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Is Dealer Cost different than Invoice Price for New Cars?
Posted on 1/29/14 at 2:26 pm
Posted on 1/29/14 at 2:26 pm
Looking at Will Cover rules for new car buying, it mentions "dealer cost". I looked at the normal car buying sites but have come up blank on the dealer cost.
Any ideas where this information can be found?
Any ideas where this information can be found?
3
Posted on 1/29/14 at 2:38 pm to NBR_Exile
As a customer you'll never know what the dealer paid for that vehicle or what kind of incentives they're getting from the manufacturer. There are several sources online that may get you close, hell they'll probably show you an "invoice" at the dealership but you'll never really know.
The salesmen doesn't even know
The salesmen doesn't even know
Posted on 1/29/14 at 7:53 pm to NBR_Exile
quote:
Looking at Will Cover rules for new car buying, it mentions "dealer cost". I looked at the normal car buying sites but have come up blank on the dealer cost. Any ideas where this information can be found?
To start I have never reviewed Will Cover's guide. Dealer cost typically refers to invoice. However the dealership usually gets it cheaper than the publicized invoice.
If you go to NADA website and look up new car prices and see invoice, it will match up with the "dealer invoice" 9 times out of 10.
If you are trading, use NADA website to get the value of the vehicle. The true value of the vehicle is the clean trade value. The dealer will hit you at rough trade value for your vehicle. Just know the clean trade is the true value and that is your bargaining chip.
This information is coming from someone who has worked indirectly with dealerships for quite some time. I do this for a living.
Posted on 1/29/14 at 9:35 pm to NBR_Exile
It's been awhile, but I heard that dealer's have a holdback of 3% from the company which makes the vehicle. If they sell the vehicle within a certain amount of time, they get the 3% back. Thus, their true cost is actually less than the invoice price.
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