What is the term for the final price agreed upon between the seller and buyer for a vehicle?

The term for the final price agreed upon between the seller and buyer for a vehicle is referred to as the negotiated price. This price represents the outcome of discussions and bargaining between the two parties, reflecting the specific terms and conditions they have collectively accepted. The negotiation process is crucial as it encompasses various factors such as the vehicle's value, the needs and motivations of both the buyer and the seller, and any situational dynamics at play during the transaction.

The negotiated price is distinct from other pricing terms like the asking price, which is the initial price a seller hopes to receive, or the retail price, which typically reflects the manufacturer's suggested price for the vehicle without adjustments from personal negotiations. The market price can also fluctuate based on demand and supply dynamics but does not directly reflect the outcome of individual negotiations. Therefore, focusing on the negotiated price encapsulates the essence of the final agreement reached through discussion and compromise between buyer and seller.