thanks Joe, I forgot about maranello ducati. Every time I'm in that nieghborhood somebody says" Forgettaboutt it" so I did.....
Buying motorcycle at dealership
- Thread starter b16bvtec
- Start date
From a business standpoint, cash cost them money to deposit and anything over $10,000, they have protocols to follow to prove anti money laundry.
Ever wonder why Walmart and other large business ask if you want cash back? It's cheaper and faster to take electronic payment.
As mentioned, banks pay for loan leads and manufacturers will even buy down the interest rate so they can advertise lower rates than the banks themselves offer.
The inventory on the floor is costing the business money the longer it sits. Slow moving models and models with more options/add ons will be the ones they want to deal on.
If it's high volume and popular models, they won't move much and don't mind if you walk.
Not that they want customers to walk but, even if someone comes in and offers $500 under sticker on a popular model, unless your buying something else to help make up the loss, they won't be too eager. Like extended warranty/maintenance packages or other stuff like that.
Cash does show serious intentions for sure. And that makes the dealer typically willing to work with you.
And ask about financing and demanding the lowest pricing, they may consider you a dreamer and let move onto the next.
There might have been a time when a cash offer off the books might have got you a deal but, everything is accounted for and tracked so, those cash sales don't have the same appeal as the folks selling swag at a flea market.
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samurai
Well-known member
What he said. If you happen to buy leftover new models from last year or the year before, you may be able to save some money depending on the dealer margin. On a current year bike I don’t think you can save anything (maybe $100-$200). There is not much room for the dealer there so they can’t do much unless they are looking to go bankrupt.
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not sure about there motorcycle dealership. but I also drive a bmw which I was once service at that bmw dealership. worst experience EVER ! NEVER want to deal with this so call maranello bs even if they have the cheapest price in the market!people should not go there! worst than walmart !
Different dealerships. Owned by the same company.
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Hack
Well-known member
The dealer I bought my bike from... I liked.
No BS.
They didn't have the bike I wanted in stock... 'Said they could have one in 10 days or so... Had to come from Vancouver...
I left a $1k deposit and picked up the machine a couple weeks later.
This was a mid season purchase... They knocked $500 off the already lower than msrp price and didn't charge for PDI.
'Talking to the owner... He revealed that they waste a lot of time with some customers.... People who apply for credit knowing they probably won't qualify mostly. Those people pay PDI etc.
With a weekday morning walk in no hassle cash sale... They don't bother with PDI fees...
J_F
Guest
I think you have a lot of potential to become an important member here
referring to people you know nothing about, or their situation, as idiots
you really ought to step up your game a bit though
OP has only owned 2 R6's
he may not be ready to step up to a Panigale yet
you should really think about telling him he's an idiot for that too
do you ride a V-strom by any chance?
that sounds a lot like every shop owners dream, guy comes in knowing what he wants, bangs out a deal he can live with and later goes home happy. Can you only imagine how many credit apps get filled out that should just burst into flames, or guy/gals that could never cover the insurance tab could they buy a bike? Would be interesting to have a salesman reveal the ratio of kickers vs. closers on shoppers.
Dunno about that. Saw someone pay for a Mercedes Benz with cash at the Markham dealership. And not one of the cheap C Classes either. They were counting off hundred dollar bills in tall piles on the table.
Damn! I thought I closed the door behind me.
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You can't buy one with a credit card I found out. Then again the place went out of business a couple of years later. I set up the deal at the Motorcycle show, and didn't want to walk in with a wad of cash. Fortunately, banks are open on weekends now.
You should pick up a V-Strom too.
You should pick up a V-Strom too.
You can't buy one with a credit card I found out. Then again the place went out of business a couple of years later. I set up the deal at the Motorcycle show, and didn't want to walk in with a wad of cash. Fortunately, banks are open on weekends now.
You should pick up a V-Strom too.
Actually you can and I have at a dealer, with a credit card. I was wandering around the showroom and had expressed interest in a particular bike, the salesman being quite cavalier said " lets get this done, pull out your visa card and be a player today" so I did. He said I can take a deposit on a CC but not a whole bike. I mentioned it was your offer to whip out my visa and be a player, what are your words worth? He said I'll have to talk to my boss...twenty minutes later I bought a bike.
Backwards.
Dealers can make more on the financing than they do on the bike. You are comparing two different things. Cash is better for you.....finance is better for the dealer. If you finance through the bank they make a reserve that can be as much as the profit on the bike. AND they have a reason to give you a shout (if they are smart) when they know you are in a positive position on the trade value. Feel free to try this in practice. Go in and offer them cash for a bike and get them to work out a price. Then ask if they'll finance the same amount. What do you think their answer would be?
bigpoppa
Well-known member
Except banks don't like financing bikes,
a toy, that is the first thing to go when **** hits the proverbial fan,
and a toy that is likely to get damaged/completely destroyed in all likelihood during the repayment term
they are also harder to recoup the cost of, in event of a repossession, since hardly anyone rides motorcycles, whereas almost everyone either drives a car, and or owns a house(seen the GTA housing market in the last 5-10 years?)
Thats why virtually anyone can get cars financed, heck even a mortgage(subprime lenders etc etc), but in order for a bike to be financed, one has to be literally the perfect candidate. (too little debt = denied, too much debt = denied. etc etc)
(There are exceptions to this, for instance if the manufac. has their own financing company, or their own consumer loan company, in which case they are much more likely to approve you regardless of credit(provided you put down a larger downpayment etc etc) for financing since you are essentially moving and buying their product. Honda, BMW, Harley, Yamaha now do this)
So cash is still king
a toy, that is the first thing to go when **** hits the proverbial fan,
and a toy that is likely to get damaged/completely destroyed in all likelihood during the repayment term
they are also harder to recoup the cost of, in event of a repossession, since hardly anyone rides motorcycles, whereas almost everyone either drives a car, and or owns a house(seen the GTA housing market in the last 5-10 years?)
Thats why virtually anyone can get cars financed, heck even a mortgage(subprime lenders etc etc), but in order for a bike to be financed, one has to be literally the perfect candidate. (too little debt = denied, too much debt = denied. etc etc)
(There are exceptions to this, for instance if the manufac. has their own financing company, or their own consumer loan company, in which case they are much more likely to approve you regardless of credit(provided you put down a larger downpayment etc etc) for financing since you are essentially moving and buying their product. Honda, BMW, Harley, Yamaha now do this)
So cash is still king
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Face
Well-known member
But if the full price is within your limit and you've got the cash in your account to pay off your CC before they start charging you interest, it makes for a good negotiating strategy. Tell them you want the points/cash back/what ever promotion your card has and see what they will do. I'd only use this if they weren't offering much movement on anything else. If they're treating you fair, no point with a hardball move like this.
A vendor is not allowed to negoiate a deal around visa or MC, its a big violation of the vendor agreement and if ever found out they get tossed by the credit card company. Cant say it never happens but its pretty big risk on thier part.
I'd venture most retailers are giving visa m/c 3-5% unless your a monster like walmart/amazon.
I'm very happy to take my 2% cash back, or the air miles on the other card when allowed to use it. Timing a purchase and getting 45 days to pay is like sport around here, the .0000354% interest in my bank account sure isnt changing the world but I feel better.
I'd venture most retailers are giving visa m/c 3-5% unless your a monster like walmart/amazon.
I'm very happy to take my 2% cash back, or the air miles on the other card when allowed to use it. Timing a purchase and getting 45 days to pay is like sport around here, the .0000354% interest in my bank account sure isnt changing the world but I feel better.
I financed my bike through my bank but there again I'm very persuasive. I'm also not a risk in any category to my knowledge. As for not getting a bike if you can't pay cash....meh....I understand I'm paying extra for the financing and don't have a massive nest egg and can easily afford payments.
