Tuesday, January 27, 2015

What is the difference between a Chevrolet LS, LT and LTZ?

Chevrolet uses LS, LT and LTZ to distinguish different trim types. For example, you might be interested in a 2015 Chevy Impala LT. The LT part of the title lets the customer know what type of trim package comes with the vehicle.

The most basic features come with the LS trim level. It is the standard package. The LS trim level is very nice, but you do not get all the extra bells and whistles. It is also the least expensive. LT has all the same features of the LS or upgrades of the LS plus additional features. For example, a LS most likely has cloth seats where as a LT may have leather seats. Upgrades in the trim package can be both interior and exterior, such as more technology on the inside and painted-aluminum wheels on the outside. LTZ has all the LT features plus additional ones. Some of the extra features might be lower body side chrome moldings, heated front seats, rear view mirror camera and push button start. LTZ is the high end trim level and the most expensive.

If you visit www.chevrolet.com, you can compare models side by side to see which features come with each. Also, the comparison will let you know if there is a feature that isn't standard for that trim level, but is available for you to add on.

Monday, January 19, 2015

What is MSRP?


Automotive dealers get in the habit of using acronyms or phrases that are common around the dealership, but may not be as common to a customer. One that is used quite often is MSRP. MSRP stands for Manufacturer Suggested Retail Price. It is the selling price that the manufacturer recommends you sell the product for. Therefore, this price stays the same no matter the location or store.

An advertisement might say, "$3,000 off MSRP" which means the vehicle is being sold for $3,000 less than normal. In other words, it is on sale for $3,000 off!

Another phrase typically used is Cash Back, Cash Allowance, Customer Cash or Bonus Cash. The manufacturer will offer a rebate or incentive to increase sales. Dealerships will offer this discount since the manufacturer provided it. Basically, the vehicle will get a dollar amount off. The dealership will take the discount off for you. An ad might show:

$23,000 MSRP
-$2,000 CASH BACK
-$500 BONUS CASH
$20,500 SELLING PRICE
$2,500 OFF MSRP!