Purchasing a vehicle is a process a majority of Canadians go through at a point. In a country of approximately 37 million, around 25 million individuals carry a driver’s license. A commonality amongst ready-to-purchase individuals is a precaution to price. Add-ons and longevity aside, a majority fixate on initial cost. The initial cost of a vehicle typically makes or breaks a consumer’s decision to purchase. Consumers are often looking for the best possible price prior to purchasing a vehicle which is exactly what a dealer invoice report does.
Car Cost Canada offers free dealer invoice price reports to Canadians since 1999. With exclusive options to see add-ons, rebates and unique manufacturer to dealer incentives, Car Cost Canada provides bigger advantages to users with invoice reports. Dealer invoice reports allow car buyers to learn the true wholesale cost price that a dealership would be working with, not just the MSRP (Manufacturer Suggested Retail Price).
The average cost of a vehicle in Canada continues to rise, reaching approximately $33,464, up 3.2 percent from the previous year. A large number of consumers are purchasing a vehicle at the MSRP (Manufacturer’s Suggested Retail Price) without knowing that any other options exist. The difference between invoice cost and MSRP can vary significantly. The savings for a basic, economical vehicle may hover around $500-$600, whereas a high-end SUV could see a $10,000 (or 20%) potential profit margin at the MSRP. The margins between MSRP and dealer invoice can save you a substantial amount of money in regards to the initial cost of the vehicle.
Dealer Invoice reports have proven success in the luxury vehicle market as well, gasconading significant savings. Those in the market for a luxury vehicle such as a BMW, Audi, or Mercedes-Benz, can see savings of 20% off the MSRP. With the price of an average luxury vehicle ranging from $56,505; base model sedan to $83,183; mid-size SUV/crossover, the savings can cut a substantial amount off the MSRP. With the price of luxury vehicles axiomatically higher than the price of a basic, economical vehicle, leasing is inevitable for many.
With that being said, those looking to lease can cut back on the length of their terms, meaningless commitment for their vehicle of choice. Keeping the average cost of a vehicle in mind, 71.5% of Canadians opt for a term of 48 months or greater, compared with 71.3% last year. A lower initial cost can cut back both length of the lease as well as the monthly cost of the lease, taking the pressure off of significant long-term financing.
Car Cost Canada offers comprehensive dealer invoice reports aimed at saving consumers money on their vehicle purchases. A vast amount of Canadians purchase a vehicle at full MSRP, missing opportunities to save money. Dealer invoice reports also provide an in-depth breakdown of rebates and incentives that you may qualify for. Items such as rebates for certain vehicle makes because they are eco-friendly is something that you have to initiate and does not automatically apply to you as you are purchasing the car.
When reviewing your dealer invoice report, it is important to understand the invoice price is only “roughly” what the dealer paid for the vehicle. This is due to the dealer holdback amount that most manufacturers assign to the vehicle. The dealer holdback is a portion of the cost that is collected by the manufacturers but refunded by car makers once the car is sold, as a sales incentive. This information will not be shared during negotiation because this is an incentive for the dealer, additional pocket money for them. While this is beneficial, this is not a huge increase in revenue for them. It is normally 4%-7% of the MSRP. The price point will be this dealer invoice report with the additional sales commission that must be made, any overhead costs, and an extra profit from the sale. Taking that into consideration helps buyers understand the value and what point they can negotiate to.
The dealer invoice report boasts a plethora of options and savings pertaining to the purchase of a new vehicle, whether out right or via a financial term. Over 200,000 Canadians have utilized Car Cost Canada’s dealer invoice reports. With savings anywhere from a few hundred to thousands, the accumulated savings relevant to dealer invoice pricing is staggering. Whether you are looking to purchase your first, new vehicle or looking to upgrade your current one, a dealer invoice report from Car Cost Canada makes the purchasing process simple and will ultimately help you save your hard-earned money.
About Car Cost Canada
Car Cost Canada was the first company to offer dealer invoice prices in Canada and we’ve been Canada’s #1 choice since 1999. Car Cost Canada is a division of Armada Data Corporation, a trusted data company that is publicly traded on the TSX.
Over 500,000 Canadians have utilized Car Cost Canada’s services to save money on their most recent new vehicle acquisition. Our website outlines how consumers can save money by knowing the dealer cost of all new vehicles sold in Canada, current unadvertised incentives, and how the Car Cost Canada national dealer network can positively impact your next vehicle purchase.