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How much can I get off MSRP?
How much of a discount can I get off of a new car’s MSRP? I’m in the market for a new car and I don’t want to pay the full MSRP.
Rachel Juillerat · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Good for you for researching before making such a big purchase!
2% above the dealer’s invoice price is a good deal. The dealer’s invoice price is what the dealer paid the manufacturer. The MSRP is the manufacturer’s suggested retail price and is only a recommendation.
The good news is that dealers expect you to negotiate when
buying a new car
. Start from the dealer’s price and go up instead of negotiating from the MSRP down. While your target is around 2% above the dealer’s invoice price, leave some wiggle room for the dealership to budge.Before you negotiate, do your homework on any potential customer or dealer rebates, specials, and dealer invoice pricing. The more knowledgeable you are about your new car’s pricing, the better negotiating you can do.
Keep in mind that when you buy a new car, the lender will require full coverage. The more coverage you have, the more expensive car insurance is, but you don’t have to drain the bank to have the right coverage. Try using the
Jerry
app. Jerry compares rates from the top providers and delivers the best deals to your phone in minutes for free.Good luck negotiating for your new car!”
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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