We get it. As a millennial, you have a lot on your plate, everything from paying off that student loan to making your monthly rent – life isn’t easy.
Luckily, your new car buying experience doesn’t have to be rife with annoying challenges – challenges you clearly don’t need right now.
Studies show that most millennials optimize the online car buying process more than other buyers. This often reaps big price benefits and is a HUGE time-saver. Where to start? One of the best ways to kick off your online research is with a handy-dandy dealer invoice price report.
This report makes the negotiations process 10x easier. For one, you can choose any make and model and almost instantly access information like factory incentives, how much the dealer paid to own the car, leasing and financing rates, vehicle pricing, great insurance quotes and more.
Let’s say you want to know the cost of a Mazda CX-3 in Canada, all you have to do is complete a short online process on our website that starts with choosing the right model, and within minutes, you’ll have the report sent to your email! A smart shopper is a happy shopper. With this report in hand, it’s easier to negotiate with dealers and properly budget for your new car.
Look, we know you’re new to this. Today, we’re going to walk you through a car dealer invoice report, help you understand what each section means, and how you can use this information to your advantage at the dealership!
This section offers a very useful formula to help you calculate the best deal.
Your Best Deal = Invoice Price – Your Eligible Incentives + Member Markup
You will find that this section also details the different markup categories and helps you understand which you fall into. For instance, the markup margin could drastically change depending on whether there are any sales, inventory clear outs or if you’re opting for a high volume model. The markup margin is typically between 5% to 8% for most premium, luxury and high-demand-low-supply models.
Those juicy incentives that your dealer may not always tell you about! These factory-to-dealer incentives reduce the cost the dealer pays to the manufacturer to own the vehicle. They are available on a regional basis and for certain models.
Such types of incentives work on a don’t-ask-don’t-tell basis; meaning, dealers are not obligated to reveal these rebates to customers. It’s up to you to negotiate in order to benefit from them. Depending on the incentive and the dealership in question, these may run as high as $2,000.
These may include; First Time Owner’s Program, Grad Awards, Clearout Events, Mobility Programs and the likes.
Lease and Finance Rates
The report also details factory lease and Scotiabank finance rates for the chosen make and model. This is one of the most beneficial sections as it gives you an insight into long-term car payments and helps you accordingly budget for your vehicle. Car Cost Canada is always updating its system with the latest rates so that you receive real-time information that you can use to your advantage.
This section covers;
Consists of a pre-tax cash rebate or a winter tire rebate.
A 1% rate reduction for current Mazda owners and family members residing at the same address that finance or lease a new Mazda.
Car Cost Canada collaborates with a huge network of trusted and experienced dealerships. Our mission is to ensure you enjoy the best buying experience and maximize your savings.
Your report will provide the contact information of a certified recommended dealership along with the salesperson you can reach out to. It’s important to take the report with you to the dealership so that the dealer can work with you to keep negotiations to a minimum and help you get the best deal. Make sure to mention that you are a Car Cost Canada member!
An avid car shopper like yourself isn’t satisfied without the full picture. This report also compares the vehicle’s dealer cost versus its retail price. It touches on the base price, freight, optional equipment chosen, colour, and federal AC excise tax.
In case you aren’t quite sure about your car choice, don’t fret! We also provide a list of cars in that same price range and with those same features that other shoppers with your buying habits have shown an interest in.
What do we recommend? Get a report for each of these vehicles and comparison then becomes a breeze!
To top it all off, Car Cost Canada also helps fetch you the best insurance rates. We’ve partnered with Sonnet, a trusted and reliable website that offers home and auto insurance quotes online. After going through a few simple questions, you can get a great quote within minutes.
It’s fast. It’s easy. It’s time.
Don’t fall prey to that annoying car negotiation process where you leave with an inflated quote.