[My87z28]

I figured since my last post about "the dealer accepted my offer" got a fair bit of traffic after I posted some of the specific numbers when it comes to these camaros, that I'd make a new post on tips and tricks to getting the best deal you can for your new Camaro.


First tip: do not step foot into the dealership first.

Do a search of Chevrolet dealerships within 50-100miles of where you live. Email 10-15 about the exact Camaro you are looking for, and ask them for their best "out the door price".

Find out what the exact dealer invoice price of the car you are looking for is. KBB, NADA, TrueCar should be able to give you this information. I've checked and what they have listed as the dealer invoice price is actually correct as per the GM WorkOrderBench.

Next find out exactly what your state's fees are for tags; these cars are roughly 3600lbs, your state may have different tag fees based on weight. Maryland does, and car above 3700lbs is $187.00, any car under 3700lbs is $135.00. Also find out how much registration, title, and lien papers cost. Believe it or not, dealers will lie to you about this and overcharge you and pocket the rest.

If you let the dealerships know that you have contacted multiple dealerships, at least one of them is bound to offer you the car at dealer invoice. Make sure the dealers list each of these prices separately; car price, dealer processing, taxes (taxes are the sum of the cost of the car + dealer processing x state tax), and tags & title, then the out the door cost. This is to make sure everything is as transparent as possible. Also make sure you ask the dealer about IMR & LMA (advertising) fees. They like to not mention this until you are already in the finance office, by that time you've had so many numbers through at you that you never really second guess it (this is a huge dealer tactic).

Dealer Invoice on the '16 Camaro will be almost exactly 96% of the MSRP price.

Never mention a trade in vehicle, if asked about it say "I'm undecided at this time".

if no dealer has offered you the dealer invoice price then let them know that you know how much it is and that is why you want to pay (don't actually list the dealer invoice price). Inevitably multiple dealers will give you some BS number which they will say is the dealer invoice, you will now know that these salesmen are not very trustworthy. Hopefully some actually give you the true price, if they don't, then you can list the dealer invoice price. You will now loose email contact with a few of the dealerships, as they don't like informed buyers. If any give you the song and dance about "we have to make some money, we're a business after all", then you mention the HOLDBACK. The holdback is money that is "held back by the manufacturer, just to later pay it to the dealership. Chevrolet has a 3% holdback on every single car. The 3% is of the MSRP price. So if the car has a MSRP of $38,500, the holdback is $1155.00 ($38,500 x 0.03). Monthly or quarterly Chevrolet will cut the dealer a check for the holdback on every single Chevrolet vehicle they sold during that time period. You can also mention the dealer processing fee, which in Maryland is capped at $300.00. This is pure profit for the dealership. So even if you were to pay the dealer invoice price on this $38,500.00 MSRP car, the dealership will still profit the holdback: $1155.00 + dealer processing: $300.00 for a total of $1455.00. Also be sure that none of their prices includes ANY incentives or rebates as they may not be available when you actually purchase the car or that you may not actually be eligible for them when you purchase the car. This is another one of their tactics. This is why Autotrader has so many cars listed for such awesome prices, the dealer has added in ever rebate and incentive under the sun, even though you may not be eligible for all or any.


Based on your email communications you should be able to narrow the list of dealerships down to 2-3 dealerships. Now you should have 2-3 dealers offering you dealer invoice. Again make sure they list all the fees, and that they are all accurate with the information that you have already researched.

Now you may visit this 2-3 dealers, test drive a car, don't act too excited! Again be vague about any trade in if that's what you plan to do. DO NOT LET THEM RUN YOUR CREDIT. Get an in person feel for the salesmen and dealers that you have been speaking to through email. Don't let them know that you are not going to buy a car today, but say that you are going to either. Ask them to print off the GM WorkOrderBench for the car, if they won't, they likely shows their lack of transparency and lack of honesty. After getting all of the in person info you need, LEAVE!!! DO NOT BUY NOR ORDER A CAR!!!

**Also, never let any of the dealerships know the names of the other dealerships you are in contact with, it is possible that they will contact each other and team up against you. Always remember, these people are salesman and are not your friend. They do this for a living and are better at selling a car than you are at buying a car. That's why you do much of you communication through email. ***

You also need to research these dealers and their service departments.

Now that you have 2-3 dealers all offering you the exact same price for the exact same car. Email them that you've narrowed it down to a couple dealerships, with theirs being one of them. However, all of the dealerships are offering you the same price. Now find one other small ($100-300) option that you'd like to have on the car; such as floor mats, cargo mat, tint, etc. Let them know that you are willing to buy this week from the first dealer who offers you the already agreed upon price with the included option that you just picked out. When you get one to agree to this, you know have an electronic record of every part of the negotiations. Now go in and sign or order, which ever you are planning to do. By do exactly this, you have now cut into that holdback and dealer processing fee. Also, while finalizing ask about any rebates or incentive that are available, have them print them out for you.

By following these tips, you will get a better price than 99% of everyone else.


Good luck, I hope this helps you buy your new '16 Camaro.

[My87z28]

I apologize for the spelling/grammatical errors. This was typed on my phone.

[Jdelgado92]

This would have been lovely about 2 months ago

[Memphis43]

I don't think they would take the time to team up against you for what it's worth.

Also, holdback is 3% of MSRP minus destination.

On Chevrolet the LMA and IMR is 2% (here in Tennessee) minus destination.

And I don't agree with the habit of putting all of the rebates in the sales price as well on these websites.

It's even worse on a lease lol.





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[70454]

This is exactly what I basically did. In all I invested about an hour of time negotiating through email and researching the exact Camaro I wanted. I didn't trade anything in so that probably made it easier. Only problem with mine is my car is stuck in quality control hold not the dealers fault though. If the dealer insists on the advertising fees bs tell them you will pay a percentage like 10-20% of the fees but no advertising was even involved with this car. No ads have even been produced for this Camaro. Walk away if they don't agree. 9 out of 10 times they will call you back and agree within a couple of days.

[My87z28]

Originally Posted by Memphis43

I don't think they would take the time to team up against you for what it's worth.

Also, holdback is 3% of MSRP minus destination.

On Chevrolet the LMA and IMR is 2% (here in Tennessee) minus destination.

And I don't agree with the habit of putting all of the rebates in the sales price as well on these websites.

It's even worse on a lease lol.





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I doubt they would either, I just wouldn't want to give them the opportunity.

[My87z28]

Originally Posted by 70454

This is exactly what I basically did. In all I invested about an hour of time negotiating through email and researching the exact Camaro I wanted. I didn't trade anything in so that probably made it easier. Only problem with mine is my car is stuck in quality control hold not the dealers fault though. If the dealer insists on the advertising fees bs tell them you will pay a percentage like 10-20% of the fees but no advertising was even involved with this car. No ads have even been produced for this Camaro. Walk away if they don't agree. 9 out of 10 times they will call you back and agree within a couple of days.

I didn't pay advertising either. Good job, I just find it a shame how many people walk into a dealership, fall in love, and let the salesman take them for a ride. Sorry but anyone who pays within a couple percent of MSRP got taken for a ride.

[70454]

It reminds me of when I bought my first house in 2007. Why would you ever pay what the asking price is? Many people just don't care I guess like my buddy who just purchased an Audi RS8 and didn't care about the price. Many people I think don't like the hassle part of negotiating which I understand.

[Memphis43]

I want to see you guys haggle over furniture

You are fighting over 2 grand on a 40k car.

Imagine getting taken each time you look at your love seat because you did


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[70454]

[QUOTE=Memphis43;8926548]I want to see you guys haggle over furniture

You are fighting over 2 grand on a 40k car.

Imagine getting taken each time you look at your love seat because you did


I actually did haggle a little over my sectional and my last mattress purchase. It is fun to mess with people.

So your point is we shouldn't haggle over 2k on a 40k car. Every dollar I can keep out of a salesman or Chevy's hand I will try my hardest to accomplish. My 457 plan needs the money more than you or Chevy does sorry. My philosophy is if the item or product is sold by a salesman where commission is involved I'm haggling a little for a better price because I know I can get a better price if I do.

BTW I had experience in selling cars but it was with Dodge and Ford back in the early 2000s.

[Memphis43]

[QUOTE=70454;8926561]

Originally Posted by Memphis43

I want to see you guys haggle over furniture

You are fighting over 2 grand on a 40k car.

Imagine getting taken each time you look at your love seat because you did


I actually did haggle a little over my sectional and my last mattress purchase. It is fun to mess with people.

So your point is we shouldn't haggle over 2k on a 40k car. Every dollar I can keep out of a salesman or Chevy's hand I will try my hardest to accomplish. My 457 plan needs the money more than you or Chevy does sorry. My philosophy is if the item or product is sold by a salesman where commission is involved I'm haggling a little for a better price because I know I can get a better price if I do.

BTW I had experience in selling cars but it was with Dodge and Ford back in the early 2000s.

No I'm not saying you shouldn't. If the car cost $5 I'd sell it to you. New doesn't pay my bills. It just pays for the enthusiast in me.

My point is this, on 40k you are fighting 4%.

On furniture you are looking anywhere from 80% to 150% markup.

I've seen instances as much as 200%.

That $3000 bedroom suite someone on here bought, cost anywhere from $800-$1200 to make.

I guess what I'm saying is in the long run if you are comfortable with a quote from someone and it fits your budget then why not?

I feel people get caught up in what's considered a good deal here instead of realizing how small that amount is.

This isn't a Tahoe or Yukon. Not even a truck for that matter.

I have no problem with people shopping for the best price actually. As I've stated before it keeps things very competitive. Drives the market.

You actually have very good advice here and I'm glad someone other than me finally said something about what these cars have in them.

Because that in the long run helps me.




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[Whis]

Why is it like this? That's my only question as a first time new car buyer. I've owned one cheap car my entire life and this sounds all so insane

[Memphis43]

Originally Posted by Whis

Why is it like this? That's my only question as a first time new car buyer. I've owned one cheap car my entire life and this sounds all so insane

Why people clamor for the best "deal"?


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[enzia35]

I can't imagine why...