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What is MSRP?

Couple sitting at sales desk at dealership

Whether you’re looking at a manufacturer’s website or our new inventory, you’ll probably notice the “MSRP” listed – but, what is the MSRP? MSRP stands for Manufacturer Suggested Retail Price, and it’s the price point that the manufacturer recommends to the dealership. Also known as the “list price”, the MSRP is determined by market information, material costs, and other factors. Learn a little more about the MSRP meaning, and find out how to leverage that knowledge into a great deal in Broken Arrow.

What is MSRP Meaning?

Here are a few things to keep in mind about MSRP meaning when you start your car buying process in Owasso.

  • The MSRP is set by the manufacturer, so it will stay consistent across all dealerships.
  • The MSRP for one car won’t necessarily be the same for another. Different models and different trims have different MSRPs.
  • The MSRP is easily located on the manufacturer’s website if you can’t find it on the dealership site.

How is the MSRP Set?

Now that you know what the MSRP is, how is it set?

  • The MSRP is set at the base configuration without any additional features or accessories.
  • Higher trims and upgraded features will elevate the cost of the vehicle.
  • The MSRP is the manufacturer’s recommended price, but it is not the price that the dealership must use.
  • Depending on what the dealership pays, they may charge more or less for the car.
  • Demand will alter the price point of the vehicle as well. More popular cars will be close to the MSRP or even higher, while less popular models might be under the MSRP.

MSRP vs. Invoice Price

What about “invoice price”? The invoice price is different from the MSRP, and the difference can be vital to your negotiation. Invoice price is the price that the dealership paid for the vehicle, while the MSRP is the price you’ll pay the dealership for the vehicle. 

How Do I Get a Fair Price?

Taking what you’ve learned about the MSRP, you can start your negotiations with confidence.

  • Look around to see what others in the Bixby have paid for the year, make, and model that you want. Popular options include Kelley Blue Book, Edmunds, and Cars.com.
  • Start negotiating under the MSRP and work your way up. Don’t forget that higher trims and extra features will bring the cost up.
  • You can ask for the invoice price, but not all dealerships will let you see it. But if you have access to that information, you can use that to guide your negotiations as well.
  • Even if you are leasing your car, you can still use the MSRP to bring down your monthly costs. You and your dealership must come to an agreement, so don’t be afraid to bring out your research.

Get a Fantastic Deal with Jim Glover Chevrolet

Now that you know more about car pricing, start shopping with Jim Glover Chevrolet! Our team will be happy to help you find just the right car at just the right price, so don’t hesitate to contact us. You can even apply for financing from home!

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