|About the Book|
If you believe: (a) that those big new-car pricing websites are telling you the whole truth about today’s automaker-dealer financial relationship, (b) that “the dealer invoice price” minus “holdback” is what dealers really end up paying for cars, (c)MoreIf you believe: (a) that those big new-car pricing websites are telling you the whole truth about today’s automaker-dealer financial relationship, (b) that “the dealer invoice price” minus “holdback” is what dealers really end up paying for cars, (c) that you should aim for the “target prices” those sites recommend (Fair Purchase Price, True Market Value, Good Price, Great Price, etc.), (d) that “clicking through” for quotes from their “dealer networks” will get you the best price available, and/or (e) that the dealer is your enemy (he’s not), you must read this eye-opening book.James Bragg has been an automotive consumer advocate for over 20 years.As the hands-on owner-operator of Fighting Chance, a national new-vehicle information service, he’s logged over 60,000 hours focused on one subject: the consumer’s purchase and lease of new vehicles. He long suspected that the factory-dealer financial relationship had been changed dramatically after the Internet arrived, making the information and advice that is still promulgated on those new-car pricing websites obsolete and misleading. Several common-sense “red flags” almost shouted that “the dealer invoice price” couldn’t be anywhere near the real dealer cost of any new vehicle.Some of his most revealing insights on this issue have come from the post-purchase phone calls and transaction reports he’s received from tens of thousands of Fighting Chance customers. They’ve provided the building blocks that have helped piece together a behind-the-scenes picture of how the money side of the retail auto business really works today — a picture often aided by post-purchase comments made by loose-lipped dealer personnel.The big breakthrough came in 2011, sparked by the analysis of a major import brand’s January price increase. A subsequent broader analysis of brand-by-brand price changes over several years revealed an industry-wide pattern, completing a credible, fact-based picture of the whole truth and leading to a single, incontrovertible conclusion. It’s one that will make you question the value of the information and the negotiating advice you’re finding on those new-car pricing websites and getting from other consumer-oriented organizations like Consumer Reports. Either they don’t know the whole truth about the industry’s “redesign” of the dealer invoice price (shame on them), or they don’t want you to know it (double shame on them). This book takes you briskly through the quest to uncover the facts — an eye-opening revelation that will change forever the way you view and approach the car-buying process.