The costco buying program will do basically $500 below invoice. If one dealer can make money doing that, so can another.
I hit up costco and truecar to see what I could get as offers, partially hoping that the local dealer with three of what I wanted on the lot would be one of the dealers my info was sent to.
Costco sent me to some place 40 miles away and with a less than stellar reputation whose first question was would I take black, white, or gray (specifically colors I did not want). Truecar sent me one place I never dealt with, one that was the sister dealership to the place I took my subie for service, and some place in manhattan that wouldn't talk price over the phone, nor did they actually submit a price for something in inventory via truecar. I wasn't about to spend multiple days at $20+ a round trip to discuss prices with them in person for configurations they admitted they didn't have.
In the end, I had invoice - $500 from the costco dealer, MSRP -$1260 for a configuration I didn't like for a place that jeep.com said had exactly what I wanted, but they didn't offer that up (their page was a bit vague about equipment on what they did send prices on, and it looked like invoice - $460ish) , and MSRP - $650 (not even invoice) from the place with a decent rep.
I did the math on the travel costs for juggling vehicles (didn't do a trade in), and figured being close to home and my bank was worth about $100. So my target was invoice -$400.
I got invoice - $370 and they drove me around to juggle cars, and everyone went home happy. At that point they went from dealing to trying to find a way to claw back some of the deal via other methods, so invoice - $400 might have been doable, but I was near their limit.