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It's not like one dealer has a significantly lower bottom dollar than another dealer.

Sometimes they do. Of course the invoice price from the factory is the same for every dealer, but the way each dealer structures the deal can be much different if the dealer factors in potential volume bonuses into their deals, and a lot of dealers do, their bottom dollar could be a lot different.

The only real difference is the people.

That is the biggest difference, but its still more than that. As an insider dealing day to day with 14 new car dealers I see a lot more difference in how customers are treated and deals are made than just different people and how incentives are applied.
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