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If you live in the Oshkosh-area and are shopping for a new vehicle, you’ve probably encountered the acronym MSRP. What is MSRP? And what does MSRP mean? MSRP stands for Manufacturer Suggested Retail Price and indicates the price the manufacturer recommends dealerships sell a vehicle at. MSRP is also sometimes called the list price.
This price is determined by the manufacturer by using a few pieces of data. These include:
Keep reading this guide from the team at Holiday Automotive to learn more about what MSRP means, how it’s set, and how you can use it to get a fair price on your next car.
The Manufacturer Suggested Retail Price – aka MSRP – is the price the manufacturer of the vehicle recommends to the dealer. The majority of Sheboygan shoppers only encounter the acronym MSRP when shopping for a vehicle.
Usually you will find “MSRP” alongside other automotive terms like base price, invoice price, and transaction price. The value of the MSRP is determined using these terms, both for the buyer and the dealership. These are some more details on what exactly an MSRP is:
Several pieces of information go into setting a MSRP. This includes information like:
The manufacturer uses all of these to determine what a vehicle’s MSRP should be. Here’s some more specific information on how an MSRP is set:
Just because the MSRP is the price the manufacturer recommends, that doesn’t mean it’s the price you will have to pay. A dealer may have paid as much as several thousand dollars less than the MSRP for the vehicle, which means they’ll still make a profit even if they sell below the MSRP. These some tips for getting a fair price at a dealership using MSRP information:
We hope that this guide has helped you learn more about MSRP and how to negotiate a good price. Now, come to Holiday Automotive to get your new car! Connect with our finance center and we’ll be able to work out a deal that works for you. Or, if you still have questions about buying or leasing terms, contact us and we’ll be able to answer them.