Car Loan Glossary basics

In Canadian car loans, the MSRP (Manufacturer's Suggested Retail Price) represents only the base vehicle price and factory-installed options, serving as a preliminary figure that significantly excludes many mandatory charges. The 'Out-The-Door' (OTD) price, conversely, is the comprehensive, final amount you will actually finance or pay to drive the vehicle off the lot. This crucial figure encompasses the MSRP plus non-negotiable costs like freight and pre-delivery inspection (PDI), dealer administration fees, provincial tire levies, and federal air conditioning taxes. Critically, the OTD price also includes all applicable
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