That's for invoice, which is what everyone expects now in days, at least if they visit these forums. Dealer cost is calculated by taking the 5% holdback (calculated on MSRP) and subtracting that from the invoice calculated from the above. Most dealers won't dip into that 5% completely if at all because that 5% isn't something most dealers are able to collect from BMWNA; collecting the 5% is based on a bunch of key metrics and the dealer essentially needs to be a COE to collect the full amount. Again, I'm not 100% on the info in this particular post, it's just things I've read on this forum and another.
