The value of a vehicle from its data is called the "Blue Book price" or "Blue Book value." Like Edmunds, Kelley lists its own used car values, using its own proprietary methods. Kelley Blue Book is one of many resources that dealerships use to evaluate the pricing on a trade-in or used car.
If you already have a quote from the dealership, use the Edmunds Price Checker to help determine if you're getting a good deal. But by looking at the TMV or the Edmunds Suggested Price, you can get a rough idea of how popular the vehicle is and what you should expect to pay for it. Because the market value is an average, some people will pay less and others will pay more. The market value will usually lie in between the invoice price on the low end and sticker price on the high end. It is based on our analysis of millions of data points including supply, demand, incentives, options and recent nearby transactions. The Edmunds Suggested Price is what we recommend you pay, not including taxes or fees. Edmunds calls this the Edmunds Suggested Price it was previously called the True Market Value (TMV). The market value of a vehicle is the average amount that buyers in your area are paying for the vehicle. Learn more What is the market value price? This is where the Edmunds Suggested Price comes into play since it looks at what other consumers are actually paying for a vehicle and reveals a fair price to pay. The purchase price is often in between the manufacturer's suggested retail price (MSRP) and invoice. Knowing the invoice price is an important part of shopping for a new vehicle since it gives you an idea of the potential discount range, but it isn't the only number to focus on. It is roughly what the dealership paid the automaker for the vehicle. Invoice price (sometimes referred to as "dealer cost") is the price that appears on the invoice the manufacturer sends to the dealer when the dealer receives a car from the factory. You'll find these extra dealer options itemized on a document adjacent to the window sticker called an "addendum" or "supplemental window sticker." Learn more What is the invoice price? These items are bundled together and will raise the price of the vehicle. More commonly, you may come across a vehicle on the lot that has a number of dealer-installed options, such as wheel locks, all-weather floor mats and a cargo net. Some dealerships will use this as an opportunity to make an extra profit and add a "market adjustment" that raises the selling price of the vehicle. Let's say there's a highly anticipated model coming out and the initial inventory will be limited. As the MSRP acronym spells out, the figure is the "suggested" price, not the maximum price. Learn more Can a retailer charge more than MSRP?
This total is often called the "out-the-door price," which should be the actual final price. But keep in mind that MSRP is just one component of the final selling price, which also includes the destination fee, sales tax, registration, interest charges and more. That said, if the vehicle is in high demand - think of a brand-new or redesigned model - transactions well above MSRP are not uncommon. Often a vehicle will sell for less than MSRP. In many cases MSRP is actually the starting point for negotiations. But don't let Ford confuse you - the MSRP is really just a component of the sticker price. The sum of these costs is the sticker price, which may be labeled on the sticker as "Total Vehicle Price" (Honda) or "Total Price" (Ram) or even, confusingly, "Total MSRP" (Ford). Another separate line item on the Monroney is the gas guzzler tax, if applicable. The presentation of the MSRP can differ by automaker, but essentially the MSRP is the manufacturer's suggested price for the vehicle including any factory options but excluding the destination fee. The MSRP of a new car is listed on the window sticker, which is commonly referred to as the Monroney sticker or simply "the Monroney." As such, people often use the terms "sticker price" and MSRP interchangeably, but this technically isn't correct.
Learn more What is the "sticker price" on a car? MSRP is cited in many advertisements and vehicle reviews. As the name indicates, it is the price that the manufacturer recommends dealers charge for the vehicle, excluding the destination fee. MSRP stands for manufacturer's suggested retail price.
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