If you are shopping for a new vehicle in the Evesham Township area, you may be wondering about the MSRP of your preferred vehicle and what goes into determining this amount. What does MSRP mean? MSRP stands for “Manufacturer Suggested Retail Price,” and it is the price that the automaker recommends to a dealership that sells the particular make and model. You may also have heard this amount referred to as the list price. The manufacturer determines MSRP based on market information on the vehicle’s popularity, the materials that go into its production, and more.
What is MSRP?
Wondering a bit more about the meaning of MSRP? Read on to find out!
- MSRP for a particular model does not vary by dealership because it is set by the manufacturer.
- MSRP will vary for every vehicle the manufacturer sells. For example, SUVs will have a different MSRP than a sedan or a truck.
- Trying to find the MSRP for a particular make and model? This price can be found on either the manufacturer website or the dealership website.
How is the MSRP Determined?
- The MSRP is the base price for a vehicle for its entry-level trim. Additional features or accessories are not included in this price.
- While the MSRP is recommended by the manufacturer, dealerships are not required to sell the vehicle at that price.
- The invoice price of the vehicle, which is the amount the dealership paid for the vehicle, will affect the cost of that vehicle for drivers in Cherry Hill.
- Demand also influences how a dealership sets the price of a particular vehicle. The cost of popular models will likely be close to the MSRP. Models that are not as popular with Hamilton Township drivers could be priced at a discounted rate.
What is the Difference Between MSRP and Invoice Price?
How does the MSRP vary from the invoice price?
- Invoice price (or dealer price) refers to the amount a dealer pays the manufacturer.
- MSRP (a.k.a sticker price) is the amount you pay the dealership to purchase the vehicle.
How Do I Know I’m Getting a Fair Price?
When you shop with BMW of Mount Laurel for your next vehicle, you can feel confident that the price you pay is both fair and competitive. For added peace of mind, consider the following.
- Research what other drivers have paid in Mount Laurelf for the same vehicle. You can find this information on sites like Kelley Blue Book, Edmunds, or Cars.com.
- Start your negotiation below the MSRP, and work your way up from there.
- Some dealerships will provide you with the invoice price of the vehicle if you ask to help you decide where to begin negotiations. Keep in mind that they do not have to provide you with that information.
- You can still try to negotiate price even if you are leasing your vehicle.
Start Shopping with BMW of Mount Laurel Today
At BMW of Mount Laurel, it is our goal to get you behind the wheel of a vehicle you will love for many years to come. Peruse our inventory online, or stop by today to explore our showroom. You can even get pre-approved for financing online before you visit. Contact us today for more information.
