If you’re shopping for a new vehicle around Beverly Hills, you may have found yourself asking, “What does MSRP mean?” This oft-seen acronym stands for Manufacturer Suggested Retail Price and it pretty much means that — it’s the price at which the vehicle manufacturer recommends that a dealer sell the car. So, what is MSRP, and what factors affect it? Jaguar Los Angeles has all of the details below!
How is MSRP Set?
To start, let’s go with all the things that factor into the cost of a vehicle. As you can expect, there’s plenty to consider before you get to that price tag you see on the showroom floor in Bel Air. Here are a few ways to answer the question, “What does MSRP mean?”:
- The MSRP names the entry-level configuration of the vehicle and does not include any accessories or additional features. Those will raise the cost of the vehicle.
- As stated above, a manufacturer recommends an MSRP but a dealership may not go with that price.
- Why would the dealership raise or lower the price? Sometimes, they have to factor in the invoice price of the vehicle. This is the amount a dealer pays the manufacturer.
- Demand also determines the vehicle’s MSRP. Popular models like the F-PACE tend to be sold very close to the MSRP, but less popular models can vary and be sold at a discount.
What is MSRP? More MSRP Facts
So, now we know how MSRP is set. Here are some more important facts about MSRP that Los Angeles drivers should keep in mind:
- What is MSRP in a different dealership? The MSRP will be the same across the board – if dealerships differ in prices that’s for other reasons.
- You can easily find the MSRP on the dealer’s website so you can better negotiate with a finance center.
What is MSRP and How to Get a Good Price
Here’s one important note for Pasadena drivers: the MSRP is a suggestion, and you will be able to negotiate a price with any dealership. So, how can you find a good price? Follow these tips:
- Go online to Kelley Blue Book, Edmunds, and Cars.com to find out what other people are paying for your vehicle.
- Ask for the invoice price. Dealerships don’t have to show you the invoice price, but some will accommodate. Knowing this price helps you understand how much room you have to negotiate.
- Go to more than one dealership to see if they have special offers.
- If you’re looking at lease offers, you’ll still have room to negotiate! Lease payments are determined by MSRP, so knowing the MSRP helps.
Shop for Cars at Jaguar Los Angeles
Buying or leasing a car can feel like walking through a labyrinth, which is why Jaguar Los Angeles helps Los Angeles drivers with car buying tips and online tools like a payment calculator. Contact us today to get a great price on a Jaguar!