by online » Fri Jul 23, 2004 1:08 pm
I just ordered a 2004 Solara Convertible. First dealership would not bargain. I spent the next morning running numbers based on Dealer invoice sheet that the first dealer provided to me. I don't think he realized that the invoice included dealer hold back and finance reserve. Using these numbers I was able to negotiate with the 2nd dealer for 2K below MSRP or 4% above invoice. It takes time but it is time well spent. I live in the NE and you can't find convertibles on the lot. My Absolute Red/Black top w/dark stone interior should be arriving the end of August. According to the dealer, the 2005s will be arriving the end of August and with really no changes to the covertible.
The following is the spreadsheet that I put together to aide in my negotiations.
Buyer's Offer Spreadsheet
Factory Holdback (American Cars=3% Foreign Cars=2%) 2.0%
Factory To Dealer Incentives Here N/A
Government Tax Exemptions, Hybrids Here $0.00
Consumer Rebates Here $0.00
Destination Charge $515.00
Floorplan Fee/Reserve(ultimate Dealer cost), Finance Reserve From Dealer Invoice $883.00
Desired Dealer's Profit (Suggest 3 to 5%) 5.0%
Vehicle Description Model Code Invoice Price (Wholesale Price) MSRP (Retail Price)
2004 Toyota Camry Solara SLE V6 2-Dr Convertible 2788A $26,504.00 $29,450.00
Options:
50 state emissions FE + $0.00 $0.00
Navigation System NV + $1,163.00 $1,350.00
Vehicle Stability Control w/ Traction Control VS + $559.00 $650.00
Black Pearl Emblems BN + $158.00 $223.00
Carpet/Cargo Mat Set CF + $112.00 $184.00
Windscreen WG + $295.00 $395.00
Wheel Locks (Alloy) WL + $37.00 $59.00
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Fuel Admin Charge + $6.00
Destination Charge + $515.00 $515.00
Total Of Options + $2,330.00 $2,861.00
Total Base Vehicle & Option Price $29,349.00 $32,826.00
Factory Holdback (Paid To Dealer By Factory After Car Is Sold) - $576.56 Based-$28,828
Factory To Dealer Incentives (Bonus to dealer from factory) - N/A
Floorplan Fee Also called "Wholesale Financial Reserves", paid by factory to the dealer to offset dealer's floorplan interest costs. - $883.00
Dealer's Total Cost Of Vehicle (Not Including Destination Charge) =Total Invoice - Holdback - Factory To Dealer Incentives - Floorplan Interest = $27,374.44
Fair Profit Over Dealer's Cost + $1,368.72
Negotiated Selling Price Of Vehicle = $28,743.16 5%
Destination Charge (Cost to ship vehicle to the dealer, REQUIRED FEE) + $515.00
Advertising Fees (Usually shown only on dealer invoice, Optional fee) + -
Environmental Protection Packages, Other Fees + $0.00
Dealer Prep (OPTIONAL FEE) + $0.00
Consumer Rebates (Paid By Factory To Consumer) - $0.00
Final Cost To Customer (Not Including Sales Tax or Tags) = $29,258.16