TSRP vs. MSRP: What’s the Difference When Buying a New Honda?
MSRP is the manufacturer’s suggested retail price, while TSRP generally includes MSRP plus destination and handling. To compare offers accurately, request an itemized out-the-door price.
When shopping for a new Honda, you may notice two pricing terms on vehicle listings and window stickers: MSRP and TSRP. Ready to start shopping? Explore our new Honda inventory to see the latest models available at Eskridge Honda. Although the terms are closely related, understanding the difference can help you compare vehicles, evaluate advertised prices, and make a more informed purchasing decision.
At Eskridge Honda in Oklahoma City, we want our customers to understand vehicle pricing before they visit the dealership. This guide explains what MSRP and TSRP mean, how they differ, and what you should know when shopping for your next Honda.
What Is MSRP?
MSRP stands for Manufacturer’s Suggested Retail Price. It is the price Honda recommends for a particular vehicle before certain additional charges and pricing adjustments.
The MSRP varies depending on the Honda model, trim level, factory-installed equipment, and available options. For example, a Honda Civic LX will have a different MSRP than a Civic Sport Touring, just as a Honda CR-V LX will have a different MSRP than a more extensively equipped CR-V trim.
MSRP gives shoppers a useful starting point for comparing vehicles with different features and equipment.
However, MSRP does not always represent the complete suggested price of a vehicle. Depending on how the price is presented, destination and handling charges, factory-installed options, and other equipment may be listed separately.
What Does MSRP Include?
The items included in a vehicle’s MSRP can depend on how the manufacturer presents its pricing information. Generally, MSRP identifies the manufacturer’s suggested price for the vehicle and its specified configuration.
When reviewing a new Honda, pay attention to:
- Base vehicle price: The suggested price for the selected model and trim.
- Factory-installed options: Equipment or packages that may increase the vehicle’s price.
- Destination and handling: The charge associated with transporting the vehicle to the dealership, which may be listed separately from MSRP.
- Additional charges: Taxes, title, registration, and applicable dealership fees that may not be included in the MSRP.
Reviewing the vehicle’s window sticker can help you understand how these amounts contribute to the total suggested price.
What Is TSRP?
TSRP stands for Total Suggested Retail Price. Honda uses TSRP in its vehicle pricing information to provide a more complete suggested price than the base MSRP alone.
For Honda models that display both figures, TSRP generally includes the MSRP and destination charge. Depending on the vehicle, factory-installed options and other applicable pricing components may also affect the total.
TSRP is useful because it helps shoppers understand the suggested price of a vehicle with its applicable equipment and destination charge accounted for.
However, TSRP is not necessarily the final amount you will pay. Taxes, title, registration, applicable dealership fees, optional accessories, and any dealer pricing adjustments may affect the final purchase price.
What Does TSRP Include?
The exact components of TSRP can vary based on the specific vehicle and how Honda presents its pricing. In general, TSRP incorporates the vehicle’s MSRP and destination charge.
Example: Honda MSRP vs. TSRP
- Honda’s published pricing for the 2027 Honda Passport RTL lists an MSRP of $45,195 and a TSRP of $46,790. The $1,595 difference represents the destination charge.
- Honda defines MSRP as excluding destination, taxes, license, registration, and certain other charges. TSRP includes MSRP and destination, while taxes, license, registration, premium paint charges, and dealer-installed accessories may be additional.
In this example, the TSRP is higher than the MSRP because it includes the destination and handling charge.
These figures are for illustration only and do not represent the price of a specific Honda model. Actual pricing varies by model, trim, equipment, and model year.
When shopping for a new Honda, check the vehicle’s window sticker and pricing details to confirm which charges and options are included.
TSRP vs. MSRP: What’s the Difference?
The main difference between TSRP and MSRP is that TSRP generally includes the destination charge in addition to the manufacturer’s suggested retail price.
MSRP provides a baseline for the vehicle’s suggested price, while TSRP gives shoppers a more complete suggested price that accounts for destination and applicable equipment.
Here’s a simple comparison:
| Feature | MSRP | TSRP |
|---|---|---|
| Full name | Manufacturer’s Suggested Retail Price | Total Suggested Retail Price |
| Primary purpose | Shows the manufacturer’s suggested vehicle price | Provides a more complete suggested vehicle price |
| Destination charge | May be listed separately | Generally included |
| Factory-installed options | May be reflected in the vehicle’s configuration or listed separately | May be reflected in the total, depending on the vehicle |
| Taxes and registration | Generally excluded | Generally excluded |
| Final purchase price | Not necessarily | Not necessarily |
The most important thing to remember is that MSRP and TSRP are related pricing figures, but they are not always interchangeable.
When comparing two Honda vehicles, make sure you are comparing equivalent pricing information. Comparing one vehicle’s base MSRP with another vehicle’s TSRP can give you an inaccurate impression of the difference in price.
Why Is TSRP Higher Than MSRP?
TSRP is often higher than MSRP because it generally includes the destination and handling charge.
This charge accounts for transporting the vehicle from the manufacturer to the dealership. Because it is commonly shown separately from MSRP, the two figures may differ even when they refer to the same vehicle.
Other differences can result from factory-installed equipment, packages, or the way pricing information is presented.
If you see two different prices for the same Honda, check the window sticker and the accompanying pricing details before assuming that one price is incorrect.
Is TSRP the Price You Actually Pay for a Honda?
Not necessarily. TSRP is a suggested retail price, not automatically the final purchase price.
The actual amount you pay may depend on the dealership’s selling price, available offers, applicable incentives, optional accessories, taxes, title, registration, and other fees.
A dealership may advertise a vehicle at a price below TSRP, at TSRP, or at a different price depending on the vehicle and market conditions.
To understand the complete cost, ask for an itemized purchase quote that identifies the vehicle’s selling price, applicable discounts, additional charges, and total amount due.
This allows you to compare offers more accurately and understand the details behind an advertised price.
Can You Buy a Honda for Less Than TSRP?
In some circumstances, a dealership may offer a new Honda for less than its TSRP. The availability of discounts depends on factors such as the model, trim level, vehicle availability, current market conditions, and applicable offers.
Manufacturer incentives may also affect the price for qualifying buyers. Some offers have eligibility requirements, expiration dates, or restrictions based on the model or financing arrangement. Check our current Honda specials and offers to see which promotions may be available on eligible vehicles.
When evaluating an advertised price, review the offer’s terms and confirm whether additional charges or optional products apply.
A clear understanding of TSRP gives you a helpful starting point, but the actual selling price and complete purchase terms are what ultimately matter.
How to Compare Honda Prices at Different Dealerships
If you are shopping for a new Honda in Oklahoma City, comparing prices can help you determine which vehicle and offer best fit your needs.
Use these steps to make an accurate comparison:
- Compare the same model and trim. A Honda Civic Sport and a Civic Sport Touring may have substantially different equipment and suggested prices.
- Confirm the model year and drivetrain. Make sure you are comparing vehicles with equivalent specifications.
- Review the window sticker. Check the MSRP, destination charge, factory-installed options, and displayed TSRP.
- Compare the actual selling price. Ask whether the advertised price reflects discounts or incentives and whether you qualify for them.
- Review additional charges. Ask about dealership fees, accessories, taxes, title, and registration.
- Request an itemized purchase quote. This helps you understand the total cost rather than relying on a single advertised number.
These steps can help you compare similar Honda vehicles on an equal basis and avoid confusion caused by different pricing labels.
Understanding Honda Pricing Before You Buy
Knowing the difference between TSRP and MSRP can make the vehicle-shopping process easier. MSRP provides the manufacturer’s suggested vehicle price, while TSRP generally includes the destination charge and provides a more complete suggested price.
Neither figure automatically represents the final purchase price. The vehicle’s actual selling price, available offers, and applicable charges all contribute to the final transaction.
Whether you’re considering a Honda Civic for your daily commute, a Honda Accord, a versatile Honda CR-V, or a spacious Honda Pilot, understanding the pricing information can help you shop with greater confidence.
At Eskridge Honda, we want Oklahoma City drivers to have the information they need to compare vehicles and make decisions that fit their needs and budgets.
Frequently Asked Questions About TSRP and MSRP
What does TSRP stand for?
TSRP stands for Total Suggested Retail Price. Honda uses the term to describe a suggested vehicle price that generally includes MSRP and the destination charge.
What does MSRP stand for?
MSRP stands for Manufacturer’s Suggested Retail Price. It is the price the manufacturer recommends for a particular vehicle and configuration.
Is TSRP the same as MSRP?
No. MSRP identifies the manufacturer’s suggested retail price, while TSRP generally includes the destination charge in addition to MSRP. The exact pricing components should be confirmed on the vehicle’s window sticker.
Why is TSRP more expensive than MSRP?
TSRP is often higher because it generally includes the destination and handling charge, which may be listed separately from MSRP. Vehicle options and other applicable pricing components may also affect the figures.
Does TSRP include destination and handling?
Honda’s published TSRP generally includes the destination and handling charge. Check the specific vehicle’s pricing information to confirm the included components.
Does TSRP include taxes and registration?
Generally, no. Taxes, title, registration, and applicable dealership fees may be additional. Request an itemized purchase quote to understand the complete cost.
Can I negotiate the price of a Honda below TSRP?
Depending on the vehicle, market conditions, dealership pricing, and available offers, a Honda may be available for less than TSRP. Ask the dealership about its current selling price and any applicable incentives.
Should I compare MSRP or TSRP when shopping for a Honda?
Both figures can be useful, but make sure you compare equivalent pricing information. TSRP generally provides a more complete suggested vehicle price by accounting for destination and handling. To compare actual offers, review the selling price and all applicable charges.
Shop New Honda Vehicles at Eskridge Honda
Now that you understand TSRP vs. MSRP, you can approach your next vehicle purchase with a clearer understanding of Honda pricing.
Explore the latest Honda models at Eskridge Honda in Oklahoma City, compare available vehicles, and ask our team about current pricing and offers.
Ready to find your next Honda? Browse our new Honda inventory or contact Eskridge Honda to learn more about available vehicles and their pricing.
Vehicle pricing, offers, and availability are subject to change. Advertised prices may have eligibility requirements. Taxes, title, registration, applicable dealership fees, and optional equipment may be additional. Confirm the complete purchase price with the dealership before completing your transaction.