what is msrp price

MSRP stands for Manufacturers Suggested Retail Price. It is the price that a manufacturer recommends for stores to sell their product at the point of sale. The MSRP is also known as the list price, sticker price, or recommended retail price. It is a price recommendation, and the actual selling price may be higher or lower than the MSRP. The MSRP can include manufacturing and sales costs as well as the average retailer markup. Retailers are not required to use this price, and consumers do not always pay the MSRP when they make purchases. The MSRP is designed to keep prices at the same level from store to store. Buyers use MSRP to determine whether or not a dealership is offering a fair deal on a vehicle and to negotiate to a price lower than the vehicle's MSRP.