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If you’re in the market for a new vehicle, and you’re wondering how much you’re going to pay, you might see comments about MSRP. But what is MSRP, and how does it relate to cars? MSRP stands for Manufacturer Suggested Retail Price and is a number that the manufacturer has commended dealerships near Hannibal to sell a particular model at. This is also known as the list price, and the manufacturer determines market information such as the vehicle’s popularity, the materials that got into building it, and more. You can find out more about what is MSRP and how it can relate to you below, as well as the difference between MSRP and Invoice Price with the help of Shottenkirk Chevrolet and our finance department.
If you want to know more about MSRP and what it entails, then you’ve come to the right place. Our finance department is ready to break it down for you, starting with just how MSRP affects the car buying process for Monroe City drivers.
Sometimes you’ll see the invoice price listed while car shopping, alongside the MSRP. This can be a little confusing, but as a reminder:
MSRP is a suggestion by the manufacturer, which typically means there is room to negotiate with the dealer. Knowing the difference between MSRP and invoice price, as well as those amounts for the model you’re interested in, can go a long way during negotiating a fair price.
Keep in mind some of the following tips, which can help you during the negotiation process to ensure you aren’t overpaying for your vehicle:
Now that you know more about what an MSRP is and how it is different from an invoice price, you are in a better place to start the car buying process. You can also view the rest of our car buying tips for additional information and to make sure you’re getting the best price possible on your new vehicle. Don’t forget, once you’re ready to purchase your vehicle, to apply for financing online!