I have been in the car business for less than a year, but I have learned a lot in that short period of time. It has been astonishing to me to find out how little I knew before getting in this business and I am far from the only. The main reason I decided to start this blog is to educate the public on the buying process from someone on the inside. I often look online for articles on the process and I run into things like “8 Tactics Car Salesman Use to Trick You” and the like. I believe that with the passage of time, the advent of technology, and the growth of the internet, there is no reason for a buyer not to get the best deal on the right car for them. All of the information needed to accomplish this goal is available to buyer. Therefore, these “tactics” should be irrelevant. A buyer shouldn’t be able to be tricked. That is why I don’t fear divulging all of the information you will find in this blog. It’s available to you anyway! My purpose is not entirely selfless. Of all of the things I’ve learned, the number one thing that can keep me from a sale or even keep me from being able to talk to someone who is in the market for a new or pre-owned vehicle is fear. It is my hope that by being transparent, potential customers will be more comfortable coming to the guy that shows he has nothing to hide. I’m going to write articles that have varying levels of complexity. From simple things like “What is a Window Sticker” to more complicated like “How the Trade Process Works.” I hope that the information I provide helps you become a more educated buyer, helps you get the best deal, and helps you get it from me.
For my first post, I’m going to keep it simple and explain Manufacturer’s Suggested Retail Price or MSRP. We hear the term or it’s abbreviation a lot, but what is it exactly? The MSRP is the price that a brand, such as Chrysler, recommends that a dealer sell the vehicle they made for. You will find the MSRP on the window sticker* of the vehicle and it should also be on the dealerships website*. If a vehicle has the same trim level* it will have the same MSRP or “sticker price” no matter where you buy the vehicle. The only exceptions would be if the manufacturer offers a discount for certain features at the time of manufacture or if there is a different type or brand of part that is used in the making of that vehicle*. Typically, this difference is very small though. Now for the most important part. Never, under any cirumstances, pay that amount. Most dealers now sell all of their new vehicles at invoice* (how much they paid for it) minus rebates* (discounts available to the buyer). If you get your new vehicle from me, you will NEVER pay MSRP.
NOTE: An * by text means that this item will be discussed further in a future blog post