How To Get The Best Price When Buying A Motorcycle-The Art Of Negotiation
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Gregg Hall
Gregg Hall is a business consultant to many online and offline businesses and has been involved in the fitness and nutrition field for over 25 years. Get healthy food delivered to you. By Gregg Hall
Published on 18 February 2009
I know you may have been looking at that bike for months but you have to avoid looking like you just have to have it. Unless you have saved a ton of cash you will probably be financing as well so not only do we want the lowest price, but also the shortest term, and the lowest payments and interest.
A lot of people want a new motorcycle but they don't stop to negotiate the best price. You never want to let those who are selling no how bad you want it. I know you may have been looking at that bike for months but you have to avoid looking like you just have to have it. Unless you have saved a ton of cash you will probably be financing as well so not only do we want the lowest price, but also the shortest term, and the lowest payments and interest.
For most of us a bike is a long term decision, you will probably keep it for years so take your time and get the one you want at the price you want to pay. If you are set on a particular model and it is out of your reach monetarily then save more money until you can get what you want. I don't recommend just settling for what you can get, you won't be satisfied.
The way to begin the process is to ascertain the retail price of the bike you want. This can easily be done online just by going to the website of the manufacturer from whom you wish to buy. You can probably expect a local dealer to charge 20-25% above the base list price to cover deliver and doc fees as well as profit. Also don't be pressured into an extended warranty unless you feel you really need it.
One of the benefits of buying from a dealer is that you can usually trade in an older bike if you have one. This can benefit you sometimes but just like with the pricing and financing, you need to do your research so that you know what your motorcycle is truly worth. Before going to the dealer make sure you know what the book value of your bike is. You also need your payoff information if you still owe money on it. Sometimes it will make more sense to try to sell it to a private party instead of trading.
As mentioned above, the finance rate and terms are very big factors to consider when buying a motorcycle. My advice would be to get preapproved before you even go looking, that way you know upfront what kind of rate and terms you can get and if the dealer can do better then that's great. Sometimes dealers can get better rates just because of the volume that they do.
So, do your research and compare pricing online and at multiple dealers so that you know you are getting the best possible deal when you do finally bite the bullet and sign on the dotted line for the bike of your dreams.
For most of us a bike is a long term decision, you will probably keep it for years so take your time and get the one you want at the price you want to pay. If you are set on a particular model and it is out of your reach monetarily then save more money until you can get what you want. I don't recommend just settling for what you can get, you won't be satisfied.
The way to begin the process is to ascertain the retail price of the bike you want. This can easily be done online just by going to the website of the manufacturer from whom you wish to buy. You can probably expect a local dealer to charge 20-25% above the base list price to cover deliver and doc fees as well as profit. Also don't be pressured into an extended warranty unless you feel you really need it.
One of the benefits of buying from a dealer is that you can usually trade in an older bike if you have one. This can benefit you sometimes but just like with the pricing and financing, you need to do your research so that you know what your motorcycle is truly worth. Before going to the dealer make sure you know what the book value of your bike is. You also need your payoff information if you still owe money on it. Sometimes it will make more sense to try to sell it to a private party instead of trading.
As mentioned above, the finance rate and terms are very big factors to consider when buying a motorcycle. My advice would be to get preapproved before you even go looking, that way you know upfront what kind of rate and terms you can get and if the dealer can do better then that's great. Sometimes dealers can get better rates just because of the volume that they do.
So, do your research and compare pricing online and at multiple dealers so that you know you are getting the best possible deal when you do finally bite the bullet and sign on the dotted line for the bike of your dreams.