This is the act of a company or salesperson who had taken a customer to a
second rate lending institution or in the auto industry what is called a "
mouse house". These lenders such as HFC or Lending Tree grant loans to people with substandard credit scores and then charge very high interest rates. Being dipped is the act of helping the purchaser to obtain the 2nd loan and get the down payment cash for
the principal loan.
" Hey Fred, you client needs $2000K down and you will needed to get them "dipped" if they don't have cash. "
" Their trade-in has $500
negative equity so get them dipped for $1500 which
pay off their debt and give them a grand down if they don't have any cash."