Looking to purchase a new motorcycle? Well what I would like to show you in this post is that many motorcycle buyers fail to realize that purchasing a motorcycle is much more than just the price of the new or used motorcycle itself.
What you as a motorcycle buyer really need to understand is that purchasing a motorcycle is really four separate transactions that are presented to you as one transaction. These four transactions are simply:
1. The price of your new or used motorcycle
2. The value of your old motorcycle
3. The accessories you purchase
4. The motorcycle financing
If you really think about it, purchasing a motorcycle is much more than the price of your new or used motorcycle purchase. All of the 4 areas above offer a unique opportunity for you to spend money. To ensure you get the best total deal on your motorcycle purchase you need to ensure you get the best possible deal in each of these four areas.
Here are some tips for you to use to ensure you get the best possible deal in each of these four areas.
1. The Motorcycle Price: Sure every motorcycle has a manufacturer suggest retail price (MSRP) or used value, but many times for different reasons motorcycle do not sell at or above this price. Motorcycles sometimes can and will sell below the MSRP or the used value. Therefore, you should not be concerned with MSRP, what you really want to know is the cheapest nationally advertised price.
The reason for this is that in every market there are below MSRP and used prices advertised for motorcycles. Once you find this price it provides you a guide to base your purchase decision on when you are ready to buy.
To find the lowest advertised price on the motorcycle model you are looking to purchase, check out local and national publications like cycle trader, penny saver or even online. Even if you can not find an advertisement for the particular model you are interested in you can most likely find the cheapest advertisement on other models and then contact this advertiser to find out their price on the model that interests you.
A little research can go a long way with saving you several hundreds of dollars on the purchase of your new or used motorcycle.
2. Value Of Your Old Motorcycle: Just as you will negotiate on the price of the new or used motorcycle you are purchasing, a buyer will negotiate with you on the value of your old motorcycle. Therefore, the more prepared you are before you sell your used motorcycle the higher the price you will get for it. To understand the value of your used motorcycle check Kelly Blue Book and recently expired auctions on Ebay.
3. Motorcycle Accessories: Knowing which accessories you will buy before you purchase your motorcycle can give you a sense of comfort. Would you pay $500 dollars for a motorcycle helmet if you could get it on sale for $425 ? Knowing what the best price you can get on accessories will help ensure you make the right purchase decision. It is recommend that you print out or bring advertised prices for the accessories you want. Having a hard copy with prices listed will help you compare prices and see if you are getting a fair deal.
4. Motorcycle Financing: Watch out for tricks from motorcycle lenders and banks with regards to your motorcycle loan. Sometimes motorcycle lenders will tell you that you do not qualify for the lowest rate because your credit score is to low. This may be true, but sometimes it is not. By having a copy of your free credit report and credit score as you are getting your motorcycle loan you will be much more able to challenge the interest rate you are asked to accept.
Secondly watch out for motorcycle lenders or banks that sell you payments. If this happens to you it should throw up a red flag to you about the motorcycle lender. Never think of your motorcycle purchase in the terms of payments. Always look at the true dollars you are spending (including interest costs on your motorcycle loan) and ask yourself if the true dollars is too much. Some of the national lender I highly recommend that are very creditable in motorcycle loans include Lending Tree, Eloan and Capital One. Shop them all and see who approves you for the best interest rate and go with that one.
I hope this help you see how a motorcycle purchase is much more than just getting the best price on a new motorcycle. The moral of the story is that doing a bit of research before your purchase can go a long way with saving you hundreds or even thousands of dollars on the purchase of your new motorcycle.
Posted by Administrator in Buying Tips