No idea. But I can only hope “car+invoice+price” on Google would help.
>www.edmunds.com<
is my favorite site for car prices/values
About fifteen years ago in a business class the professor said that no matter what the window sicker price is, and what the add on’s are, the dealer pays 10-15% less than the base price listed, depending on their inventory turnover.
Assuming he was correct, I do not know if that still holds.
I have purchased two new cars in my life and both times I offered 5%less than the base price, and received it. Also I went on the last day of the month, and one month before the new cars hit the lot.
Last new car I bought was ten years ago, so who knows now.
Hyundai’s have really stepped up in the last 5 years or so - and I’m sure you can find a lot of info, some of it maybe even accurate, pertaining to your search.
But my question is this: is it your “right” to know the mark up on purchases you make? Why is it necessary you know the supposed profit, as opposed to simply knowing the best price you can get? I am all for being a wise shopper, but I am not thinking “profit” made by a private business is really any of our business.
Invoice price to a dealer may not necessarily be an indicator of the bottom price for a sale. Things like dealer volume of sales, advertizing allowances, special financing, monthly sales targets, etc may also factor into getting the lowest price. Good luck with her hunt.
- Factory Invoice. What the Dealer pays the Factory for the vehicle, minus any "hold-back" that the Dealer gets from the factory for taking delivery of the car.
-Dealer Invoice. What the Dealer has paid for the vehicle plus any "upgrades" or "add-on's" to the car that were performed at the factory, or after the dealer received the car and had third-party add-on's put on the vehicle, typically from a local shop/provider.
- Customer Invoice. That'll be the deal your daughter actually signs to buy the vehicle. Customer Invoice is the document she signs agreeing to the price, which is then used to generate the Sales Contract.
99 times out of 100, you will never see the Factory Invoice. You'll see the Dealer Invoice, which has already included their built-in profit from the factory.
If you want the best deal on a car, here's what you do:
- Ask which vehicles of the type your daughter is looking for have come in during the last week.
- Look at those cars, choose one.
Any car that's arrived in the dealer in the last week has likely not yet been financed by the dealer's bank. That means they haven't had to include it in their "floor plan." The "floor plan" simply stated are all the cars on the dealer's lot that are financed by the dealer's bank, and includes any insurance required to protect the vehicle in case of loss (theft) or damage (hail storm, vandalism, etc..) as well as any "prep" and advertising charges. Prep is simply removing the plastic bumper covers, putting in floormats, checking fluids, etc.. The dealer also has to pay to advertise the car for sale, insure it while on the lot, etc..
By finding a car on the lot a week old or less, the Dealer hasn't incurred floor-plan finance charges with their bank yet, and you don't want to pay for those charges.
You also don't want to pay any of the dealer incurred cost of insuring, advertising, maintaining the vehicle since it's been on their lot since they haven't incurred those charges on a week old car.
In fact, what you can do is negotiate those charges OUT of the sales price AND negotiate part of the hold-back away from the dealer, and into your pocket. (There are websites you can find that information.)
On an average car, the Dealer's "hold-back" from the factory is anywhere from $250 - $1500 or higher, depending on the car. On lower model cars, hold-back is pretty low. On more expensive models, the hold-back can be $1500 or higher.
By finding a vehicle that suits your needs that's been on the dealer's lot a week or less, and armed with the cost of options, dealer hold-back amounts and the fees the dealer pays for keeping a car on the lot you can negotiate yourself a very good deal, typically within the hold-back the Dealer gets from the factory.
I'll also tell you that a new car is the WORST thing you can buy, financially speaking. The second you drive it off the lot it loses 1/3 of it's value to you. Your absolute best deals in buying cars is to find a 2-3 year old model with low to medium mileage on it as someone else has already taken that 1/3 depreciation hit. Used cars typically are not as risky to buy as they were in the 80's, 90's or early 2000's. The quality on cars is up dramatically, and its easy to tell a well maintained vehicle from a poorly maintained one if you know what to look for.
For myself, I always buy something 3 years old since I drive 8 miles/day. If it breaks down, the wife can come and get me. She gets the new vehicle since she's the one carting the kids around all the time. That's just personal preference.
Helpful tips here: http://www.investopedia.com/articles/pf/09/best-price-on-a-new-car.asp#axzz2LkfKxLcv Good luck to you!
There are a number of services that will provide you with all this information. I have used some of the following:
One approach you can use is to email the Internet sales at nearby dealers (as many as you can), asking for a quote on a specific model of car with specific option packages. Wait until you are ready to buy, and let them know that you will be buying from the dealer with the most competitive quote within the week. I recommend that you first walk around some of their lots to see what option packages the dealers are ordering. Otherwise you risk asking for a quote on something they don't have in stock, and that will add confusion to the process.
Once you get the quotes back, compare it with information you got from the sites that I mentioned above. In my case, every time I have done this I got very good pricing. You can also go into the dealer and negotiate directly. There are many dealers out there now that don't mess around and have more honest, direct pricing. However, I still like to use my email technique to get a range of quotes. In fact, I purchased my Ford F-150 using this approach about 6 months ago - worked great.
Just choose the model and any options, select a few colors that she would like and start shopping, use an online site like AutoTrader set for a 200 mile radius, they have new cars from dealers too. Get written offers. Play one dealer against another and then buy the lowest one with which you’re comfortable. Leave trade, down payment and financing out of it during price negotiations. As far as they know, you’re walking in with a certified check from your bank. Cut off as many avenues for game-playing as possible, because they will play them. Watch the contract, they’ll try to recoup some money there. Be willing to get up and walk out. They’ll try to wear you down by keeping you there for hours.
For when your salesman tells you he is going to go "see his manager" to get you a better price, what is really going on is that he is simply stalling for time because they know the longer they keep you in that showroom, the more likely you will eventually come to terms. The sales reps and the managers are in cahoots and the object is to keep as much "margin" in the deal for themselves as possible.
Here are some tips for buying a new car.
Lots of other resources online, too:
Everything you need to buy a new car
HowStuffWorks "How Buying A Car Works," car purchasing advice
And don't forget online purchasing agents who, for a fee, will do the haggling for you and get you the absolute lowest price they can:
A few years ago we went shopping to get my wife a new SUV. After haggling all afternoon with the dealer, and using every trick in the book we had learned online, we walked away from his best offer and called CarsDirect. They got us the same car, with the same options -- for ten dollars less than we had negotiated on our own and charged us a $100 flat fee, lol. So we were out $90. But my wife felt better knowing she had gotten the best deal she could.
CarsDirect was rated #1 amongst all the online buying agents by Forbes Magazine and several other national magazines a few years ago. They were nice to us, that's for sure. But I wouldn't use them again. After thoroughly boning up, I'm confident enough in my negotiating skills, I don't really need a buying agent anymore. But once was educational and fun. Good luck.
Lots of good advice here, but no one mentioned
A little bit awkward, but it gives a lot of info a lot of other sites don’t like available colors and their goofy names.
Note that sticker prices these days are much closer to dealer costs and modestly priced cars have very little markup.
Also, compare Hyundai to the similar vehicle from Kia, which might be a little better deal.
I use Edmunds and TrueCar.
What another poster said about buying a ‘new’ used car is also good advice. Often you can find a 1 or 2 year old fleet vehicle that will still have the balance of the factory warranty at a steep discount to the new car MSRP. I recently bought a 2012 Volvo sedan coming off a fleet lease that still has 3 years and 30-some odd thousand miles of warranty at a discount of $17,000 off of the new MSRP. Ended up costing several thousand less than brand new family sedans (Accord, Camry, Sonata, Fusion, etc).
We recently rented a Hyundai for 5 days while our CRV was being repaired.
I don’t know what year it was, but we couldn’t wait to get rid of it.
The windshield wipers barely touched the glass and unfortunately we had plenty of snow, slush and spray those days.
We couldn’t get to the seat belt latches to release them and I have very small hands.
When I was seated in the passenger seat and the door was still open, I couldn’t reach it to close it! I’m 5 feet 3 inches tall.
Never will we consider a Hyundai.
1. Get the invoice price from Edmunds.com
2. The Sales Manager should approve an offer (without trades) for $1000 under invoice.
3. Buy at the end of the month. This is when sales contests are ending. Use the argument, “You made your profit, now go for the numbers” to get a deal from the sales manager.
4. The sales person has no authority to make a deal. The Sales Manager approves everything.
5. Buy at the end of the model year for best deals.
6. On some slow moving models, the factory or the district will give the dealer extra incentatives to move the model that is not selling. Sometimes you can get a really good deal.
Good Luck
What about ‘destination charges?’ Is there anyway to avoid or reduce those for domestically made cars?
Ping auto pricing
Ping auto pricing