Buying a new car is sometimes a confusing process, so it is very important to learn how to buy a new car. One of the parts to effectively purchase a new car is knowing some terms commonly used by the dealer.
Base Price – the cost of the car without options. Base price usually includes the factory warranty and standard equipment. It should be shown on the Munroney sticker.
Invoice Price – the price the manufacturer has charged the car dealer for the vehicle. Taking into consideration the allowances, discounts, incentives and rebates, this is often a higher price than the dealers final cost. Destination and delivery are also included in the invoice price. One of the most common dealer tricks is charging car buyers twice for delivery, so be careful.
Munroney Sticker Price (MSRP) – the sticker shown on the side window. The MSRP is required by federal law and includes the base price, manufacturer options, the cars EPA gas mileage and manufacturers transportation charge.
Dealer Sticker Price – the MSRP plus the suggested retail price of dealer installed options like, additional dealer profit (ADP), dealer preparation, undercoating, and additional dealer markup (ADM).
Is it legal in minnesota for a dealer to tell you the moroney sticker on a used car is wrong and instead of the sticker price 18,000 say it was an honest mistake and it is 21,000! And can they by law remove the moroney sticker in front of us…?
Thank you,
Bev
Unfortunately I am not sure of Minnesota law specifically but if it was an honest mistake on the spot then it does not sound like it’s illegal. But check with a local attorney regarding local rules. Thank you.