What Does MSRP Mean?

Finance Paperwork with Glasses


Looking for a new vehicle and trying to figure out what “MSRP” means and its significance? We’re here to help! MSRP is the abbreviation for Manufacturer Suggested Retail Price and it represents the dollar amount at which the manufacturer recommends a Hempstead dealership should sell a new Chevrolet. It is also sometimes referred to as the “list price”. The number is determined by its material make-up, popularity, and more. Read below to learn more about MSRP and its uniqueness compared to the invoice price with the help of Millennium Chevrolet!

What is MSRP?

Still need more information about MSRP? We’ve got you covered. As mentioned before, the MSRP is the suggested price at which the dealer should sell a specific vehicle. We have more details regarding MSRP so you can feel confident as you car shop in Hicksville.

  • A specific vehicle model will share the same MSRP across all dealerships, since the price is set by the manufacturer and not the dealership.
  • Note that the MSRP will not be the same for each vehicle the manufacturer sells. The number is only connected to the specific vehicle and will vary depending on the model, year and trim.
  • You can find the MSRP in various locations such as the manufacturer’s website or the dealer’s website. Feel free to use this number when negotiating a price for your new vehicle.

How is the MSRP Determined?

  • The MSRP sets a vehicle’s base price at its entry-level configuration without extra features or accessories added to customize the vehicle.
  • Additional features and higher trim levels will raise the cost of the vehicle.
  • Even though the MSRP is recommended by the manufacturer, it’s not always the price the dealership will decide to sell the vehicle at.
  • Sometimes, you might see that the dealer is selling for a different price than what the MSRP is. Depending on how much the dealership paid for the vehicle, the dealer can raise or lower the price of the car for Freeport shoppers.
  • Popularity is also a factor in determining how much a vehicle costs. Models in high demand are more likely to be sold at a price closer to MSRP, while models with less popularity will probably be sold at a discount.

MSRP vs. Invoice: What’s the Difference?

While car shopping, the term “invoice price” may be thrown out. If you’re not sure what the difference is between MSRP and invoice price, this may be confusing, but at Hempstead, we’re here to help! The MSRP is the amount suggested that you pay the dealership; the invoice price, also referred to as the dealer price, is the amount the dealer pays the manufacturer. Remember that MSRP is the suggested price, so you usually have room to negotiate a price. Knowing these two numbers will help you determine what a fair negotiating price will be.

Learn More About MSRP with Millennium Chevrolet!

Now that you are more knowledgeable about what an MSRP means and the difference between MSRP vs. invoice price, reach out to our finance center to start the car-buying process on a new or used truck today! We’ll help you get a great price on your next vehicle and answer any questions you may have. Get the car you need for your Douglaston lifestyle when you shop with Millennium Chevrolet !

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