Tell the salesperson: "I've had a chance to do some research on this car, and according to Edmunds, it's selling for about $28,000. Say the salesperson had quoted you a price of $30,000, but the suggested price for the car is $28,000. If the car price is greater than the suggested price, mention the figure to the salesperson when you're countering an offer. The Edmunds Suggested Price is particularly useful when you use it in conjunction with a price quote from a dealer or when you're at the dealer to inquire about an auto you're interested in. Now that you know what the Edmunds Suggested Price is and where to find it, here are some tips to help you get a good deal. Edmunds Suggested Price for New Car Shopping These include manufacturer-to-consumer rebates (such as dealer cash), sales tax, DMV fees and dealer documentation ("doc") fees. This means it will not include incentives and fees that are typically applied after a transaction price has been determined. It estimates a vehicle's average transaction price, not its "out the door" cost. 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. You'll also see the Edmunds Suggested Price on the Edmunds app and mobile site, so you can check TMV pricing while you're on the car lot. That means negotiations will take less time and be more relaxed. Knowing this figure allows you to make an offer that a dealer will immediately recognize as reasonable. The Edmunds Suggested Price is essential information for you as an auto shopper because cars sell at very different prices depending on their availability and popularity. Used car appraisals will show different figures. It is important to get the details of the year, make, model and options right or you may get incorrect results that can lead to misunderstandings at the dealership. You'll also see the suggested price when browsing a specific piece of new car inventory. If you've configured a vehicle using this page or the "build and price" option, you'll see the Edmunds Suggested Price (formerly called True Market Value) along with two other key pieces of information: the invoice price of the auto (roughly what the dealer paid for it) and the manufacturer's suggested retail price (MSRP), which is also known as the sticker price. How to Use Edmunds Suggested Priceīy Ronald Montoya, Senior Consumer Advice Editor That said, some people may not be aware of this change, so we'll still reference it as TMV a few times on this page even though you won't see it elsewhere on Edmunds. While we loved the term Edmunds TMV, not everyone was familiar with it so we simplified the name. Recently, we've rebranded TMV as Edmunds Suggested Price for new vehicles and removed the naming for used car appraisals. Build & Price A Note about Edmunds True Market ValueĮdmunds True Market Value (TMV) is a pricing system that helps you determine the average transaction price - or what others are paying - for new or used vehicles in your area so that you can begin your negotiations with a fair price in mind.
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