GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Base Price


Synonyms:official price, retail price, stated value
Filed Under: automotive
Tags: automotive
 

Definition of base price

base price
1. The cost of a vehicle without any extra options such as power windows, air conditioning, etc. The base price simply includes standard equipment and the manufacturer's warranty.

Related Terms and Acronyms:

  • blue book   Formally, it refers to the Kelley Blue Book, an industry guide dealers use to estimate wholesale and retail vehicle pricing.
  • manufacturer's suggested retail price (MSRP)   Stands for Manufacturer's Suggested Retail Price. It represents the manufacturer's recommended selling price for a vehicle and each of its options.
  • options   Also known as add-ons. These are features added to the car often by the dealer such as a CD stereo, anti-theft system, detailing and undercoating. Some items are purely decorative, known as "mop and glow," and do not add any value to the car.
  • sticker price (MSRP, RRP)   This shows the base price, the manufacturer's installed options with the manufacturer's suggested retail price (MSRP), the manufacturer's destination charge and the fuel economy (mileage). It is the Monroney label affixed to the car window and is required by federal law. The label may not be removed by anyone other than the purchaser.

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