The process begins by asking the customer how much they want for a monthly payment. Usually, they say, about $300. "Then, you just say, '$300... up to?' And they'll say, 'Well, $350.' Now they've just bumped themselves $50 a month. That's huge." You then fill in $350 under the monthly payment box.
Michael said you could use the "up to" trick with the down payment too. "If Mr. Customer says he wants to put down $2000, you say, "Up to?" And he'll probably bump himself up to $2500." Michael then wrote $2,500 in the down payment box of the 4-square worksheet.
I later found out this little phrase "Up to?" was a joke around the dealership. When salesmen or women passed each other in the hallways, they would say, "Up to?" and break out laughing.
Refies also present seductive alternatives that can be hard to pass up. More money in your pocket (lower monthly payment), but you're not thinking about that fact you'll need to work for five more years. Speaking of which, I can go from my 20 year (1 year in) to a 30 year, taking out $100k, and still have lower payments. I then take the $100k to the casino -- what could go wrong?