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What is MSRP?

What does MSRP stand for? I saw this acronym when I was searching through Kelley Blue Book.

avatar
Rachel Juillerat · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“A lot of people ask this question, so I’m glad you brought it up!
MSRP stands for Manufacturer’s Suggested Retail Price. Manufacturers suggest retailers charge this price. Some retailers charge more or less than the MSRP, depending on the vehicle’s make and model.
Because retailers (think: dealerships) often display an inflated price, that gives you some room to negotiate when you
buy a new car
. You absolutely should negotiate every time you buy a car so you can save money; it’s common practice to haggle a bit–or a lot–when buying a car.
You can also save money on your car insurance, though you can’t negotiate rates. Instead, you can save money on car insurance by shopping around and comparing rates. The
Jerry
 app makes comparison shopping easy by pulling quotes from the top providers and delivering the best deals to your phone in minutes for free.”
MORE:
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