Over seventy percent of car buyers perform online research before they make an automotive purchase. Many sites provide valuable information relating to the quality and rating of the vehicle. However, this guidebook focuses on the research that is needed for a customer to negotiate a better price and payment from the dealer.
The two values that customers will need to research online before visiting the dealer are the vehicle’s price and trade-in value. This section will familiarize you with the websites that provide these accurate values. Also, we will provide a tutorial on how to access these values. Some websites will claim to provide dealer fleet pricing or special discount pricing. This section will uncover the truth about these websites and allow you to avoid wasting time.
The ability to research new cars online has changed the way customers can price new vehicles greatly. There are several excellent websites that provide this valuable pricing information. A customer’s success will rely on accurate information. This means that you must be careful to price your selected vehicle with all the options and selected colors.
This guide will only be effective if you use accurate data. If you try to negotiate with inaccurate information, you will lose credibility and this guidebook’s calculations will be invalid.
The three pricing values customers must research on their selected vehicle are the Base MSRP, Total MSRP and Total Invoice. It is necessary to know the Base MSRP on some vehicles in order to calculate the dealer’s Hold-Back.
The Total MSRP is the Manufacturer’s Suggested Retail Price and includes all the options and the selected color.
The Total Invoice is the invoice amount, which includes all the options and the selected color.
These values can be found on the following websites: Edmunds.com, Carsdirect.com, and KBB.com (Kelly Bluebook). This guidebook will demonstrate how to find these values on Edmunds.com and use them to calculate the dealer’s net cost in the Calculations section.
Example of the Base MSRP found on Edmunds.com:
Example of the Total MSRP and Total Invoice found on Edmunds.com: