Price paid for your Kia Niro
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Hey Alex. Have you heard of TrueCar.com? It's a price comparison tool that'll show you average prices of the vehicles purchased in your area, for both used and new. From what I can tell, prices still seem to be pretty close to msrp, but their graph will also show you the invoice price that the dealer pays, so maybe you can use that to finagle a bit of wiggle room.
Actually, that's a really good price for a Touring with Tech Pkg! The dealers here want upwards of 35k for one.
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I'm interested in this topic too. I've never bought a new car before, so really not sure how it all works. I know that the Niro is in demand, so there isn't that much wiggle room. I dread the whole negotiation process....but want to get the best price possible. There is such little data out there since the niro is new. Any advice?
At the end of next month, I intend on sending a letter to all the local dealers with an out-the-door price on the model, color, and features I want. The lowest bidder wins my business, with the caveat that I promised I'd go back to a certain dealer to see if they can beat the other dealer's price if they're not the lowest... I already know (or knew, now not as sure) that I want a Cerulean Blue EX with Tech Package. Hopefully, it'll help. 
That's w/o taxes and fees.
I think a fair equation is [(invoice $) - (dealer holdback)] X [1.03 to 1.05 (which would be 3-5% profit)] minus any other incentives you qualify for such as military, uber, student, etc. But you may get an even better deal with time.
Another way is like 100-500 over invoice price, I think I paid 300-400. As the car gets older and there are more on the lot you may even be able to get them under invoice.
Key is to also use prius prices.
Alternatively negotiate for a price reduction if you don't take the financing.
kprenesti- wow, when I read your post I had to do a double take to make sure I didn't write it! That is exactly the color and model I want: Cerulean LX, and decided I want the Adv.Tech package. That is also the method I use to negotiate. Call several dealers, tell them the model and level, and would only accept a total out the door price incl. tax, title/tags, on paper. I've got two bids within $50 of each other, with the farther away dealer saying to call him if it's within a couple hundred of lowest.
I have financing and no trade-in to muddy the negotiating. The only thing I didn't do is get a quote with the Adv.Tech package, decided later I want it. So now they are looking for one- apparently not to many LX's with Adv.Tech.pkg. yet. Maybe Kia is hoping you'll just move up to the EX model. Have you had any luck locating one?
I have financing and no trade-in to muddy the negotiating. The only thing I didn't do is get a quote with the Adv.Tech package, decided later I want it. So now they are looking for one- apparently not to many LX's with Adv.Tech.pkg. yet. Maybe Kia is hoping you'll just move up to the EX model. Have you had any luck locating one?
Fernando- maybe I'm wrong, but I don't think the best idea is trying to figure a formula. There is too much finagle room using invoice/holdback. I've read you never really can find the dealers cost because there are extra incentive/holdbacks to the dealers.
Anyway, the only important thing is what is the bottom line, out the door price for me. Find the current incentives I qualify for. Call and email the dealer. I deflect questions like what do I want for monthly payments, trade-in car, how much can I borrow.. I want the lowest price you can sell me the exact model, level, color and options I want. I contact several dealers with the same info. Lowest price wins. I'm afraid I'd get zig-zagged around by the salesmen if I did it any other way.
Actually, I really do want the EX. I have dogs, so in the summer that extra back vent will be VERY helpful, I think, especially when one dog hops in the front seat and hogs the front-center vent. My poor other dog is too big to do that too so she sits in the back waiting for the AC to cool all the way back there.
I haven't seen too many LXs with Tech Pkg. Truth be told, I didn't realize that the LX even came with it. I knew after taking one look at the options that the EX is my best fit. Good luck getting your car!! When do you think you'll pull the trigger? For me, I'm going to wait until Christmas. Maybe do it on my birthday (Dec 27th). By then, the 2017s will be as cheap as they're gonna be, I think. (Hopefully the 2018s won't be too enticing! lol)
paid about $500 under sticker, but I only got it because they homered the TrueCar price. You should also be cautious since may dealers will add in $250-$3000 in "Dealer Fee" for them.
Keep in mind that there is only about $1,000 to $1,800 in margin between sticker and cost depending on model, but everything else is pure profit for the dealer.
These prices should come down as they get more in the pipeline. Right now they are just starting to be delivered to dealers. Don't let them fool you though. Most dealers will tell you they are flying out the door. From what I see yes they are selling, but because many dealers are adding in these fees, I have seem them sit on lots for weeks until the dealer relents and gives a better deal.
I my case, I refused the dealer fees and had the TrueCar price and they finally reluctantly homered it.
Keep in mind that there is only about $1,000 to $1,800 in margin between sticker and cost depending on model, but everything else is pure profit for the dealer.
These prices should come down as they get more in the pipeline. Right now they are just starting to be delivered to dealers. Don't let them fool you though. Most dealers will tell you they are flying out the door. From what I see yes they are selling, but because many dealers are adding in these fees, I have seem them sit on lots for weeks until the dealer relents and gives a better deal.
I my case, I refused the dealer fees and had the TrueCar price and they finally reluctantly homered it.
Your strategy is what I took, but I use a range to figure out where I want the numbers out the door to be. I wanted to pay between 3-5% profit to the dealership since I bought it early. So I asked for the best prices out the door, they were all higher than my range, so I countered with what I wanted to pay and got a price in that range. Invoice and holdback can be easily calculated from edmunds or kbb. Hidden manufacturer to dealer incentives are definitely hard to calculate. So my point is have a range already in mind because with a new~ish car like this you aren't going to get insane offer, at least not now. I paid like 300-400 over invoice, I don't doubt people will be able to get a better deal soon.
You are correct. Invoice is a sham number. depending on the dealer, there can be an additional $500 to $1,200 in intensives. Like volume order discounts, flooring fees, stock incentives (Like Kia has too many FE models so they offer discounts for dealers to order those) and on and on. Just keep in mind that all those people in the dealer are getting paid and it is a very nice building and there are millions of dollars in cars sitting on that lot. The dealers are not poor.
Also keep in mind it is organized selling. The Auto Dealers Association is an organization for these dealers to lobby and protect their incomes. Think of it this way... Why can't you order a car directly off the manufactures website and get it delivered to you, thus cutting out the middle man and saving all that money? With today's internet it is completely possible.
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Every new car I am considering is in the $28,000 range including the Niro EX, Subaru Impreza Hatchback and Chevy Cruze Hatchback. Went to the Chevy Dealer today and he started with $3500 incentives off and told me I could negotiate more with the manager. The Cruze has a nicer interior, I think, but the Niro is really what I want.
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