Whether you are purchasing your first vehicle or looking to make a well-deserved upgrade, the thought of a new vehicle can meet you with much elation. When purchasing a new vehicle, there are a plethora of factors to consider: make, model, colour, add-ons, packages, and the one factor many people look at first – price. Most people have a vehicle in mind, but more often than not, the price is the determining factor when deciding whether or not to go ahead with their purchase. Some will try their best to negotiate with the dealership, but doing so can be tricky, time-consuming, and produce lackluster results.
The price the dealer shows you is the MSRP (manufacturers suggested retail price) of the vehicle, which, as the name suggests, is the recommended price a dealer should charge a consumer for the vehicle. There are ways, however, to lower this cost whether you plan to lease, finance or purchase a vehicle outright. The Dealer Invoice Report can help you save a significant amount of money on your new vehicle purchase without having to practice your best negotiating skills for hours on end.
What is a dealer invoice?
A dealer invoice, also referred to as the “dealers cost”, is the price the dealer pays the manufacturer for the vehicle. This price is often lower than the MSRP to allow room for maximum profit for the dealer. For example, the dealer cost of a vehicle could be $30,000; in which the dealer pays said amount to the manufacturer. The dealer will then work with the automakers to determine the MSRP – or “sticker value” – of the vehicle which more often than not, is higher than the dealers cost. The car could then be put on the market for $35,000 for example, which is the price the consumer would pay for the vehicle.
How can a dealer invoice report help me save money on my vehicle?
A dealer invoice report gives you a detailed breakdown of the dealer cost of the vehicle as well as various incentives that can help you save on your new vehicle purchase. For example, if you are looking to finance a new 2019 vehicle, the dealer invoice report will breakdown the monthly payments in accordance with the dealer price of the vehicle. The report also contains discounts, such as dealer cash incentives, that the dealer may not tell you.
How do I fill out a dealer invoice report?
Filling out a dealer invoice report is a simple process that can be done online (no need to head to the dealer to do this!).
- Log in to your account (or create one easily via email or Facebook)
- Pick your desired car make
- Pick your desired model under the make. It’s important to pick the EXACT make you would like. For example, if you are looking for a new Mazda GT, the model comes in both FWD (front-wheel-drive) and AWD (all-wheel-drive); both possessing different price tags. Ensure you pick the exact model you would like.
- Review your report + savings
- Bring the report to the dealer to obtain the savings outlined in your report
What information can I find on my Dealer Invoice Report?
Your dealer invoice report will give you a vast amount of information pertaining to your vehicle of interested. Including, but not limited to:
- Invoice Price (dealer cost) of the vehicle
- Pricing Guidance; how to calculate the best deal for your vehicle of choice based on the invoice price plus any incentives you may be eligible for
- Factory Incentives; discounts made available via the manufacturer (eligibility may vary)
- Lease and finance rates
- Recommended Dealership; recognized dealerships within an appropriate distance that work with CarCostCanada members to help them save the most money possible
- Vehicle Pricing and Options Details; a detailed breakdown of the costs pertaining to the vehicle in relevance to the base and/or any features/add-ons
- Comparable Vehicles; vehicles that boast similar features and pricing in accordance with the subject vehicle
- Standard Features; a detailed breakdown of the subject vehicle
How much money can a Dealer Invoice Report actually save me?
The savings depend on the make, model, and year of the vehicle, as well as any current incentives offered by the manufacturer and the original cost. Typically, members report savings in the thousands. For example, a 2019 Honda CR-V EX-L AWD has an MSRP of $38,285 and a dealer invoice price of $35,659; savings of over $2,500! Some makes and models will have fewer savings, whilst others may boast even more.
Another key component when it comes to saving money with your dealer invoice report is the incentives. The report outlines any incentives that are made available through the manufacturer. These could amount to significant savings on top of the savings from the dealer cost. It’s important to note that a majority of incentives require eligibility which should be discussed with the dealer at the time of the purchase.
What is the cost of a Dealer Invoice Report?
The first Dealer Invoice Report is free for Car Cost Canada members!
Will the dealer accept my Dealer Invoice Report?
We work with a surfeit of dealers who are more than happy to help you save money on your purchase so you can walk away happy. Within the report, we provide a recommended dealership that works in harmony with CCC to provide you with exceptional service and pricing. Should you choose another dealer, no issues should arise. Most dealers are happy to work with you and your report as the sale of a vehicle is beneficial for them as well. Some dealers, however, may push back and try to negotiate on the MSRP with you, despite your possession of the dealer cost. If a dealer is unwilling to accept your report, which is a rare feat, don’t despair; there are many dealers willing to help you save your hard-earned money.
What are my vehicle exceptions when it comes to my Dealer Invoice Report?
We work with several automakers, so your choices are plenty! The automakers we partner up with provide deals on the newest models available on the market; last, current, and upcoming year. Our report can help you save money on the most recent models your make of choice has to offer. Here is a list of automakers we work with!
Buying a new vehicle is a rewarding milestone; whether you have finally saved up for your first vehicle or you are ready to take the leap and put yourself in something more luxurious. Purchasing a vehicle is a huge step and the ability to save money on your new vehicle makes the process that much more rewarding.
Ready to get behind the wheel of a new ride? Contact us today and save your hard earned money on the car of your dreams!