First of all, MSRP is a complete fiction. Do not negotiate from MSRP. $500 off the fantasy MSRP is not a meaningful figure. You want to base your negotiation on the invoice price.
You can ask the sales person to show you the invoice, or you can go on KBB or other sites and find out what it is. Invoice is supposedly what the dealer paid for the car. In reality, there are dealer kick-backs and incentives you can't see - so don't worry, they will make money and be able to feed their kids even if they let the car go at invoice.
The question here is what price will they sell the car for and still make money? It depends. This is a new car so the dealers are still discovering how to sell it and at what price - which means there will be a lot of variation.
I got mine at about $800 below invoice - but it was President's Day in the US with extra sales incentives and I also had several dealers competing with each other as I asked them to match or beat offers. Granted, that is probably more work than the average buyer wants to do.
I think there is about a 75% chance that if you make an offer for invoice price that a dealer will take it. Of course, as I said location is a variable and so is what they have in stock. (For best pricing, make on offer on something they already have in inventory.)
- If you know what you want, don't go in to the dealership. Negotiate over the phone or email so you don't get bounced between a floor sales person and their manager playing good-cop-bad-cop.
- Every dealer has an internet sales manager - deal with them. They know you know the invoice price. They know they are competing with other dealers. You can contact them by responding via their website. Or use a service like True Car, Car Gurus, or KBB to ask for quotes.
- The services will get you offers from multiple dealers, but if you don't use them then contact several dealerships on your own.
- The most important price is the total taxable amount (not including any trade in). You want the price with the destination charge and any taxable fees included. This is how you deal with dealer fees - you ignore them and make them the dealers problem. If they want to charge a doc fee or whatever, that is fine - just roll it in to the total price that you will be comparing with other dealers.
- Nail down the price of the car before you talk about a trade in or financing.