TSRP vs. MSRP: What’s The Difference?

As you shop for your next new vehicle, you’ll likely prioritize models that best suit your budget. But, depending on the manufacturer, you may find yourself looking at two different pricing models: MSRP and TSRP. Though most Lehi drivers are familiar with MSRP, many will need to know: What is TSRP?

In this TSRP vs. MSRP comparison from Ken Garff Chevrolet, our finance team will review the differences between both pricing models and answer popular questions such as, “Does TSRP include tax?” and “Is TSRP negotiable?” Then, when you’re ready to start the car-buying process, visit our dealership near Pleasant Grove to find a new Chevrolet that works for your wallet. 

TSRP vs. MSRP

At their core, MSRP and TSRP are simply two different ways a manufacturer may price their vehicle. Compare the TSRP and MSRP definitions and pricing differences in the breakdown below:

• What is MSRP? MSRP stands for “Manufacturer’s Suggested Retail Price.” It was popularized after the Automobile Information Disclosure Act of 1958, which required all vehicles to display starting prices in their windows. Typically, a car’s MSRP is determined by how much it costs to produce, average sales costs, and the price of any dealer-installed accessories. 

• What is TSRP? TSRP stands for “Total Suggested Retail Price.” Started by Toyota to promote extra clarity around vehicle pricing, the TSRP includes the original MSRP, plus delivery, processing, and handling fees. While generally higher than a car’s MSRP, the TSRP will give you a better idea of where to start the negotiation process.

Frequently Asked Questions About TSRP

Since TSRP is not yet an industry standard, many drivers find themselves curious about the unique nature of this pricing model. See some of the frequently asked questions about TSRP below:

Does TSRP Include Tax?

No, TSRP does not include taxes. Neither MSRPs nor TSRPs build taxes into their pricing, as each state will have different laws and tax regulations around vehicle sales. 

Is TSRP Negotiable?

Yes, TSRP is negotiable. Just like MSRPs, TSRPs can fluctuate due to market demand, amenities, and manufacturer-backed promotions. The goal of a TSRP is to provide clarity on the fees associated with bringing a vehicle to the Eagle Mountain market so shoppers have a better understanding of its price breakdown before the negotiation process.  

Learn More About TSRP & MSRP At Ken Garff Chevrolet

Now that you know more about what TSRP is and how it differs from MSRP, you’re ready to start shopping for your next Chevrolet at Ken Garff Chevrolet. Contact us online or by phone at (801) 980-2102 to schedule an appointment at our American Fork dealership, and our team will help you find a model that suits your lifestyle and budget. In the meantime, see how you can save on your next Chevrolet when you browse the rotating new vehicle specials at Ken Garff Chevrolet.