dipped
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.
The Urban Dictionary Mug
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