How to Find Invoice Price of a New Car
When buying a new car, knowing the invoice price can be a valuable negotiating tool. The invoice price is the amount that the dealer paid to the manufacturer for the vehicle, and it serves as a benchmark for determining a fair purchase price. However, finding the invoice price can be a bit challenging, as dealerships often guard this information closely. In this article, we will explore various methods to help you discover the invoice price and gain an advantage during the car buying process.
1. Research Online
Many automotive websites provide invoice prices for new cars. Websites like Edmunds, Kelley Blue Book, and TrueCar offer comprehensive pricing information, including the invoice price. Simply enter the make, model, and trim level of the car you are interested in, and these websites will provide you with the invoice price along with other useful data.
2. Contact the Manufacturer
Sometimes, reaching out to the car manufacturer directly can yield valuable information. Manufacturers may be willing to disclose the invoice price or provide guidance on how to obtain it. Look for contact information on the manufacturer’s website and reach out to their customer support or sales department for assistance.
3. Join Online Forums
There are numerous online automotive forums where car enthusiasts and industry insiders share information. Participating in these forums can give you access to valuable insights on pricing, including the invoice price. Engage with the community, ask questions, and seek advice from those who have already purchased similar vehicles.
4. Consult with a Car Broker
Car brokers are professionals who negotiate on your behalf to find the best deal. They often have access to invoice prices and can provide you with this information. While utilizing a car broker may come with a fee, it can save you time and potentially get you a better deal.
5. Utilize Subscription Services
Some companies offer subscription services that provide access to invoice prices and other valuable information. These services charge a fee but can be worthwhile if you plan on buying multiple cars or are particularly interested in obtaining the most accurate pricing data.
6. Network with Dealership Employees
If you have connections within the automotive industry, reaching out to dealership employees can be advantageous. Friends or family members who work at car dealerships may have access to invoice prices and can provide you with the information you need.
7. Compare Multiple Sources
To ensure accuracy, it is wise to cross-reference information from multiple sources. Different websites and resources may provide slightly different invoice prices, so comparing them will give you a better understanding of the vehicle’s true cost.
8. Be Prepared to Negotiate
Knowing the invoice price is just the first step. It is essential to remember that dealerships have additional costs, such as overhead expenses and profit margins. When negotiating, aim for a price slightly above the invoice price to allow the dealership to make a reasonable profit while still getting a good deal.
9. Understand Additional Costs
Apart from the invoice price, be aware of other costs associated with purchasing a new car, such as taxes, registration fees, and destination charges. These expenses can significantly impact the final price you pay.
10. Consider Timing
Car dealerships often have monthly or quarterly sales targets. Visiting the dealership toward the end of the month or quarter may increase your chances of negotiating a better deal, as salespeople may be more willing to reduce prices to meet their targets.
11. Be Willing to Walk Away
If negotiations are not going in your favor, be prepared to walk away. Knowing the invoice price empowers you to make informed decisions and find a better deal elsewhere.
12. Be Polite and Professional
Maintaining a polite and professional demeanor throughout the negotiation process can go a long way. Dealerships are more likely to work with customers they perceive as reasonable and respectful.
Frequently Asked Questions:
Q1: Is the invoice price the final price I should pay for a new car?
A1: No, the invoice price is the amount the dealership paid for the vehicle. Additional costs and profit margins are added to this price, so expect the final purchase price to be slightly higher.
Q2: Can I negotiate the invoice price?
A2: Generally, dealerships are not willing to sell a car at the invoice price since they have additional costs and need to make a profit. However, knowing the invoice price will give you a better starting point for negotiations.
Q3: Are the online invoice prices accurate?
A3: Online invoice prices are usually accurate, but it is recommended to cross-reference multiple sources to ensure accuracy.
Q4: Can I negotiate other costs, such as destination charges and documentation fees?
A4: Yes, you can negotiate these costs along with the purchase price. However, keep in mind that some fees are non-negotiable.
Q5: Are invoice prices available for all car models?
A5: Invoice prices are generally available for most new car models. However, for certain exclusive or limited-edition vehicles, finding the invoice price may be more challenging.
Q6: How often do invoice prices change?
A6: Invoice prices can change periodically, often due to manufacturer incentives, changes in supply and demand, or the introduction of new models.
Q7: Should I reveal that I know the invoice price during negotiations?
A7: It is generally recommended to keep this information to yourself during initial negotiations. Revealing that you know the invoice price may cause the dealership to adjust their tactics.
Q8: Can I negotiate a price below the invoice price?
A8: While it is possible to negotiate below the invoice price, it is unlikely that dealerships will agree to such a deal, as they need to cover their costs and make a profit.
Q9: Is the invoice price the same for all dealerships?
A9: Yes, the invoice price is the same for all dealerships of the same brand. However, dealerships may offer different incentives or discounts, which can affect the final price you pay.
Q10: Can I find the invoice price for used cars?
A10: Invoice prices are typically available for new cars only. Used car prices are influenced by factors such as mileage, condition, and market demand.
Q11: Is the invoice price negotiable after options and accessories are added?
A11: Yes, the invoice price can be negotiated even after adding options and accessories. It is important to remember that these additions may also have associated costs.
Q12: Does the invoice price include dealer incentives and rebates?
A12: No, the invoice price does not include dealer incentives and rebates. These discounts are applied after the invoice price and can further reduce the final purchase price.
In conclusion, finding the invoice price of a new car can be a valuable tool during the negotiation process. Utilize various resources, do thorough research, and be prepared to negotiate to secure the best deal possible. Remember to consider additional costs and fees, and always maintain a polite and professional demeanor. Armed with the invoice price, you can confidently navigate the car buying process and find a fair price for your new vehicle.