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If you’re shopping around the Huntington area for a new Land Rover vehicle, you may have many questions about the car-buying process like “What is MSRP?” and “How is that amount determined?” MSRP stands for Manufacturer Suggested Retail Price and is a number that the manufacturer recommends that a Charleston dealership sells the vehicle at. MSRP is also known as the list price, which is determined based on market information on the popularity of the vehicle, materials needed to build it, and more. Get all the details about MSRP, how it’s set, and how you can use it to get a fair price on your next vehicle.
The Manufacturer Suggested Retail Price is the price that the OEM recommends dealers sell the vehicle at. Most Parkersburg shoppers come across this term when shopping for a vehicle, which is accompanied by other terms like invoice price, base price, and transaction price. These all determine the value of the MSRP to both the buyer and the dealership.
The manufacturer uses information like manufacturing costs, sales processes, and the average markups by Wheeling dealerships with live and historical market data to determine the MSRP. Learn how the MSRP gets set below:
The MSRP may be the manufacturer’s recommended price, but it doesn’t mean that’s what you’ll pay. Since the difference between what the dealer paid for the vehicle and the MSRP is several thousand dollars, the dealer could lower the price and still make a profit. Check out our tips for getting a fair price below:
After learning about the MSRP, it’s time to visit our Charleston dealership to get behind the driver’s seat of the luxury vehicle that’s going to take your commute to exciting new levels. Give us a call if you have any questions, and be sure to check out our vehicle specials!
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