Actually, that's a really good price for a Touring with Tech Pkg! The dealers here want upwards of 35k for one.I paid 31,286 for Touring with advanced package. I got the first one in the dealership so I wasn't able to negotiate as good a discount.
That's w/o taxes and fees.Actually, that's a really good price for a Touring with Tech Pkg! The dealers here want upwards of 35k for one.
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.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?
Alternatively negotiate for a price reduction if you don't take the financing.Just interested in hearing about what kind of deal was had on your Kia Niro. I did take the 0.9% 5 year Kia financing incentive and put no money down. Crazy not to do at that rate. Thanks.
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.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.
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.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?
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.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.
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.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.