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Chevrolet Silverado Prices Paid and Buying Experience

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Comments

  • dannynoonandannynoonan Member Posts: 5
    Also make sure you are dealing with there internet sales person. They cut to the chase a lot quicker.
  • trousermousetrousermouse Member Posts: 7
    Right here...

    http://www.edmunds.com/advice/incentives/2007/index.html

    It just says up to $3000. I wish it had exactly how much it was.
  • samhell99samhell99 Member Posts: 2
    I'm looking at buying a new 08 1500 SWB, 2WD Ext Cab.

    MSRP is 29410

    Its the texas edition w/20 wheels. and all the goodies.
    I know Chevy is doing 2000 rebate and I was wondering was a ballpark figure to get a good deal on this truck.

    Thanks for your help.

    James
  • trousermousetrousermouse Member Posts: 7
    If you credit is good and you plan on financing the best deal is the 0.0 financing for 60 months. That is basically a free loan for 5 years. Forget about the $2000 incentive. Interest rates from banks or credit unions are between 5.5 and 6.5% with good credit. With a $30,000 loan at 6% for 5 years you will spend $4,799.04 in interest on the loan. A lot more than you saved with the $2000 incentive.

    As for negotiating a price at the dealer, I would not pay more than invoice. There is a $440 Factory to Dealer incentive on most Silverado’s and I would make them give you every penny of it. The sales person may not be aware of the incentive but the sales manager definitely knows so don’t get to rude with the sales person just yet. If they act dumb, print this out and take it with you.

    http://www.edmunds.com/new/2008/chevrolet/silverado1500/100911251/incentives.htm- - - l?vdp=off&setzip=78759&state=TX

    Update: Just noticed the Factory to Dealer incentive is only available to residents of the following: LA/OK/TX/Select Counties in AR/KS/MS/MO/NM.

    Truck and SUV sales are way down and the purpose of the incentive is to stimulate sales. Also, on the invoice you will see LAM Dealer and LAM Group contribution. That isn’t a contribution in your favor and is just a junk advertising fee to give the dealer more profit. Some dealers will drop it if you push hard enough and others won’t. With truck sales down you have pretty good chance of getting them to do it. Give them the price you will pay and stick with it. They will try every trick to get you to budge. Tell them that if they want to sell you a car, that’s the price. If they say no deal, give them a business card or a piece of paper with you phone number and tell them you are going up the road to XYZ dealership and if they change their mind to give you a call. Also make sure you specify when you give them the price that it is $XX,XXX plus TT&L. Otherwise they will try and add other fees to the price.

    Good luck.

    Donnie
  • trousermousetrousermouse Member Posts: 7
    I got it for $800 below invoice and 0% interest for 60 months. MSRP was $40,135

    I think I got a good deal.
  • puttercaputterca Member Posts: 4
    i'm a bit confused. edmunds describes the invoice price as the price the manufacturer charges the dealer. if this is true, why would a dealer sell a truck for less than what they paid for it? most posts suggest paying at least $1000 below invoice. doesn't sound like a profitable business to me. please correct me if this is not the case.
    i'm looking at a 2008 LT1 ext 2wd with the california package with an msrp of $29400. edmunds doesn't list provide the cal. pkg price, so i can't get the invoice from this website, but it seems to be typically about 10% below MSRP. so am i correct in assuming the invoice in the truck i'm looking at is about $26500? What do you guys think would be a good target price for this truck? I want to do the 0% instead of the rebates because the interest savings are greater in the long run. thanks in advance for your replies.

    J
  • jfritschjfritsch Member Posts: 958
    Invoice prices have been nominal figures for well over 15 years. Invoice can be a relatively accurate to grossly inaccurate figure of the dealers cost depending on the vehicle (especially trucks/suv's). You want about 6000-7500 off your truck. With the 0% being worth about 4000-5000,(check this out in interest saved) that would be about 2000-3000 off msrp. Good luck

    --jjf

    i'm a bit confused. edmunds describes the invoice price as the price the manufacturer charges the dealer. if this is true, why would a dealer sell a truck for less than what they paid for it? most posts suggest paying at least $1000 below invoice. doesn't sound like a profitable business to me. please correct me if this is not the case.
    i'm looking at a 2008 LT1 ext 2wd with the california package with an msrp of $29400. edmunds doesn't list provide the cal. pkg price, so i can't get the invoice from this website, but it seems to be typically about 10% below MSRP. so am i correct in assuming the invoice in the truck i'm looking at is about $26500? What do you guys think would be a good target price for this truck? I want to do the 0% instead of the rebates because the interest savings are greater in the long run. thanks in advance for your replies.
  • dadwithvandadwithvan Member Posts: 4
    I am looking at a 2008 Silverado extended cab 4wd work truck with LS package and a few other options. MSRP is $29462. I shopped one dealership so far they are telling me a price of 27281. It seems to be about $500 over invoice. I know I can do much better. What should be my lowest possible offer on this truck. I do want to take advantage of the 0%. I am in Minneapolis, if that maters.

    Thanks for any opinions!
  • trousermousetrousermouse Member Posts: 7
    Get a list of all the options you want on the truck and call several dealerships. Tell them what you are looking for and have them fax you the invoice and to make you an offer. Then work down from there. Once you have several offers take the lowest one and then go to the dealership that has the color truck you are looking for (if it not the same dealership) and tell them you will buy the truck if they can beat the deal. That is how I bought mine. I will no longer negotiate in a salesman’s office. By doing via phone and fax they are playing on your terms.

    On a $30,000 MSRP truck you should have no trouble getting one at least $400 below invoice and still get the 0% interest. Truck and SUV sales are way down so dealerships are giving much better deals.
  • dadwithvandadwithvan Member Posts: 4
    Thanks trouser. I think I am there. He has me (or I have him, however one looks at it) at $26,200 on a $29500 MSRP. I also will get the 0%. This seemed like a decent deal to me. I my try to work in a hitch. Ill let the forum know when I make a decision. If the 0% is worth about $4500, that makes the deal about $7700 off of MSRP.

    It is amazing how they try to get you into the dealership. I'm not falling for it either.
  • spahutspahut Member Posts: 12
    Question. MSRP on this truck is $40,920 and am negotiating with them to get to the invoice price of $37,220 and then talk trade. My question is that if you get the price to invoice, or close, do you still have room to negotiate out the holdback?
  • trousermousetrousermouse Member Posts: 7
    Usually, dealerships won’t let you dip to much into the holdback. However, the invoice price isn’t necessarily what the dealership actually paid for the truck. There are incentives, bonuses and yes the holdback. A large mega dealership will have more room to work with you since they typically receive much larger bonuses from GM, Ford, etc. Also, SUV and Truck sales are way down and that also works in your favor.

    Also, don’t let them steal your trade in… Go to http://www.carbuyingtips.com/ and read the chapter on Trade Ins.
  • dadwithvandadwithvan Member Posts: 4
    Well, here is the outcome. I was negotiating a work truck and was down to $26,261 + TTL with 0%. MSRP = $29,462. Ended up another dealership wanted a crack at pricing on a 1LT because they didn't have the specific WT in stock with a 5.3 and power windows etc. - I gave them my price of $26,200.

    The other dealership came back to me with a price of $28000 + TTL and 0% on a $31,485 1LT. I went and checked out the truck, It had more options I liked etc. I called and said a deal at $27,500 + TTL and 0%. The said ok - and said the invoice was $29,409 (which I am not sure I believe). That would be $1909 below invoice.

    I then called the previous dealer and told him I found another truck. He, of course, wanted a crack at it (the 1LT). He called back and told me to go buy the truck at other dealer - and he had no idea how they would let it go at that price.

    So I feel like I got a good deal - $3985 under MSRP with 0% in lieu of a rebate.

    My guess is one can do way better than "invoice" price right now on these trucks.

    Good luck...
  • nwpilotnwpilot Member Posts: 15
    Thanks for the info. I'm with you, prefer the GMC look over the Chevy. Bummer on Dillon being dicks. Never purchased from them, but the few times I've been on the lot they've given me that impression.
  • 2doorpost2doorpost Member Posts: 74
    I'm looking at possibly buying a 07 or 08 Silverado Reg Cab 2WD W/T.
    Looks like the dealers are stuck with a bunch of white ones.
    Bare bones no frills - no extras. Rubber flooring - no A/C
    I've found a few-MSRP 18380 What can I expect to get one for?

    Local Dealer has advertised an 08 for 15500- but its a short bed- I need a long bed.

    Thanks, 2door
  • asylum575asylum575 Member Posts: 72
    There's not much wiggle room on a base truck, about $2000. I'd offer $2500-3000 off sticker. Mind you, the 07s should be lower priced and should discount more, since we're more than half way through the 08 model year.
  • 2doorpost2doorpost Member Posts: 74
    Thanks for the quick reply-

    Best I am finding on an 07 Longbed - You Guessed it- 15,500.00 w/2000 Rebate

    So I guess, for now, this is the price of poker for a W/T Stripped base truck.

    I am in no hurry- I have an 05 which is still in great shape.

    When GM makes a bigger move to get rid of their glut of trucks- Then I'll buy.
  • asylum575asylum575 Member Posts: 72
    I'm in the same boat. I have an 05 Crew 2wd. Looking to trade for an 07/08 crew/extended 4wd. Waiting for rebates to go up, I hope. Gm is still at 2000 on 08s, dodge was up to 6000 and ford was 4500. Hoping Gm goes up and increase the rebate allowance on the GM card. I can wait. If I wait long enough, I may be looking at the Hybrids for 09.
  • 2doorpost2doorpost Member Posts: 74
    I guess patience is a virtue- New ad out by one dealer today - 15250 for a New 08 Longbed with A/C. One in Stock. MSRP 19250. 4000 off. Nice Discount.

    I have to check that one out.
  • asylum575asylum575 Member Posts: 72
    I guess that's with the $2000 rebate on the 08. Rebates will change on Tuesday. Hope they go up, but they haven't since Oct/Nov. I have noticed alot more inventory out there, but that could just be GM pushing out units to clear out old American axle stock. I don't think the strike has ended. GM may be anticipating a shortage of vehicles later and are reluctant to "give" the truck away.
  • 2doorpost2doorpost Member Posts: 74
    Rebate is 1500 on this truck. I am going down there on Monday morning to see if this is for real.
  • samhell99samhell99 Member Posts: 2
    Well I got exactly what I was looking for and at a very fair price I think
    2008 Ext Silverado
    Dark Metallic Blue
    Texas Edition-5.3lt V8 20" aluminum wheels, trailering package, power fold mirrors. cargo management system)
    LT1 Equipment group
    LT1 convenience package(fog lights, steering wheel controls etc.)
    MSRP 29950
    $26100 plus TTL
    I got 0% financing plus I knocked a good deal off with my GM card.
    I have to say I'm impressed with the new Silverado's. Compared to my 05 F150 which I traded in, it rides much smoother and the interior build quality is much nicer.

    Thanks for your help!
  • 2doorpost2doorpost Member Posts: 74
    Went down there - They still had a lot of trucks- So I felt there was no hurry.

    Waited for April 1st- And the Owner Loyalty Rebate Arrived- 2000.00

    In addtion to the 1500.00 that was out there.

    The dealer that I went to raised the price on their trucks 2000.00. Nice.

    I found my ideal truck in the right color at another dealer-One that I've bought from before. Thats where I'm heading next.
  • asylum575asylum575 Member Posts: 72
    Did you as the dealer what was the unexpected cost of having the truck on his lot, that sparked the $2000 price increase. Go back to the dealer on a day the salesman isn't around and don't mention or show up with your trade. Negotiate the price without the trade, see if you can get the old price. Then, hit them with the trade and the fact you want the $2000 loyalty rebate. This is the kind of stunt that gives dealerships bad names.
  • darkbludarkblu Member Posts: 5
    Anyone know if the loyalty rebate is combined with the regular rebate? For instance if I want a Silverado Crew cab and am eligible for Loyalty, it should be the $2000 plus $2000 correct? Anyone have a confirmed sale getting both yet?
  • asylum575asylum575 Member Posts: 72
    That is correct. I also had a dealer say it was good on leftover 07s for $3000+$2000=$5000 rebate. Gm card redemptions have not gone up yet. Maybe for May
  • 2doorpost2doorpost Member Posts: 74
    I got a confirm from another dealer that the loyalty rebate and the other rebate are separate. IN print. From GM.

    By the way- I did go down to the first Dealer today- What a treat. I took a printout of their internet Ad (dated today) with the original cheap price.
    While I was there- the saleperson asked another if the original discount still applied- and they said NO.
    I knew right there-
    1)- They were full of crap.
    2)- I wouldn't spend my hard earned money there even if I convinced to
    give me the deal. They weren't worth it.

    So I let them spin their wheels for a little bit- let them do a computer search for color- where I saw the real inventory and locations of the vehicles I wanted (complete with number of days in stock) - let them do a ridiculous "first pencil" and basically told them I was going home. Done.

    This little effort taught me-
    Who has the exact truck I want (x4) color and all.
    The rebate setup- (1500 plus the loyalty 2000)
    Dealer mark up approx( 2000 )
    Holdback (560)
    Factory to dealer money(400)

    I might not be able to grab the last two- but I do know that I won't get cheated out of either rebate.
  • asylum575asylum575 Member Posts: 72
    Sorry you had a bad experience. Been there, I know what that feels like. At the end of the day, make sure you get the deal you want with the truck you want in the color you want. Where you buy really shouldn't make a difference. I know the first dealer tried to pull a fast one, that's why I recommended going back and trying for the deal. Remember , the best revenge is living well. Get what YOU want.
  • 2doorpost2doorpost Member Posts: 74
    I had an old timer (salesman) tell me one time "How much is your time worth?" (when it comes to grinding out a deal)

    The internet and support by this site makes it that much simpler and quicker.

    Thanks for your help.
  • darkbludarkblu Member Posts: 5
    Well, did it all in one jump. I guess I've made a couple of posts here in the last month or so and I finally got the truck I've been wanting since high school. Took only 10+ years, but hey, it's good to say you're earning your wheels now.

    Things got really jumbled up during the whole deal, moreso than the last deal we made with another dealership at least from what I can remember. It's hard to say exactly what I got off the truck because of trade in, taxes and how complicated the write-up looked, but I figure I got between $7000 and $7500 off MSRP. Not quite $1000 below invoice, but maybe $200 below or so.

    Not the absolute best deal, but a pretty good one I believe. This is an 08 LT1 Z71 4x4 Crew with $2400 in options. Went the $2000+$2000 rebate route and got them to compete for financing.
  • jwill340jwill340 Member Posts: 3
    I have been shopping for a new Silverado for awhile now. I think that I may have the deal that I want and would appreciate any input. The truck is an extended cab 4x4 Z71 with LT1 and Power Plus package. The MSRP is $31,800 and with the $2000 + $2000 loyalty rebates my price is $25,000. Does this sound like a good deal? Thanks for any input!
  • hpspringerhpspringer Member Posts: 7
    Currently driving a 2003 Ram 1500 with towing option and towing the max at 8500 pounds. With 100k miles and moving to a slightly larger towing load, I just started looking.

    Today at a Dodge/Chevy (small southern town) I came across this:

    2007 (new) Silverado 2500HD 2WD (that's all I need since I am 100% highway) LWB with:
    -5 year/100k Drive Train warranty
    -2LT and Power Option package
    -4 door Crew Cab
    -OSRV Mirrows
    -6 speed Allison Automatic
    4.10 Rear end
    -8,1L V8 Vortec engine

    and a few other minor options.

    All this for just under 24,000 + TTL

    Now this seems like an excellent price to me, but not knowing the Silverado, thought I ask you kind folks opinion.

    Knowing there are many factors in calculating gas mileage, I am also wonder about the MPG for this engine/Transmission combo for Freeway (400-500 mile trips) without a towed vehicle.

    Any feed back would be GREATLY appreciated, Thanks
  • jfritschjfritsch Member Posts: 958
    The vehicle sounds like its msrp would be around 34000. Since an 07 used probably wholesales for about 13000+ less, (check on kbb.com,nada.com) 10000 off a new one would be around what you want off. (and a good deal)

    The dodge ram 1500 msrp 38000 regularly sells for 12000+ off. (a mediocre deal considering its hi msrp and 07 used wholesale ) and can be had for more off. It has a lifetime powertrain warranty. Some think the chevy's styling is better though.

    --jjf

    Currently driving a 2003 Ram 1500 with towing option and towing the max at 8500 pounds. With 100k miles and moving to a slightly larger towing load, I just started looking.

    Today at a Dodge/Chevy (small southern town) I came across this:

    2007 (new) Silverado 2500HD 2WD (that's all I need since I am 100% highway) LWB with:
    -5 year/100k Drive Train warranty
    -2LT and Power Option package
    -4 door Crew Cab
    -OSRV Mirrows
    -6 speed Allison Automatic
    4.10 Rear end
    -8,1L V8 Vortec engine

    and a few other minor options.

    All this for just under 24,000 + TTL

    Now this seems like an excellent price to me, but not knowing the Silverado, thought I ask you kind folks opinion.

    Knowing there are many factors in calculating gas mileage, I am also wonder about the MPG for this engine/Transmission combo for Freeway (400-500 mile trips) without a towed vehicle.

    Any feed back would be GREATLY appreciated, Thanks
  • asylum575asylum575 Member Posts: 72
    I didn't think the 8.1/4.10 combo was offered in the new style silverado/sierra. It could be an 07 Silverado Classic. That being said , it's a towing beast. probably will get no better than 13-15 with conservative highway travel. But nowadays with diesel so expensive, it's a good gas alternative to pull some weight around.
  • hpspringerhpspringer Member Posts: 7
    It is an 07, but still new, a leftover on a local dealers lot. I wasn't sure about the capabilities of the 4.10, but suspected that with the 8.1 and Allison 6 speed, it should be very good for towing.

    With the additional cost of the diesel engine and fuel, I just can't justify a diesel and thought this sounded good for towing.

    13-15 conservative highway sounds GREAT. My 5.9L Dodge Ram gets only 15-16 with passengers only highway. When I stick the trailer behind it, I get 8.2 - 9.6 mpg. Actually I just jumped to 9.6 mpg after having the truck and trailer tires purged and Nitrogen filled. Before that the best I ever got Freeway towing was 8.6.

    Thanks to you both for the feedback
  • asylum575asylum575 Member Posts: 72
    The 13-15 MPG is just a guess. And that's empty. Pulling a load you're probably looking at 10mpg with a light foot.
  • 7gentex7gentex Member Posts: 2
    2008 Silverado 1500 2WD Ext. cab SWB
    LT2 - includes 5.3 V8 LY5, A95 with AG1 and AG2 - cloth, etc.
    PDA - Texas Edition - includes P58 20" rims, QSS, RAE cargo system, etc
    PDD, PCW - includes ASF airbags and JF4, UD7
    PCY, K47, KNP, G80, GU6, Z60, Z82, PDF, PPA

    MSRP - $33,895
    Paid - $26,947 = TT&L

    Internet quote approach
  • 7gentex7gentex Member Posts: 2
    Missed the edit window........

    the above should be

    MSRP - $33,895
    Paid - $26,947 + TT&L
  • wahoojblwahoojbl Member Posts: 1
    What rebates are included in that price? Sounds like a pretty good deal.
  • branhapbranhap Member Posts: 10
    Purchased my Extended Cab 4wd LT2, LT2 Convenience, Towing, Z71, safety package, standard bed this past weekend. 5.3L; 3.73 axle ratio

    MSRP - $36,700
    After Rebates- $29,599.

    Ended up driving 6 hours, local dealer wanted $32+ for the same truck.

    Paul
  • asylum575asylum575 Member Posts: 72
    Branhap,
    Does your deal include the $2000 rebate + the $2000 loyalty rebate.
    I hate all these rebates, It's hard to see if you got a good deal. I guess that's the point. I operate under the rule that the vehicle should discount 10% off sticker then deduct rebates.
  • branhapbranhap Member Posts: 10
    Yes.

    $2,000 for rebate, plus $2,000 for loyalty rebate. Although Loyalty rebate doesn't really matter as Sunday Chevy added a Conquest Rebate to the Silverado even. *shrug*

    With regard to discount, most of the dealers I got quotes from were in the 7 to 8% range off MSRP before rebates, with one dealership at 9.6% (but didn't like that truck as much.) For the most part. Local dealership wanted only 5% off MSRP.

    My main goal is to get the truck for close to invoice, then take off the rebate.

    For the most part, I did not find Edmunds TMV or the cars.com smart price to be very accurate. Just better to go in and ask for invoice price, and go from there!

    Paul
  • 44blues44blues Member Posts: 1
    Yesterday I purchased a 2008 Silverado 1500 4wd ext cab work truck with full towing package (rear locker etc) and bedliner/rack mounting system. Sticker was $28,810
    minus 2k standard rebate, minus 2k conquest rebate and $1875 off from dealer ...sales price is $22,994 plus 95 title/doc prep.
  • spahutspahut Member Posts: 12
    I got my 2008 LTZ 4WD crew cab. Had engine block heater, skid plates, 6 CD, sunroof, EZ Lift, and safety package.
    MSRP - $42,204
    My Price - $ 39,077 b4 rebates
    cust $ - $ 2,000
    loyalty - $ 2,000
    -------------
    $ 35,077 before trade and money down

    Input would be appreciated.
  • jfritschjfritsch Member Posts: 958
    A 42000 Ltz will probably wholesale used for about $26000 in 12 months. (Look up an 07 on kbb or nada.com). If thats the case, eating 9000 or more (depending on how you did on your trade.) to drive a chev pickup for the 1st 12 months wouldn't appeal to me. 7000 or 8000 off msrp for a truck that depreciates $16000 from msrp 1st year (like most of the 42k'ers) isn't exactly giving it away.

    --jjf
  • spahutspahut Member Posts: 12
    Yea, after the trade price of $5500 that gave me $29,500 before putting any money down so it was about $13k off the msrp. If I read you correctly should I have gotten the price down to about $36k before rebates and trade to be in the ballpark? If so how do you get a dealer to come down when they still consider the truck "new"?
  • jfritschjfritsch Member Posts: 958
    Read my message 4681 in the Hyundai Sonata forum for useful info on how to buy a car. Yes I would have wanted a minimum of 10k off the msrp.

    Of course the truck is new. An 08 dodge ram 1500 msrp $41000 may be new. An used 07 like it 13 months or so old according to kbb.com or nada.com will barely trade in for $20000. (its msrp is even more unrealistic than most trucks). Even 12000 off msrp is financially yuckky. This will be more yuckky if gas is $4.00 and above in the future.

    If you got about kbb value for your trade you didn't leave much more money on the table. If the dealer in question happens to have a gold mine due to his location or otherwise, he may be able to work 7000 off deals on 42000 LTz's frequently (frequently enough to work them). You may have been able to work a better deal (walking out and leaving your # helps) but if his business is great, you could beat you head against the wall for hours and get an additional free oil change and a chevy hat.

    But not all the dealers, competitive bids (via email phone or fax) is the way to go.

    Good luck
    --jjf
  • spahutspahut Member Posts: 12
    I guess my comment about the truck being new was the comment the dealer made. I went in trying to get them to come down about 10% off MSRP and that would be close to invoice and then take rebates, trades from there. Looking to come down $10k from MSRP was something I had not heard nor would I have thought you could get a dealer to come down that much.
  • jfritschjfritsch Member Posts: 958
    Its much better to get many dealers to bid end of month for your business. That way you separate the wheat from the chaff and get the few who need to make a sale. The bids may go down (over telephone or email) as the 30th or 31st ticks nearer.

    You really can't have an auction (for your business) with only one bidder. Its like one hand clapping. For price targets a fairly good rule of thumb is to take the kbb or nada wholesale of the vehicle you are looking at used (12-14 months old) with average miles and add about 20% for the target on a new one. One should shoot for as close to that as possible.

    --jjf
  • fueledupfueledup Member Posts: 64
    You really don't know a thing about purchasing a new vehicle. It doesn't matter one ioda which day of the month you decide to purchase a vehicle. If a dealership needs to move a vehicle it's more than willing to make that move on the first,thirty-first or any day in between. To say to target a price at 20% above the kbb wholesale of a 12-14 month old value is just stupid. What matters is having the actual knowledge of the dealers cost of whatever vehicle your interested in purchasing. Using your theory a dealership is willing to lose apprx. 5,000.00 on every vehicle it sells. Yes depreciation sucks but thats a fact of life. Knowledge is king. If there's trunk money , holdback ,dealer adv., rebates ,etc. If its a cold car you can get all that. If not your somewhere in between. And thats when you turn the table and waste there time invested so they dont want to lose your business.
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