Hey,
Getting my new car soon. Went to Bowling Green today and got my $1,000 certificate. Well anyway, I want to make a good deal. What is the current dealer holdback for new Camaros. I heard it was like 5% but not sure. Just trying to figure how low below invoice I should offer. Thanks!

 

Here's an excellent article explaining dealer holdback. I didn't know this - the longer the car sits on a lot, the less holdback the dealer gets. After 90 days, the dealer doesn't get any holdback money, so it's probably a non-issue with camaros - the last one was delivered a few months ago?

Anyway, read this -

http://www.edmunds.com/edweb/holdback_list.html

Usually, GM dealer holdback is 3%, but not on a car that's been sitting in the lot for over 90 days.

 

I just bought my Z28 this Thurs. I got $5000 off sticker between GM's $3000 rebate and heavy negotiating.
Good luck,
Pete

 

Wow, good article. I always thought the opposite was true. That the holdback increased the longer the car was on the lot! Good thing I read that. $5,000 off MSRP is not bad. I have the $1,000 Camaro certificate, a $400 college grad rebate, and about $300 in credit on my Gm card so I was hoping to find one for about $5,000 off invoice. We'll see what happens!

 

Just bought my 2002 TA / Ram Air... listed 35k... we dropped to 29k from GM card and heavy negoiating. Went up from taxes of course though i know that didn't help prob but i wanted to share

 

Hate to bust your bubble, but you ain't gonna get it for $5,000 under invoice. Holdback is like 3.5 or 4 percent, I can't remember. I used to sell cars at a Chevy lot, and we never went into the holdback. On a Camaro, you can probably get it at invoice, or a little over. All these rebates are great, but you still have to pay sales tax on the selling price. It's just like it's money out of your pocket you're putting down on the car. Whatever happens, have fun with your new car.

 

Sucks to be you guys, I live in NH, we don't have sales tax. GM has a 3000 rebate, plus another 2000 off sticker, that easy. Let's face it, it's mid Sept and this is a convertible in NH. They'll give it away or it's gonna sit until at least next May. I wouldn't have got the deal on an SS convert. though. They're in too high demand.

 

Hey,
Thanks for the help guys. I live in Knoxville, TN by the way. Dandridge is not that far from me. Anyway, I guess i'll try to get the car at invoice plus the rebates. That sounds likely. Just wondering but if you buy a car out of state with no or low sales tax do you have to pay your own states sales tax? Just wondering. i'm sure the state gets thiers somehow no matter where you buy it at.

 

Oh and about the NH dealers, would you mind telling me the name of some of the dealers up there that still have Camaros in stock. it sounds like a buyers market up there and that is what i'm looking for, a dealer that just wants to dump his 2002 models before the end of the year. I don't mind traveling. Thanks!

 

Technically, whenever you buy something from out of state, you shouldn't pay that state's sales tax -- however, when you bring it back into your state, you should be paying your home state a "use tax". In other words, if I (in PA) were to drive down to DE (where there is no sales tax), I would be paying 6%.

Secondly, one thing I noticed when buying my Trans Am recently, if you're looking for one in an area where the supply is drying up and they are in high demand, be prepared to pay near sticker. Near the Philly area, a few dealers who have one or two Z28's on the lot might give you a decent deal; but I found that I had to call all over eastern PA to find my pewter WS.6 M6 TA and then had to fight for even $1k off sticker. Hopefully the market is different in your area.

 

Cool!! There was a guy that works (or he did as of a few months ago) at West Chevrolet who is a big Camaro guy. He started a Camaro club in Maryville, but had to quit when he started selling cars. He didn't have enough time. His name is Chris LaRue. He's a real stand up guy and would do you right. Usually West has a pretty good selection of Camaros, and if they don't have what you want, maybe Chris will dealer locate one for you. Tell him I sent you, maybe he will send me a finders fee!! Just kidding!! I haven't talked to him in about 6 months, but last I heard, he was still selling cars out there. Good luck in your search.

 

...The holdback does not decrease the longer the car sits on the lot (at least at a Chevy Store). The holdback is still there, but the margin of profit that the holdback generates decreases because the dealer principle is paying floorplan intrest on the car. Most dealers do not have enough capital to carry all of the inventory that they stock, so they have to floorplan (finance) the cars with GMAC, or banks. This is why the holdback would appear to diminish.

I am a finance manager at a fairly large Chevrolet dealership in Florida, and have worked for GM dealerships for the last 7 years. We would not sell a Camaro into holdback. We would not sell any car into holdback except on very rare occasions.

As far as the sales tax. State have what the call reciprocation on sales tax. Example: If you live in Michigan and buy a car in Florida to title it in MI, then the state of Florida would collect the sales tax, and the state of MI would give you credit for the sales tax collected in FL. If you live in a state that is a non-reciprical state, then you would have to pay sales tax in FL, and then again when you go to have your vehicle titled in your state. This is obviously something that would be very important to know before you purchase a car out of your state.

Hope this information helps.

 

This is how the sales tax worked with me. I live in Jackson MI and bought a 95 C1500 in Toledo OH for 10,000. I was first issued an Ohio title then had to get a Michigan title to get my plate. Ohio didn't charge me any sales tax, but the Secretary of State charged me $600 and plate fees in order to get my truck legal. I asked why they charged me for sales tax and she said that their was a mark on the title that told them that I didn't pay it in Ohio.

That is just my situation, I'm sure that there are many others.