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332 Posts
Hi All,
I thought I would post a little guide to help those out who are new to the car buying game and may need a little hand when negotiating.
The POC is known as the Priced Order Confirmation Sheet, almost everyone will have seen the "customer" version of this sheet at sometime. The customer version only ever shows the sticker price (MSRP), the dealer version offers you more info.
So most dealers have a limit as to where they are prepared to negotiate to. The Challenger is a difficult car to sell because the market is pretty small. Chrysler also never seem to offer many (if any) incentives on these vehicles, they are pretty much always in the Wrangler category when it comes to incentives.
I have highlighted some of the bits to talk about.
Yellow: So this shows you two prices, the one we all know MSRP (sticker price) and the one that few are familiar with, FWP. This is Fleet (or factory, depending who you ask) Wholesale Price. FWP is also known as the invoice price.
In an ideal world, a dealer will always try to sell at sticker, after all, that's what Chrysler recommend you sell it at. Some dealers might meet you in the middle between FWP and MSRP, some even do certain percentage programs over FWP, or even under FWP.
Blue: This is what is known as hold back. This is what the dealer gets from Chrysler for selling a vehicle. If a dealer sells at FWP, they will earn this amount from Chrysler. Some dealers may negotiate to the point where they start eating into the holdback amount. Not many will to be honest, they still have to make money on these vehicles.
Green: This is friends and family purchase.
Pink: This is employee purchase.
The idea behind me writing this is so you can try and get straight to a deal without spending a lot of time negotiating over prices/monthly figures etc.
I personally will always try and give people a reasonable deal which works for both the customer and the dealer, not necessarily what works best for my pocket. I would much rather see someone leave knowing they got a good deal instead of leaving thinking they may have been robbed.
I would suggest that getting close to FWP would be considered a very good deal. Asking a dealer to go into holdback would be a great deal, but it is very tough to get one to do that, it all depends on numbers needed on the specific type of vehicle, unfortunately the Challenger never really seems to fall into that category.
A dealer would also receive unspecified bonuses from Chrysler for achieving certain goals, so buying at the middle or end of the month may help you get a better deal.
I hope this helps anyone who is considering purchasing a Challenger in the future, feel free to ask if you need any info.
:smileup:
I thought I would post a little guide to help those out who are new to the car buying game and may need a little hand when negotiating.
The POC is known as the Priced Order Confirmation Sheet, almost everyone will have seen the "customer" version of this sheet at sometime. The customer version only ever shows the sticker price (MSRP), the dealer version offers you more info.
So most dealers have a limit as to where they are prepared to negotiate to. The Challenger is a difficult car to sell because the market is pretty small. Chrysler also never seem to offer many (if any) incentives on these vehicles, they are pretty much always in the Wrangler category when it comes to incentives.
I have highlighted some of the bits to talk about.
Yellow: So this shows you two prices, the one we all know MSRP (sticker price) and the one that few are familiar with, FWP. This is Fleet (or factory, depending who you ask) Wholesale Price. FWP is also known as the invoice price.
In an ideal world, a dealer will always try to sell at sticker, after all, that's what Chrysler recommend you sell it at. Some dealers might meet you in the middle between FWP and MSRP, some even do certain percentage programs over FWP, or even under FWP.
Blue: This is what is known as hold back. This is what the dealer gets from Chrysler for selling a vehicle. If a dealer sells at FWP, they will earn this amount from Chrysler. Some dealers may negotiate to the point where they start eating into the holdback amount. Not many will to be honest, they still have to make money on these vehicles.
Green: This is friends and family purchase.
Pink: This is employee purchase.
The idea behind me writing this is so you can try and get straight to a deal without spending a lot of time negotiating over prices/monthly figures etc.
I personally will always try and give people a reasonable deal which works for both the customer and the dealer, not necessarily what works best for my pocket. I would much rather see someone leave knowing they got a good deal instead of leaving thinking they may have been robbed.
I would suggest that getting close to FWP would be considered a very good deal. Asking a dealer to go into holdback would be a great deal, but it is very tough to get one to do that, it all depends on numbers needed on the specific type of vehicle, unfortunately the Challenger never really seems to fall into that category.
A dealer would also receive unspecified bonuses from Chrysler for achieving certain goals, so buying at the middle or end of the month may help you get a better deal.
I hope this helps anyone who is considering purchasing a Challenger in the future, feel free to ask if you need any info.
:smileup:
