Last post on Dec 10, 2007 at 1:52 PM
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#413 of 462 Determining holdback
Nov 26, 2007 (6:55 am)
Will specific dealer holdback information be on the vehicle invoice? Sorry if that's obvious.
Also, as I understand it I should be able to request to see the invoice on any vehicle i'm purchasing and the salesperson should show it to me, or I should find another salesperson. Sounds right?
#414 of 462 Re: Determining holdback [dash5]
Nov 26, 2007 (7:23 am)
"...Will specific dealer holdback information be on the vehicle invoice?..."
Edmunds has that info online. I don't know if it is on the invoice of most cars.
I would think the salesman is under no obligation to show you the invoice unless he/she is basing your price on it (such as: Invoice plus $100). Invoice info is also available online.
I once saw a car where the dealer had listed the holdback as a charge to the customer thus trying to collect it twice.
#415 of 462 Re: Determining holdback [oldfarmer50]
Nov 26, 2007 (7:44 am)
Ah I see, it's a static value:
Honda 3% of the Base MSRP
I thought it varied from dealer to dealer or changed over time. Thanks
I know invoice is online but they seem to vary a bit depending on which site you use, not to mention I cant find the exact codes the dealer gives me sometimes. For instance a Rav4 was quoted to us with 5 or 6 option codes, I found 4 easily but not the others. I suppose bottom line is it would be easier to just see the invoice
Well what I'll do is run up an invoice online and just tell them "this is what I'm coming up with and that's what I'm going by unless I see otherwise from you"
#416 of 462 Re: inventory tax [oldfarmer50]
Nov 26, 2007 (8:24 am)
"...Fortunately, it is a small charge..."
"What next, a toilet paper tax for the customer rest room?"
I thought that was covered under the 'shop supplies' charge. Well, on second thought that should be included in the DOC fee for the sales side, shop supplies would cover it for the repair shop side.
#417 of 462 Re: Determining holdback [dash5]
Nov 27, 2007 (9:50 am)
Honda changed thier holdback to 2% last year.
Holdback HELPS pay for flooring charges and it doesn't fall to the bottom line as profit for the store.
#418 of 462 Re: Determining holdback [isellhondas]
Nov 27, 2007 (10:09 am)
"...Honda changed their holdback to 2% last year..."
I know you have mentioned that before. Edmunds data is from 2005. Shouldn't they update it? I know some of their rebate data is off too. Mr. Edmund must be asleep at the switch.
"...Holdback HELPS pay flooring charges..."
Except when you collect it from the mfg. and then try to collect it again from the customer like the Saturn dealer I mentioned. Hmmm....Saturn's holdback is 3% of total MSRP so that would have been 6% on a $25000 car. And that's if they sold it at "invoice".
#419 of 462 Re: Determining holdback [isellhondas]
Nov 27, 2007 (11:21 am)
Thanks, 2%, good to know that. By flooring charge I assume you mean the cost to keep the car as inventory on site? And by "helps" do you mean partially covers it or fully covers it and the rest is profit?
I'm looking to be fair but get a good deal.
#420 of 462 Re: Determining holdback [oldfarmer50]
Nov 27, 2007 (11:34 am)
Collect holdback from the customer?
Now, that's a new one!
#421 of 462 Re: Determining holdback [dash5]
Nov 27, 2007 (11:36 am)
You won't make any friends by bringing up holdback at a car dealer.
When I say it "helps" that's what I meant. That would vary.
Besides flooring, the overhead to run a store is a lot higher that most people would imagine.
#422 of 462 Re: Determining holdback [isellhondas]
Nov 27, 2007 (12:05 pm)
Not looking to make friends. Just buying a car and like to know the whole picture. I certainly doubt the best salesman would look to make me a friend by telling me the whole story.
I'm a big fan of capitalism, I have no problem with a guy making a buck so long as the service is good. Wouldnt nickel and dime down to the last 50 dollars on a car. That said, if a dealer is selling at invoice and still getting another 500+ from holdback, on top of the money he's getting from me via financing, my trade in and any work I'll have done in his service bay, I wanna know.