What is MSRP?

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

Answer
“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.”
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Rachel Juillerat
Answered on Sep 10, 2021
Rachel Juillerat has her Master's in Publishing & Writing from Emerson College. You can view her work in the Independent, Cupid's Pulse, and the Penmen Review. She has worked in personal finance for five years before transitioning to insurance. She lives in Boston, where she spends her time exploring small New England towns, learning new skills, and napping through her cat's zoomies.
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