Wow, I got a deal!
10-29-2015, 07:11 PM
#61
Safety Car
Unfortunately your math is just wrong.
They paid dealer invoice, in this case 75,641.00. Supplier pricing is not the pricing the supplier (dealer) pays, it's a special deal GM has with its suppliers (to GM) for pricing (like Employee Pricing).
You paid invoice. The dealer walked away with $2200 on the deal plus whatever extras you bought (if any).
They paid dealer invoice, in this case 75,641.00. Supplier pricing is not the pricing the supplier (dealer) pays, it's a special deal GM has with its suppliers (to GM) for pricing (like Employee Pricing).
You paid invoice. The dealer walked away with $2200 on the deal plus whatever extras you bought (if any).
10-29-2015, 07:17 PM
#62
What will be the trade in value, that is when the dealer makes his money on the car. Just hope it is one of the perfect cars that so many buyers have.
10-29-2015, 09:56 PM
#63
Race Director
Sounds like a great deal but you just mentioned the MSRP, suppliers and invoice price. If you got it for around suppliers price then it is a good deal, invoice or below and it is great. In the end it doesn't matter.
And yes Z51 Coupe prices can hit $85k MSRP pretty easily. $500 here, $1-3k here and there, it all adds up in the end.
And yes Z51 Coupe prices can hit $85k MSRP pretty easily. $500 here, $1-3k here and there, it all adds up in the end.
10-29-2015, 09:58 PM
#64
Racer
Thread Starter
OP, I'm not sure of the reason for you starting this thread? If you get a "great deal" when you actually finalize the deal, then good for you. You should be proud of yourself. When you have the final details of the "deal" and if you'd like to share them with us then please do so. More importantly, we'd love to see some pictures of what you've actually purchased and learn more about how you plan to enjoy your great car.
All this BS about what dealers make or lose on transactions is just nonsense. They're not in business to lose money and all of the dealers I know are doing quite well.
All this BS about what dealers make or lose on transactions is just nonsense. They're not in business to lose money and all of the dealers I know are doing quite well.
I think a lot of people in this thread are under the misconception that my dealer told me they're losing money and I believed them. They didn't say anything I'm simply going off the numbers on the loan document provided to the bank to show them the prices/options on the car. I also fully understand that while they may or may not have taken a lose on my sale in the long run they did it to make money as selling this car got them more allotments and more sales in the future. Sometimes in business you need to lose a little money to make a lot of money. Guess not everyone understands that.
Since you asked nicely I just got back from inspecting that car at the dealer so here's some pictures
Now begins the long wait until I can pick the car up which most likely won't be until Wednesday since evidently only one person at the dealer can do the delivery and he's off monday/tuesday...
10-29-2015, 10:03 PM
#65
Racer
Thread Starter
Sounds like a great deal but you just mentioned the MSRP, suppliers and invoice price. If you got it for around suppliers price then it is a good deal, invoice or below and it is great. In the end it doesn't matter.
And yes Z51 Coupe prices can hit $85k MSRP pretty easily. $500 here, $1-3k here and there, it all adds up in the end.
And yes Z51 Coupe prices can hit $85k MSRP pretty easily. $500 here, $1-3k here and there, it all adds up in the end.
10-29-2015, 10:11 PM
#66
Corvette Enthusiast
Member Since: Oct 2005
Location: Troy & Dearborn, Michigan
Posts: 5,343
Received 921 Likes
on
614 Posts
First off some things to note: (probably already covered).
On true supplier and GM Employee sales the dealer gets a "kick back" (I think they call it a hold back) from GM, which is pure profit.
That being said dealers don't pay invoice for cars. That's true they were invoiced that amount but GM has lots of financial deals (but these other cars, dealer cash, holdbacks, etc) that let the dealers make money.
What REALLY matters is the amount your Sales Tax is calculated off. That's what you "paid" for the car (rebates, employee and supplier discounts, dealer cash, etc are just "money down" at signing, only the money comes out of someone else's pocket not yours, but technically you still "paid" it).
On true supplier and GM Employee sales the dealer gets a "kick back" (I think they call it a hold back) from GM, which is pure profit.
That being said dealers don't pay invoice for cars. That's true they were invoiced that amount but GM has lots of financial deals (but these other cars, dealer cash, holdbacks, etc) that let the dealers make money.
What REALLY matters is the amount your Sales Tax is calculated off. That's what you "paid" for the car (rebates, employee and supplier discounts, dealer cash, etc are just "money down" at signing, only the money comes out of someone else's pocket not yours, but technically you still "paid" it).
10-29-2015, 11:56 PM
#68
I will add that at the end of a month/quarter/year, you can get the dealer to give you a deal where they lose money on that car. Why? Because they get bonus payments for moving a certain number of cars and if you happen to be car #120 and they need to sell 122 you can get a deal. The dealership made money because of the large bonus check, but on that particular car they lost money.
I have a friend who always purchases a new car by going into a dealership and telling the sales manager that he's willing to buy a particular car (at a price that loses money for the dealer) and to call him if he needs to sell it. It has worked when the dealer gets to the end of a month or quarter and needs the sale. I'm not sure it would work for a Corvette unless it was one they simply couldn't sell easily for some reason (maybe a customer ordered car with a strange option selection that the purchaser cancelled.)
I have a friend who always purchases a new car by going into a dealership and telling the sales manager that he's willing to buy a particular car (at a price that loses money for the dealer) and to call him if he needs to sell it. It has worked when the dealer gets to the end of a month or quarter and needs the sale. I'm not sure it would work for a Corvette unless it was one they simply couldn't sell easily for some reason (maybe a customer ordered car with a strange option selection that the purchaser cancelled.)
10-30-2015, 12:16 AM
#69
Racer
Nice looking car! Enjoy the ride when you get it and I'm sure most of these comments will be just a blur after you get going down the road.
10-30-2015, 12:33 AM
#71
Racer
Thread Starter
I actually enjoyed the guys trying to say I got ripped off because I could afford to buy the car with options. It made me laugh. I see an unoptioned 1lt and I think it's cheep Crap, a poor mans vette, but hey to each their own. Both are just as fun to drive at the end of the day and I'm sure we're both driving around with the same ridiculous grins on our faces.
Last edited by efarley; 10-30-2015 at 12:39 AM.
10-30-2015, 12:59 AM
#72
Racer
Still need 100 miles for mine (2016 2LT LBR A8) to be officially broke in but the smile started at mile 3 right off the dealers parking lot.
I bet if you said you was picking one up for free, there would be at least one or more comment questioning the whole deal but hey, it makes for some interesting reading sometimes!!!
I bet if you said you was picking one up for free, there would be at least one or more comment questioning the whole deal but hey, it makes for some interesting reading sometimes!!!
10-30-2015, 08:11 AM
#73
Burning Brakes
Sounds like a great deal but you just mentioned the MSRP, suppliers and invoice price. If you got it for around suppliers price then it is a good deal, invoice or below and it is great. In the end it doesn't matter.
And yes Z51 Coupe prices can hit $85k MSRP pretty easily. $500 here, $1-3k here and there, it all adds up in the end.
And yes Z51 Coupe prices can hit $85k MSRP pretty easily. $500 here, $1-3k here and there, it all adds up in the end.
Boy, do you have the right!!! Go for a Vert Z51, 3LT and one of those packages, for example Spice Red, and you're at 80k before you start adding any of the other goodies.
10-30-2015, 09:46 AM
#74
Melting Slicks
Thanks! They were always just a blur lol haters gonna hate, trolls gonna troll. If I couldn't handle it I wouldn't be on the internet
I actually enjoyed the guys trying to say I got ripped off because I could afford to buy the car with options. It made me laugh. I see an unoptioned 1lt and I think it's cheep Crap, a poor mans vette, but hey to each their own. Both are just as fun to drive at the end of the day and I'm sure we're both driving around with the same ridiculous grins on our faces.
I actually enjoyed the guys trying to say I got ripped off because I could afford to buy the car with options. It made me laugh. I see an unoptioned 1lt and I think it's cheep Crap, a poor mans vette, but hey to each their own. Both are just as fun to drive at the end of the day and I'm sure we're both driving around with the same ridiculous grins on our faces.
10-30-2015, 10:39 AM
#76
Burning Brakes
10-30-2015, 11:04 AM
#77
Many of the responses on this thread leave me scratching my head. The OP simply stated that he got a great deal. I think he did. He obviously wanted a over the top, fully optioned Z51. That's what he got. He never stated that he got a better deal than any of us, only that he got a great deal on the car that he wanted. Good for him. Arguing over the best way to buy (new/used), options, trim levels is pointless. Value is subjective.
The following users liked this post:
TennisFreak (10-30-2015)
10-30-2015, 12:13 PM
#79
Team Owner
First off some things to note: (probably already covered).
On true supplier and GM Employee sales the dealer gets a "kick back" (I think they call it a hold back) from GM, which is pure profit.
That being said dealers don't pay invoice for cars. That's true they were invoiced that amount but GM has lots of financial deals (but these other cars, dealer cash, holdbacks, etc) that let the dealers make money.
What REALLY matters is the amount your Sales Tax is calculated off. That's what you "paid" for the car (rebates, employee and supplier discounts, dealer cash, etc are just "money down" at signing, only the money comes out of someone else's pocket not yours, but technically you still "paid" it).
On true supplier and GM Employee sales the dealer gets a "kick back" (I think they call it a hold back) from GM, which is pure profit.
That being said dealers don't pay invoice for cars. That's true they were invoiced that amount but GM has lots of financial deals (but these other cars, dealer cash, holdbacks, etc) that let the dealers make money.
What REALLY matters is the amount your Sales Tax is calculated off. That's what you "paid" for the car (rebates, employee and supplier discounts, dealer cash, etc are just "money down" at signing, only the money comes out of someone else's pocket not yours, but technically you still "paid" it).
The dealer gets a 3% holdback on every new vehicle they sell, no matter if the sale price is for over MSRP, exactly MSRP, under MSRP, supplier, or employee pricing. That 3% is not included in the "invoice" price of the vehicle, as holdbacks on all the vehicles sold by the dealer are added together and paid to the dealer at a later time( kind of like a Christmas bonus).
The holdback is not related in any way, to the selling price of the vehicle. Every new vehicle sold gets the dealer a check for 3% of the MSRP, no matter what the dealer actually sold the car for.
A new Corvette with an $80,000 MSRP gets the dealer a holdback check for $2,400, even if it was actually sold for, say, $70,000.
What's with all the mumbo jumbo about the what I paid of the car being what I paid sales tax, on. What if I traded in my 2009 Z06 and my 1964 Corvette and they allowed me $100,000 trade in on a new C7 Z06 that had a MSRP of $100,000? Even swap, thus no sales tax was paid in Missouri(where I live). Does that mean I got the car for free? I don't think so, since I had to give the dealer my C6 Z06 and my '64 Vette.
Or, how about if I lived in DE, MT, OR or NH, where they don't have a sales tax. If I gave the dealer $100,000 for the Z06 and I paid no sales tax, does that mean I got the Z06 for free? I don't think so, as my checking account would be short $100,000.
When I bought my C6 Z06, it had a MSRP of $80,015 and I got it with (a legal true employee price of $69, 0038.33) with an additional $75 DOC fee. That was the selling price of the car. I then asked the salesman what they would give me for my 1998 C5(selling price of the 2009 Z06 was not based on any trade in.)
The dealer's used car lot said they would give me $17,575 for my C5(the extra $75 was to offset the required $75 they had to add on to the employee price of the Z06). That price was deducted from the $69,038.33 and I paid sales tax on$51,538.33.
I could have purchased the Z06 for the $69,038.33 and paid it with a check for $68,058.33. Then six months later I could have sold my C5 for $17,538.33 to my neighbor(and received a rebate check back from the DMV for the amount of sales tax on the $17,538.33. Seven moths later and I wouldn't have received a rebate check from the DMV.
Either way, the price I paid for my Z06, was $69,038.33, not $51,038.33.
PS- the dealer got a holdback check for $2,400.45(3% of the $80,015 MSRP of the car).
I do agree with you that the price the dealer paid for the car was not the so called "invoice" price, as there are all kinds of incentives, advertising costs, etc that is not posted to the general public.
Last edited by JoesC5; 10-30-2015 at 12:55 PM.
10-30-2015, 12:46 PM
#80
Safety Car
Member Since: Oct 2012
Location: Austin Texas
Posts: 4,794
Received 676 Likes
on
480 Posts
St. Jude Donor '15
Raining today and really slow at work...read every post. Better than watching SNL. The OP got a nice car at a good price. Posted the information wrong and got slammed, gotta love the internet and car forums.
Now that he has been corrected about 80 times I am sure that he gives a crap about what gets posted. There is to much envy showing up here.
OP, glad you got a good deal and I know that you are going to love the car. Only wish that I could have gotten my '15 at dealer invoice. I did, however, get it at supplier pricing which was sweet, so miles of smiles and save the wave.
Now that he has been corrected about 80 times I am sure that he gives a crap about what gets posted. There is to much envy showing up here.
OP, glad you got a good deal and I know that you are going to love the car. Only wish that I could have gotten my '15 at dealer invoice. I did, however, get it at supplier pricing which was sweet, so miles of smiles and save the wave.