Pizz

I'm wondering why some Chevy dealers across the country are still holding their C7 prices high, when it is clear to anyone who spends a couple minutes on the web that C7 dealer inventories are through the roof and there are significant factory "unpublished" incentives (including C8 allocations).

In Alberta, with the exception of a couple dealers, the discounts are in the $11K (Stingray) to $15K+ (Z06) range, before negotiations, depending on the model and trim installed.

A few dealers, like Sherwood Park Chev, are holding their advertised prices at $4K off MSRP, when the factory's published discount is $5K. The only thing I can think of to answer the question is that people who haven't done at least 5 minutes of Autotrader/Chev Canada research actually walk in and buy one from a dealer like this.

68ACADIAN

Yeah I work at a major GM dealership in the NW and I'm seeing huge discounts on the windshield's of '17's. I think it's going to take more than what's advertised to move these things before the C8's start rolling in.

My 2 cent though..........

Mike Jung

Costco members has GM Preferred Pricing until Labour Day weekend on 2019 Corvettes (except the ZR1).

http://www.costcoauto.ca/promo

Mad*Max

Mike, am I reading this right it is 1.5,% of invoice plus 1% of MSRP? That does not sound that appealing if it is the case.

Pizz

I think it’s 2.5% of MSRP + delivery ($2,000)+ $450 in fees.
On a car that lists for $100k, that’s $4,950 over invoice. Plus tax.

919cw313

Tell me more.

Mad*Max

I did much better than that in January.

Pizz

1) Chev's Dealer holdback is ~3% of MSRP and Chev's factory discount on the C7 is $5,000. That's a very good starting point.
2) Dealers receive sales incentive payments from Chev that are based on achieving vehicle sales targets (good luck getting anyone to turn this into a dollar figure for you). A sales GM I bought 6 trucks from, at invoice price, got me a crazy deal on a personal vehicle using what he called "dealership money the factory gives me make deals with".
3) Dealers receive payments from Chev for achieving high customer service levels and/or high quality levels. Ever wonder why the sales guy always wants you to give them top scores on the customer survey before you leave the dealership on the day you pick up your new ride?
4) C7 sales volume at a dealer will drive that dealer's C8 allocation (one of the Alberta dealers had over 90 new corvettes on their lot)
5) C8 corvettes will be selling at or near list, so there will be healthy profits on those

Add these all up and some dealers are using what we know and what we generally don't know to move their C7's to maximize their C8 allocations, and future profits.

I'd welcome any owner of a Chev dealership to come on the forum and clarify anything I've missed.

family-man

When’s 0% finance expected? I’m preferred pricing eligible (1.5% over dealer cost) and Costco. It’s still like 3.49% for 84 mos

Mike Jung

Depends on the vehicle, and length of financing.

Like a GMC Terrain Denali that I just did a Purchase Agreement to buy for myself, was 0% over 5 years.

And IIRC:
1.49% over 6 years
1.99% over 7 years

1500cc

I wouldn't think of the preferred pricing as the target price, but rather just another tool to help you get to your target (which should be lower than the preferred pricing on most mainstream vehicles). When I bought my Regal GS this winter, I had about 80% of the price negotiation done before I even mentioned I was eligible for preferred pricing. It was basically a way to close the gap when we were that final bit apart.

I look at preferred pricing as a way for the dealer to save on what he has to pay GM for the car, and therefore pass that savings on to me. But only after we've already negotiated almost all the way to where I want to be.