For a new Chevrolet Suburban, your target price should ideally be as close to the invoice price as possible. While the Manufacturer's Suggested Retail Price (MSRP) represents the sticker price, savvy buyers aim to negotiate closer to what the dealer paid for the vehicle. The actual price you pay will depend on the specific trim level, optional features, current market conditions, and your negotiation skills.
Understanding Chevrolet Suburban Pricing
When purchasing a new vehicle like the 2023 Chevrolet Suburban, it's crucial to understand the difference between MSRP and invoice price.
- MSRP (Manufacturer's Suggested Retail Price): This is the price the manufacturer recommends the dealer sell the vehicle for. It's often referred to as the "sticker price."
- Invoice Price: This is generally what the dealership paid the manufacturer for the vehicle. It's important to note that the invoice price doesn't account for dealer holdback (a percentage of the MSRP or invoice paid back to the dealer by the manufacturer after the car is sold) or other dealer incentives, so the dealer still has room for profit even when selling at or near invoice.
Here's a breakdown of the 2023 Chevrolet Suburban's MSRP and invoice prices for popular trims:
| Trim Level | MSRP | Invoice Price |
|---|---|---|
| LT | $64,295 | $60,925 |
| RST | $66,895 | $63,385 |
| Z71 (Most Popular) | $68,895 | $65,277 |
| Premier | $72,195 | $68,399 |
Strategies for Getting a Good Price
To ensure you get a fair deal on your new Suburban, consider these practical insights:
- Research Thoroughly: Begin by knowing the invoice price for your desired trim and any optional packages. This information gives you a strong starting point for negotiations.
- Aim for Invoice or Slightly Above: A good negotiation target is usually between the invoice price and a few percentage points above it. This allows the dealer to make a reasonable profit while still giving you a good deal.
- Get Multiple Quotes: Contact several dealerships to solicit price quotes. Competition among dealers can drive the price down.
- Timing Your Purchase: Towards the end of the month, quarter, or year, dealerships may be more willing to offer discounts to meet sales targets. New model year arrivals can also prompt deals on outgoing models.
- Consider Market Conditions: In periods of high demand or low inventory, dealers may be less flexible on price. Conversely, in a buyer's market, you might find more room for negotiation.
- Separate Negotiations: Negotiate the vehicle price first before discussing trade-ins or financing. This keeps the process clear and prevents confusion.
- Be Prepared to Walk Away: If you're not getting the price you want, be ready to leave. This demonstrates your seriousness and can sometimes prompt a better offer.
- Account for Additional Costs: Remember that the purchase price is only part of the total cost. You'll also need to factor in sales tax, registration fees, documentation fees, and any optional add-ons like extended warranties or protection packages. Negotiate these items separately or decline unnecessary ones.
By approaching the purchase armed with pricing knowledge and effective negotiation tactics, you can secure a competitive price for your new Chevrolet Suburban.
