Invoice vs MSRP
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Which Invoice there are a few ! The one they show you , actual and as stated the one after hold back there also one minus hold back and incentives.
Also depends if they "floor plan their vehicles"
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Dealer says he is selling me this car at invoice, then taking off rebates. I personally think he is trying to change the words around to get me to stop haggling, the numbers aren't changing just the words. Says msrp is 38490 and giving it to me for 36420, only 70 bucks different from their first offer of 2000 off. They have been ticking me off with confusing the cars we have been looking at, but they are trying to get me a "shaker".
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Don't 'settle' for a car you don't really want or you'll regret the purchase later. Do some internet shopping to find your 'dream car' and travel if need be to get it. This is too big a purchase to just go at it with what the first dealer tells you. Myself, I always go in and offer 20% less than sticker price. First off they laugh at you, but when they realize you're serious about buying a car and someone is going to get your money, they're the someone who wants to get it. If you are serious about buying, play hard ball and get the price you want. It's worked for me on my last two new trucks and my Challenger! All they can say is "no", so then you go somewhere else....
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It used to be around 10% less than the sticker price but its a lot lower now, more like 6 or 7%. If there aren't any rebates or anything, that's not a terrible deal.
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Some web site like msn autos list both the MSRP and invoice for the base plus options. The dealer still has wiggle room to sell below MSRP.
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440 Posts
+1
The key is to do your homework and know exactly what you want - then be patient till you find it on a dealer's lot (the Dodge inventory tool is good for that). Also, if they are asking if you are going to trade in a car, either be non-committal or say "no". Another trick I have used over the years (and is an option for you) is to get pre-approved for a loan that is just above the invoice cost of the car you want (after doing your homework) and if they won't come down to the price you want tell them you have a pre-approved loan and would buy it right then for the right price. Finally, be respectful to the salesman and don't lose you temper. Don't be afraid to walk out if you are not satisfied with the deal or you feel too much pressure to buy something you aren't sure of.
The haggling on the last two new cars I have bought took less than 10 minutes.
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17,675 Posts
Time to move on to another dealership. Research is key to getting a good deal, walking in with cash definitely helps. Timing is key as well.....if a car has been sitting on their lot for months, you'll have more leverage. Salesmen love to throw around words like, we'll give you more for your trade or distract you with rebates. Get what you want and don't settle.
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1,141 Posts
Also, be cautious of all the people on the internet etc. (not here so much) that claim they bought their cars "15%, 20% blah blah blah, 10k off sticker etc. That's one cool thing I saw in a thread here was where people actual had the nuts to post their real deals and no BS! All anyone can do is make the best deal they can, on the car they REALLY want! If you end up paying a little too much for a car you like and want, it's a whole lot better than not paying enough and getting a turd. Been there, done that!
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From the search function here on site.
http://www.challengerforumz.com/showpost.php?p=60549&postcount=1
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I will say I got my car for something around 13% to 15% below sticker price but most of that was incentives from Chrysler not the dealer, or so they told me. I bought the car in September I think and it had been on the lot since the previous November, so around 10 months. The dealer really wanted me to buy that car.
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when i bought my ram 1500 sticker was a bit over 40k . Because the dealership did not sell enought stock that year they sold me the ram at 28k. i of course did not believe they were willing to take that much of a loss on the truck so i asked the finance woman and she showed me the paperwork that the dealer payed just under 34k for the truck. she told me that Chrysler will reimburse them the money they lost as long as they sell whatever their number was for the year.
When I bought my Challenger, the fleet manager was super-motivated to get it off his lot. It had been there for 100 days and the dealership threw in their holdback to make the sale. The fleet manager admitted to me that if they didn't move my Challenger by the next day, they would have to pay penalties to Chrysler. I ended up with a great deal and didn't really have to work that hard to make it happen.
This is where cargurus.com can be really handy for buyers. It will pull up listings in your area and will tell you how long the vehicle has been listed on their site. If you see a Challenger that has been listed for 90 days, it might be worth a gamble to see how motivated the dealership is to sell it to you.
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We also bought in Sept. they took the sticker price and very simply worked the math by deducting 2k "first time buyer rebate", 2k UAW retired family member discount, 2k retired military discount (not me my Dad 30 yr. Navy). So all total 6k off sticker plus they paid for the sunroof install, stripping & window tint and I could have those things installed anywhere I wanted as they paid with credit card over the phone. I used their sunroof shop as their rep is the best and their stripe guy. Found my own tint shop as I wanted an illegal tint. LOL
So, all in all you can work them, you can get what you want. It's not easy but you have to stick to your guns. The only trap you can fall into such as our case was if they have something no one else has. For us it was a Hemi Orange R/T and it was late in the year. So when that happens to some degree they have you. The only thing we had in our favor was cash, literally. Not so sure they were used to that too often. It was kinda fun, felt like drug dealers. LOL It was simply part of the strategy.
So, all in all you can work them, you can get what you want. It's not easy but you have to stick to your guns. The only trap you can fall into such as our case was if they have something no one else has. For us it was a Hemi Orange R/T and it was late in the year. So when that happens to some degree they have you. The only thing we had in our favor was cash, literally. Not so sure they were used to that too often. It was kinda fun, felt like drug dealers. LOL It was simply part of the strategy.
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3,906 Posts
do your homework!!!
unless you have a fully ripened money tree in the back yard, a little homework goes a long way!
also...depending on your situation, money talks! Last couple vehicles I bought, I walked in cash in hand...bank draft really...but you know what I mean...I knew what I wanted and what it was going to cost and I bypassed the sales team and asked for the new car manager. Some places might not like this approach and I apologize to anyone that's in the car sales business...but I really don't need you to sell me a car...I already have that taken care of...I just need someone to do the paperwork, take my money and send me on my way!
unless you have a fully ripened money tree in the back yard, a little homework goes a long way!
also...depending on your situation, money talks! Last couple vehicles I bought, I walked in cash in hand...bank draft really...but you know what I mean...I knew what I wanted and what it was going to cost and I bypassed the sales team and asked for the new car manager. Some places might not like this approach and I apologize to anyone that's in the car sales business...but I really don't need you to sell me a car...I already have that taken care of...I just need someone to do the paperwork, take my money and send me on my way!
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3,617 Posts
Exactly! My wife is currently looking into trading in her current car and she is a bulldog when it comes to haggling! She has spent a very long time researching those selling and buying techniques and how to use a dealers own numbers in getting what she wants! Really, I can't see how she does it but You need to do every bit you can to get what you want at the price you are comfortable with. You may wind up having to let one slip away or do some traveling but there's always another one just around the corner so-to-speak! Lou
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If you go to 3 different dealers and look at the invoice price for 3 identical cars, they will all be different. Each dealer has factored different cost in to the invoice. The cost of selling the car is not your concern.
I was shown an invoice trick by a Ford service writer. Somewhere on the invoice is a code related to the price paid by the dealer to bring the car on to their lot. I have used that number along with consumers guide minus 3 percent as a starting point to negotiate up from.
I was shown an invoice trick by a Ford service writer. Somewhere on the invoice is a code related to the price paid by the dealer to bring the car on to their lot. I have used that number along with consumers guide minus 3 percent as a starting point to negotiate up from.
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