fighting chance
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fighting chance
Has anyone ever used fighting chance (fightingchance.com) to price dealer invoices on new cars? This great website, carbuyingtips.com, seems to promote it heavily as an excellent source of financial information before buying a new car. I read a lot about people getting prices below "invoice;" are people talking about dealer invoice? Evidently it is NOT the same as factory invoice.
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Joined: Dec 2004
Posts: 293
internet buying
here's a quick lesson in how this all works, for all who care.
In the last 5 years, since internet car shopping has become mainstream, and car buyers routinely have access to the "invoice prices" for cars, manufacturers and dealers have just come up with other ways to make money. Holdback and Floorplan amounts have increased, invoices include advertising, handling, and other charges, dealers charge service fees, and manufacturers have kick back programs which pay dealers based on performance and/or customer satisfaction. As a result, it's pretty much commonplace for cars to sell "below invoice".
Right now, GM has a program where everybody can buy a car for "GM employee price" which is 3% below invoice. Do you really think that they would sell every car for a 3% loss?
The best bet, as always, is to educate yourself on what incentives and programs are available for the dealer, and work from there. Negotiate up from true dealer cost, not down from sticker. And try to think of value rather than discount. A car where a dealer is willing to offer an $8000 discount is not necessarily a "great deal". The only reason they're offering such a discount is because the car is overpriced and isn't selling.
In the last 5 years, since internet car shopping has become mainstream, and car buyers routinely have access to the "invoice prices" for cars, manufacturers and dealers have just come up with other ways to make money. Holdback and Floorplan amounts have increased, invoices include advertising, handling, and other charges, dealers charge service fees, and manufacturers have kick back programs which pay dealers based on performance and/or customer satisfaction. As a result, it's pretty much commonplace for cars to sell "below invoice".
Right now, GM has a program where everybody can buy a car for "GM employee price" which is 3% below invoice. Do you really think that they would sell every car for a 3% loss?
The best bet, as always, is to educate yourself on what incentives and programs are available for the dealer, and work from there. Negotiate up from true dealer cost, not down from sticker. And try to think of value rather than discount. A car where a dealer is willing to offer an $8000 discount is not necessarily a "great deal". The only reason they're offering such a discount is because the car is overpriced and isn't selling.
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IS2Scooby
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Mar 8, 2005 09:57 AM