Buying a car: I was told asking for the invoice price and then add $500. What's the best way to haggle?

Question

Also, is the invoice and MSRP the same thing or different?

Also, if you ask for the invoice price, don't they have to show you?

Answer 1

They dont have to show you the invoice but they will, also adding $500 is more than fair you should ask for about $200-$500 below invoice, but becareful because some dealers are given thousands of dollars on certain cars to sell them, this is called dealer cash and may never even know about it.

Buy a Saturday newspaper and use that as a guide, most dealers have real low prices here. But read the fine print.

10 yrs in auto biz

Answer 2

The invoice is supposed to be the cost of the car, that the dealer pays. The MSRP is the window sticker that is on the side window. Everything depends on the model that you are buying. The most popluar models may get full list price, while the models that aren't selling, may be sold below the invoice price.

You can always offer whatever you feel is fair, and if the dealer doesn't take it, then walk away. Come back in a day or two and ask the salesman if the car is still for sale, if it is then give them the same offer, if they don't take it, then again walk away. They will either take the offer or sell it to someone else. Just keep up the process until one of the things happen. Sooner or later, they will sell you the car. good luck

Answer 3

I was in the car business for over 6 years. I was a top salesman than work my way up to Internet director , then finance manager.Here's some advice for you in getting the best at invoice deal.This doesn't apply to cars that are short in supply and high in demand or luxury cars.
1. Research the car your interested in. Take inventory of what are the most important features that your looking for in your next new car purchase.I suggest to check out :
WWW.Kellybluebook.com. You can compare and get all the info you need including pricing,invoice and such.
**Fyi: "MSRP"- Manufactures suggested retail price, also know as the "Window Sticker".
"Invoice" is suppose to be what the dealer paid the manufacture for the car.But there more to it than meets the eye.Behind that invoice price is money that is padded by the dealer from the manufacture in the form of a hold back,Packs, unit bonus ,rent money other incentives.
2.Once selected on the model , know what the invoice price is.
3.Go to at least three dealers,talk to three sells persons from each place, test drive each time. Make it clear your are not buying today,even if they promise you the the sun an the moon. Even if they say today is the last day, because everyday is the last day for them.Make it point to meet a sales mangers and get thier business card & number. You do all this to show them each time your serious in buying a car.
4.Get your own Financing or approval on hand . go to your own bank or go online .
5.Wait till the end of the month , on the last day to start your attack on a "Great Deal". Go to the dealer that made the top of your list and sit down with the sales person and offer to buy that day at invoice price. They will say no or counter with something else, but stick to your guns. On the last day they are competing with the other dealers in town for the most units sold. Let them know that you giving them first opportunity before you go else where to get what you want. Keep this up, at the last hour someone will take your offer to meet their quota. Good Luck.
Ps. Don't buy anything the finance manager is selling. You can get every thing they are selling on your own for less.
for example a 2 or 3 year extended warranty they may charge you $3000 , which may cost them $300-500. They can sell it to you, IF they wanted to for $600-800 and of your a good negotiator.Good Luck.
pps.: Yes you can ask for the invoice price sheet that is on very car . When they give you the invoice besure to compare the :"VIN", vehicle id number that on the sheet to the car to insure they giving you the real deal.

Answer 4

The "factory invoice price" is theoretically what the car dealer paid the manufacturer for the car. The dealer will actually have a printed invoice that shows this price figure. It is less than the "manufacturer's suggested retail price" (MSRP), which is the "list price" shown on the window "sticker" of the car and is the price for which the manufacturer theoretically thinks the car should be sold to you.
http://www.automotive.com/Buy_New/Car_Buying_Tips/invoice-pricing-faqs.aspx


What I do is research the vehicle I want. When I find something I like, I have a good idea what I will pay. Say it $10,000. I slap $10,000 on the desk and say; "This what I give you"! They have to talk to the Owner/Manager and come back and say yes or no and if it no, I put the money back in my pocket and leave.
Once a person learns to save, instead of borrow money, they can do this. I saving for a boat now, it will be used, but, when I have my money, I will know what I pay and that what I will offer, cash deal, give me a clear title!

Answer 5

Invoice price is what the dealer paid to get the car from the manufacturer....MSRP is the "suggested" retail price. If you can find out the invoice price on the car, then negotiate with the dealer on how much profit you're willing to pay to get the vehicle. Consumer Reports has lots of info on car buying tips and invoice pricing---always buy at the end of the month when pressure is on to hit sales goals. Be ready to walk away from a deal if they don't want to give you what you want if you think it's fair. If haggling is not for you, there are dealers that already discount their prices and have a no-haggle pricing structure. Still best to see what invoice is to see how much they're making on the deal. Dealers aso get a "hold-back" amount from the manufacturer that is profit for them and if they sell a car soon after they get it from the manufacturer, they save on financing the cost of having the car versus keeping it for month's.

Answer 6

Many dealers have fake invoice price. Your best bet is shop around and compare prices. Take who ever offer you the best deal. Tell the sale guy up front that this is what you are doing and he/she is not going to get the sale if he does not give you the best price. After getting a price, walk out. Don't waste time. If they didn't give you the best deal, they know that they would not make the sale so they usually call you in a day or two to offer you better price.

Answer 7

I normally take 15 to 20% off the MSRP & start the offer there. Make sure it's manufactures MSRP, not the dealer's.
eg. A GM vehicle will have a GM MSRP, not Honnest Bob's Discount Auto Sales. Do your homework & shop between dealers of your chosen brand.
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