Lorenzo Cunningham has settled on purchasing a new Honda Accord and has found that the suggested retail price is $23,600 and that the dealer's invoice price is $21,500.It is time for him to go to a dealer and negotiate the price he will pay for his new car.What step in the purchasing process is Lorenzo carrying out?

Question

Quizplus · Accepted Answer

Lorenzo is in the step of determining the purchase price, as he already knows the suggested retail and dealer's invoice prices and is now going to negotiate the final price he will pay.

Lorenzo Cunningham Has Settled on Purchasing a New Honda Accord