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If you’ve been shopping for a new vehicle in the Monticello, MN area, you’ve more than likely come across the acronym, “MSRP.” But, what is MSRP? What does MSRP mean? MSRP stands for Manufacturer Suggested Retail Price and it’s the figure that the manufacturer recommends Elk River dealership sell a vehicle at. Also known as the list price, the manufacturer determines this price based on market information regarding the vehicle’s popularity, the materials it’s made of, and much more. Learn more about the MSRP meaning and the difference between MSRP vs. invoice price with Cornerstone Auto.
What does MSRP mean? As mentioned previously, the MSRP is the recommended price that dealers can sell a vehicle at. Let’s explore what an MSRP meaning is in-depth, below:
While car shopping, you may hear the term “invoice price,” but what is the difference between an MSRP vs. invoice price?
It’s important to remember that the MSRP is “suggested,” so there’s usually room to negotiate. Knowing a car’s MSRP vs. invoice price will help you determine what a fair negotiating price should be.
Although the MSRP is the price recommended by the manufacturer, it’s not necessarily the price that Ramsey, MN shoppers have to pay for a vehicle. Here’s how you can go about getting a fair price on your next automobile:
If you intend on leasing your next vehicle, you can still negotiate the MSRP since the price that you and the dealer agree on will determine your monthly payment costs.
Now that you know the answer to “what is MSRP for cars” and the difference between the MSRP vs. invoice price, reach out to our finance center experts to initiate the car-buying process. We’ll help you secure a great price on your next vehicle when you apply for financing. When you shop with Cornerstone Auto, you can get the car you want at a price that accommodates your budget!
For the second year in a row, Cornerstone Auto is honored to be awarded the bronze award for being both Minnesota’s best used car dealership and Minnesota’s best new car dealership. Every year, our happy customers in the Elk River area vote for the businesses they love through the Star Tribune, Minnesota’s number-one trusted source for local…
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