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Some brands are easy to save with – offering huge discounts, rebates, and incentives. But some might be harder to find the savings. So how do you know what to look for? A good place to start is with the invoice price, especially if you are looking for a new Jeep. With our first tip, let’s establish what invoice price means and how it will help you when shopping for a new Jeep.
The invoice price is fundamentally what the dealer paid for a vehicle from the manufacturer. But there’s actually more to it than that, as outlined in this helpful guide. Due to dealer holdbacks, dealer rebates, and other manufacturer incentives, dealers can sometimes purchase vehicles for even less than the listed invoice price. Meaning they have a much lower overhead on that particular vehicle.
Finding these vehicles can be difficult. However, there are free search tools available to get you in touch with the right dealers at the right time so you can get the best deal on a new Jeep. Through Automoblog, we offer this free and easy search tool to help you obtain the invoice price on any new Jeep model. You can search from your home and see which Jeep dealers in your area offer the best discounts and incentives.
Many different market factors affect how a dealer prices their vehicles, Jeeps included. Factory rebates and seasonal dealership promotions, like a July 4th or Labor Day weekend sale, are two of the most common. Similarly, overall vehicle demand and how long a particular vehicle has been on the lot also impact the asking price. For example, brand new vehicles, like the forthcoming 2022 Jeep Compass, will likely have fewer factory incentives than a 2021 model year. When shopping for your next Jeep, it’s best to get ahead of the game and find out what the dealer paid before you go, which speaks to the importance of our first tip. This will help you make a fair offer when you are negotiating with the dealership.
However, as we mentioned a moment ago, it’s important to keep in mind that these discounts typically apply to vehicles that have sat on the lot for an extended period of time, including unsold previous year models or other low-demand vehicles. In Jeep’s lineup, these lower-demand vehicles include models like the Renegade and Gladiator versus the more popular Wrangler and Grand Cherokee.
Unique feature combinations such as manual transmissions, base models with upgraded tech or comfort packages, or even polarizing colors can get you into a Jeep with the same or similar options for potentially thousands less. In the Jeep lineup specifically, the Gladiator Willys has a more affordable starting MSRP at about $41,000 versus the High Altitude at $52,270. Since Jeep offers outstanding 4×4 capability across its entire lineup, you don’t need to have the highest trim level in order to own a rugged vehicle. If you can live with a lower to mid-range trim level, you can get the 4×4 capability and still save on the purchase price.
Another thing to keep in mind: Dealers use popular car research sites for advertising their best and newest models, paying top dollar to get these flashy vehicles on the first page. These models are usually the most profitable for dealers and will be the most difficult to purchase below invoice price. That said, the vehicles that are available below invoice may not be the first you’ll see when you walk in.
Tip #3: Do Your Research Beforehand
A little extra effort can go a long way. Researching sales trends over the last year gives you insight into what vehicles in your area are struggling to sell and what vehicles to focus on during your communications with dealers.
In addition to knowing the differences between the MSRP and invoice price, there are other terms and phrases often associated with car buying. Take a look at this helpful guide before heading to the dealership. You want to ensure you are not caught off guard by any “lingo” the sales associates may use.
Lastly, make sure you have some understanding of the Jeep factory warranty ahead of time. Depending on how many miles you are planning on driving, an extended warranty may benefit you. However, before you make a decision, look through this helpful guide to the Jeep factory warranty.
Other Helpful Insider Tips
Leftover Jeep models are the most likely to sell below invoice. When a dealer has last year’s model still on the lot, they are losing money every day it’s there. Use this fact to your advantage to help you negotiate a lower price. Always keep your eyes peeled for a previous model year Jeep on the lot.
Take an honest look at your “gotta-have-it” list in terms of features and options. You may find that there are certain things you can live without. Doing so will save you money on a new Jeep.
The posted invoice price is available to anyone who searches for it, and though it can be hard to find, our free search tools make it easy to find the invoice price on a new Jeep. We also trust Rydeshopper, a neutral third-party vehicle search site. Like our tool, you can use Rydeshopper for free to see dealer inventory in your area, along with contact info and pricing.
If you plan on financing your new Jeep, make sure to visit your local bank ahead of time to inquire about a loan. Sometimes, a dealership can offer better terms and conditions through the lenders they work with, but you will know where you stand if you visit your local bank ahead of time.
If you are still unsure after visiting the dealership, ask for the final purchase price in writing. Take 24 hours to think it over before making a decision.