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re: Car buying: Invoice Price vs. Drive off Price
Posted on 6/12/18 at 3:03 pm to kywildcatfanone
Posted on 6/12/18 at 3:03 pm to kywildcatfanone
quote:
Drive off price is that negotiated price plus TTL
I considered drive off price inclusive of every penny out of my pocket. Essentially, we negotiated a price, then when they gave me the total including TTL, I told them now let's make it so that my total cost is the price I wanted. That allowed me to avoid all the line item vetoes and time consuming walk aways. Not surprisingly, when they said yes and I got the itemized sheet, there were no fees other than TTL. My total cost including TTL was under invoice, so I essentially got a price about 6% under invoice before TTL.
Car buying is a lot easier these days than the last time I bought. We test drove all the ones we were considering, chose the car we wanted, then simply contacted a bunch of dealers via email and phone to get the best price based on research and incentives. By last night, I had two going back and forth trying to get it down to my ask. One got close, the other nailed it.
1
Posted on 6/12/18 at 3:36 pm to GRTiger
They sent you copy of a photo shopped invoice?
Posted on 6/12/18 at 3:38 pm to kywildcatfanone
quote:
I just bought a 2018, ask me anything.
In 3 years I'll be buying an 18.
Posted on 6/12/18 at 3:46 pm to mikelbr
Anyone know how close using truecar is? Should that be a benchmark?
Posted on 6/12/18 at 4:07 pm to GRTiger
A car salesman can tell you whatever he wants. His sales manager probably just makes up "invoice" prices off of the top of his head. People are dumb and gullible.
Just pay what you feel comfortable paying
Just pay what you feel comfortable paying
Posted on 6/12/18 at 6:32 pm to Hammertime
quote:
A car salesman can tell you whatever he wants. His sales manager probably just makes up "invoice" prices off of the top of his head. People are dumb and gullible.
Just pay what you feel comfortable paying
I paid exactly what I was comfortable paying, do the penny. Thought that was clear in the post.
I am well aware that the invoice price hasn't really been the actual cost to the dealer since the internet became a thing. "Invoice price" is still a point of reference for discussion, though. I didn't even see the invoice on this particular vehicle until we had agreed to a price and were reviewing the documents.
Again, this thread wasn't about asking the OT gurus on how to buy a car. I already did that. It was a question on the general definition people use when speaking from a perspective of invoice price.
These "I know my shite" posts that are mostly masturbatory in nature did prompt another question. For the people who say "MSRP is worthless and should be ignored. Also, invoice price is fake and made up and should be ignored," what's your reference point for a car? What if you're comfortable paying $70k for a car with an MSRP of $50k and an "invoice" of $44k?
How do you have any clue on the price of a car if you follow your own advice?
Posted on 6/12/18 at 6:42 pm to Chad504boy
quote:
i told my salesman what i was going to pay each month and he made it happen. that's how you negotiate.
This can work if you do it the right way. Do your homework ahead of time. If you know your credit score and what term you are will to do and don't budget it can work. The only way they can get to the number you want is by dropping the price of the vehicle.
Posted on 6/12/18 at 6:49 pm to barry
quote:if they are knocking off $125 an hour I’ll stay til they stop
I'm not going to spend 4 hours at the dealership to knock off another 500 bucks.
Posted on 6/12/18 at 7:18 pm to yellowfin
But the car is depreciating faster than that.
Posted on 6/12/18 at 7:21 pm to GRTiger
Just don't even go in there. I just call all the dealers and tell them what I want for what price. Last time I told them don't call me back if you won't sell it for that much.
Posted on 6/12/18 at 7:34 pm to Goldrush25
quote:
People overcomplicate car buying. Pay what you're comfortable paying.
You are the kind that the dealerships love
Posted on 6/12/18 at 7:40 pm to deeprig9
quote:
But the car is depreciating faster than that.
Posted on 6/12/18 at 7:54 pm to GRTiger
I thought this was the OT. I have a guy who buys my vehicles for me. He’s my car guy. I don’t even tell him what I want. He just knows shite and gets it done for me. No clue what we pay for my vehicles. But I pay my car guy 150k per year to handle all my cars at all my houses. I don’t even know how many I own, but it’s at least 10
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