Lorenzo Clowder has settled on purchasing a new Honda Accord and has found that the suggested retail price is $22,200 and that the dealer's invoice price is $19,980.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 determining the purchase price by researching the suggested retail price and dealer's invoice price, and negotiating with the dealer. This is the step in the purchasing process where the final price is agreed upon.

Lorenzo Clowder Has Settled on Purchasing a New Honda Accord