BY THE MANUFACTURER OR BY A LOCAL BANK OR LENDING INSTITUTUION. OUT OF TRUST: THE CARRYING OF VEHICLES ON THE FLOOR PLAN WHICH HAVE BEEN SOLD. ONE PRICE: THE DEALERSHIP CONCEPT OF SETTING ONE PRICE WITH NO NEGOTIATION. HOLD BACK: THE REBATE GIVEN BY A MANUFACTURER TO A DEALERHIP PER NEW VEHICLE SOLD. THE AMOUNT OF HOLD BACK WILL VARY BY MODEL.