Vans - Triple Net Invoice including Government Incentives percentage
| Location: | Iowa |
|---|---|
| Posted: | Aug 10, 2026 |
| Due: | Aug 24, 2026 |
| Agency: | State Government of Iowa |
| Type of Government: | State & Local |
| Category: |
|
| Solicitation No: | 005-RFB-2982-2027 |
| Publication URL: | To access bid details, please log in. |
Bid Information
Bid Number
005-RFB-2982-2027
Solicitation
Vans - Triple Net Invoice including Government Incentives percentage
Solicitation Type
Request for Bids
County
Description
Description
Iowa DAS Fleet Services is seeking bids from dealerships to establish a fixed percentage rate above the Triple Net Invoice, including Government Incentives, for vans.
Agency Information
Number
005
Name
Administrative Services, Dept
Address 1
1305 E Walnut ST
Address 2
City/State/Zip
Des Moines, IA 50319
Contact Information
Contact Name
Rick Tucker
Contact Title
Procurement Specialist
Contact Email
Contact Phone Number
(515) 360-9912
Contact Phone Extension
Contact Other Number
Contact Fax Number
Valid Dates
From
8/10/2026 12:00:00 PM
Until
8/24/2026 12:00:00 PM
Documents/Attachments
Attachment Preview
Overview: Iowa Department of Administrative Services is seeking bids from dealerships to
provide vans. The vehicle price will be set by the manufacturer, this bid is to establish a fixed
percentage rate above the Triple Net Invoice, including Government Incentives, for any
Government Fleet rate vehicles or off the lot vehicles.
This bid will also establish a per mile rate for delivery.
Awarded vendors will be required to provide an itemized Triple Net Invoice (including Government
Incentives) for each vehicle, for which the percentage service rate will be applied. DAS Fleet will
review the invoice, only upon approval DAS Fleet will issue a purchase order inclusive of the vehicle
and percentage cost.
This request for bids is for manufactures entire line of vans.
DAS reserves the right to award multiple vendors.
A "triple net invoice" is the dealer's true baseline cost, calculated as the gross invoice minus all
hidden manufacturer discounts, holdbacks, and incentives. Government discounts (state fleet
programs) are then applied as a fixed percentage or negative modifier directly to this true net
cost.
Example Breakdown
To see how a triple net calculation works in practice, here is a hypothetical example for a vehicle
like a mid-size commercial SUV with an MSRP of $45,000 and a standard dealer invoice of
$41,800.
1. Calculating the Triple Net Cost
Dealers receive money back from the manufacturer that does not appear on a standard
invoice.
• Gross Dealer Invoice: $41,800
• Less Dealer Holdback (typically 2% to 3% of MSRP): -$1,000
• Less Manufacturer-to-Dealer Incentives/Volume Bonuses: -$1,200
• **Triple Net Cost (True Dealer Cost): $39,600
2. Applying the Government Discount
Government agencies (state/local municipalities) frequently establish master
agreements to purchase vehicles at the exact triple net invoice or a flat percentage
rate below it.
• Government Contract Rate: Triple net invoice -2%
• Discount Amount: $39,600 × 0.02 = -$792
Page 1 of 2 pages
005-RFB-2982-2027
3. Out-The-Door (OTD) Government Cost
• Base Vehicle Cost: $38,808
• Destination Fee: +$1,200
• Final Government Price Paid: $40,008
*Example Only * Numbers are NOT Actual * DAS Fleet will require copy of the Triple Net
Invoice*
The term of the contract will begin October 01, 2026 and will expire September 30,
2027. The Agency shall have the sole option to renew the contract upon the same or
more favorable terms and conditions for up to two annual extensions.
This bid is exempt from state sales tax.
Bid Lines
Contractor to provide a cost percentage over Triple Net Invoice, including
Government Incentives, for Government Fleet vehicles and off-the-lot vehicles.
Quantity: 1 UOM: Percent
Notes:
Unit Price:
Contractor to provide cost per mile to delivery to DAS Fleet Services, 510 E. 12th Street, Des Moines, IA 50319.
Quantity: 1 UOM: Mile
Unit Price:
Notes:
Notes
Page 2 of 2 pages
005-RFB-2982-2027
This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.
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* Disclaimer: Information regarding bids, requests for proposals (RFPs), or requests for qualifications (RFQs) is provided on this website only for convenience and does not constitute official public notice. Persons wishing to respond to or inquire about bids, RFPs, or RFQs should contact the appropriate government department.