Top 7 Tips to Become A Clever Motorcycle Shopper
1. Know How Much You Can Afford
Today with advanced technology like titanium valves motorcycles are becoming more and more expensive. Sure you may really want a $20,000 Ducati, but if you can not afford it then it makes little sense to stretch yourself. Not knowing how much you can afford is the foundation to making a very bad decision when you get in a dealership and are under pressure. Smart motorcycle shoppers enter the dealership with a maximum price they will pay and you should do the same.
2. Research, Research and More Research
With the power of the internet, it is easy to research products before you start shopping dealers. Purchasing a motorcycle is a big decision so you should gather all the information possible to make your purchase decision. Review consumer publications, buying guides, consumer motorcycle shows and even hang out in online forums to gather information about the motorcycle model you want to purchase. You will be surprise all of the things you can learn to help ensure you purchase the bike that is right for you.
3. Know Your Credit
Reviewing your credit report before you enter a dealership will let you see what creditors see while allowing you to correct errors on your credit report before you submit an application.
4. Visit Multiple Dealers and Comparison Shop
A great place to start shopping for the lowest price on a motorcycle is to check out the local Cycle Trader publication. Most dealers advertise in Cycle Trader and this can help you narrow down which dealers you will visit. When visiting dealers don’t only get a price quote on the bike. Make sure you compare the motorcycle financing interest rates, extended warranty costs, gap insurance costs and the cost of pre-paid maintenance. These are all items you may choose to purchase with your new motorcycle. The cost of each item can vary from dealer to dealer.
5. Educate Yourself on Terminology
Ensure you are familiar with common terms such as annual percentage rate, installment financing, credit card financing, down payment, extended warranty, Gap insurance, etc. Our financing glossary is a great place to start.
6. Avoid Dealers That Give You a Bad Vibe
As you are shopping for your new bike you will find some dealers give you a good vibe while other are not so good. If you get a bad vibe at a dealer follow your instinct and don’t buy at that dealer.
7. Negotiate Your Best Offer
Once you find the best dealer do not hesitate to negotiate the best offer. Dealers normally get manufacturer incentives and have room to negotiate. In negotiating remain calm and take your time to get the price you want. Also don’t just negotiate on the price of the bike. Make sure you negotiate for extended warranty, accessories, future services etc..