2023 Chevrolet Prices: MSRP, Invoice Price, Dealer Cost, and Holdback
How Chevy Invoice Price Works
When buying a new Chevrolet, there are a few imperative figures to know before visiting the dealer, MSRP, Chevrolet invoice price, and dealer cost.
In layperson terms, the MSRP (Manufacturer Suggested Retail Price) is what the OEM recommends that dealers charge. The total cost to the dealer for a vehicle is shown on the factory invoice. Actual dealer cost is the amount the dealer will pay for the car after any dealer incentives, rebates, and dealer holdback are subtracted from the invoice.
Let’s break these essential terms down a little more.
Chevrolet Price Tip: These days, it’s hard to find a new Chevrolet at a decent discount. Buyers of automobiles frequently pay more than the suggested retail price. You can still find a great deal by comparing prices on a new Chevrolet using an online shopping service.
Table of Contents
- What is the Chevy MSRP?
- What is the Chevrolet factory invoice price?
- The difference between invoice price and dealer cost
- How to find chevy prices
- What is Chevrolet dealer holdback?
- How to calculate actual dealer cost on any Chevy
- Using invoice price to negotiate a better Chevy price
- How to pay the best local price for a Chevrolet
What is the Chevy MSRP?
The MSRP is the manufacturer’s suggested retail price. As an OEM (Original Equipment Manufacturer), Chevrolet recommends that dealers price a new vehicle at a certain amount. Keep in mind this is just a recommendation.
Dealers are free to charge what they wish for a vehicle (within certain limitations); therefore, MSRP is purely guidance for pricing rather than a requirement.
Chevrolet will base MSRP on many factors, including model, trim package, color, and optional extras.
Vehicles are typically priced around the MSRP, depending on the current market value.
What is the Chevrolet Factory Invoice Price?
The Chevy invoice price is what the dealer pays for the car.
The manufacturer sells new cars to dealers at wholesale prices. The OEM sets the invoice price. The dealer then marks the vehicle up to, or sometimes past, MSRP, adding its profit margin.
Knowing invoice price gives you insight into the Chevy dealer costs, giving you negotiating powers and the knowledge it takes to make a fair offer.
It’s essential to know all of these prices before you buy a Chevrolet.
The invoice price is different from the actual dealer’s cost. Chevy dealer cost includes all associated costs to the dealer, including but not limited to: invoice price, shipping costs, storage costs, and more.
The Difference Between Chevy Invoice price and Dealer Cost
Hidden benefit margins like dealer holdback and manufacturer-to-dealer discounts are included in the prices listed on Chevy factory invoices.
Suppose there are available rebates and incentives on a specific vehicle when the dealer sells the car. The actual amount a dealer pays the manufacturer for a new car can be significantly less than the dealer’s invoice price.
How to Find Chevy Prices
The best way to find the invoice price and MSRP is to visit RydeShopper.
RydeShopper offers a detailed and up-to-date database of manufacturers’ suggested retail prices (MSRP) and invoice prices for new cars.
You can search by make, model, year, and trim to find the exact car you’re looking to purchase.
You also gain insight into any available rebates and incentives offered by the OEMs directly from the dealer.
If you’re buying a car online, ask the dealer for these prices before you buy.
What is Chevrolet Dealer Holdback?
Dealer holdback is a cost element added to the factory invoice price of a new car; it frequently represents 2% to 3% of MSRP. The dealer holdback, which some Chevy dealers will negotiate, is NOT a discount or rebate.
Chevrolet’s holdback is 3% of the total MSRP
To get the full amount available, multiply the total MSRP by 3 percent before calculating the dealer holdback percentage.
For each car the dealer sells over time, typically every three months, the manufacturer pays the dealer a percentage of money. It’s crucial to understand that holdback isn’t always a subject for negotiation or discussion, and some Jeep dealerships won’t even discuss the dollar amount.
How to Calculate Actual Dealer Cost on a Chevy
How to calculate the Dealer Cost of a New Chevrolet:
Chevy Factory Invoice Price
– Dealer Holdback¹
– Customer Rebate²
– Dealer Incentive²
+ Destination Fee
= Actual Dealer Cost
¹Chevrolet dealer holdback is 3% of the total MSRP.
²If is applicable.
Using Invoice Price to Negotiate a Better Chevy Price
Some people like to use the invoice price to negotiate a better price on a Chevrolet.
It’s essential that this is a bargaining tool and does not mean you can buy a car at or below the invoice price.
Having all the cards on the table allows you to make a fair profit new car offer for a vehicle. Remember, dealers are a business and must make a profit to keep the lights on.
When buying a new Chevrolet, it’s essential to know the MSRP, invoice price, and dealer cost. With this knowledge, you’ll be able to make a fair offer and get a great deal on your next car.
How to Find the Lowest Local Chevrolet Price
Once you have the Chevrolet invoice price, use it as leverage when negotiating your best deal. You may be able to get a discount on the sticker.
If you can negotiate a lower price than the Chevy invoice price, you can save a lot of money on your purchase!
Start your deal with RydeShopper below to get the start you need for your next new Chevy.