When to Get the Best Deal on a Motorcycle
Want to get that special someone in your life a great Valentine's gift? Winter is the best time to buy a motorcycle. Prices on new motorcycles range between $2,799 to $110,000. Here is the information you need to score the best deal.
What Will You Use The Motorcycle For?
The type of riding you plan to do will have an impact on the size and type of bike you purchase.
Will you be using the motorcycle to commute to and from work? Do you plan to take weekend or vacation trips on the bike? Will it be driven primarily to cruise around town, on country highways, or expressways?
The way you plan to use your motorcycle will have an impact on the type and size of bike you need, as well as the accessories you will want to go with it.
What Size Engine Should I get?
Bikes come in a wide variety of sizes, styles, and price ranges. Know your budget is and what you are looking for. Are you an experienced rider or a newbie?
Having an idea of what you want on a motorcycle will make it easier when you walk in the door. This information gives the salesperson a starting point on what models to show you.
What size engine do you want? A 250cc may seem like a good choice for a newbie, but as you get more comfortable in your riding you will soon be looking to replace it with something larger.
A 500-800 cc is easily managed by a new rider and will give you room to improve your skills. The larger 1001cc to 1500cc bikes are better left to experienced riders. They are heavier to manage and their power may surprise newbies, making them harder to control.
According to the NHTSA motorcycles under 500cc have only a 6% fatality rate. Motorcycles that are 500cc to 1000cc have a 40% fatality rate, and those with engines 1001cc to 1500cc have a 30% fatality rate.
Do not let these statistics scare you. Buying a motorcycle that fits your skill level combined with a motorcycle course is the best plan. A motorcycle course will teach you how to be a safe rider and serve as your DMV driving test.
Other Considerations
The weight of the bike is a consideration. Newbies may think a lighter bike is easier to handle, but that is not necessarily true. Heavier bikes are easier to control in high winds. A bike with a lower center of gravity is easier to handle on the highway.
Seat height is important. You should be able to place both feet flat on the ground when stopped. Sit on the bike you are looking at to see if it is comfortable. If possible take it for a test ride.
Don't forget that in addition to the bike price you will need to obtain insurance, license plate, and riding gear. Make sure you are purchasing within your budget.
If a new bike is not financially feasible, consider purchasing a previously owned motorcycle. When purchasing a second-hand bike be sure to check the mileage, maintenance schedule, and tires. You may want to have a mechanic inspect the motorcycle prior to purchase to make sure there aren't any hidden problems.
When is the Best Time to Buy a Motorcycle?
In the cold winter months, people are not inclined to go shopping for motorcycles. There are a few months during the year when discounts may happen, but one month beats them all.
Best Discount Season
Discounts on both motorcycles and gear are likely in the run-up to Christmas. This is when people may be looking for the ultimate gift. In January dealers are looking to clear stock from their inventory and discounts may be offered.
The best time to buy a bike is February. There is a decreased consumer demand and it is a short month for sales quotas. This means steeper discounts and gives the buyer more negotiating power.
If you are trading in a used motorcycle, this is also the month when you may get a higher trade-in. Dealers are looking to increase their previously owned stock before the spring rush.
Alternate Buying Power Months
If you can't secure a purchase in those winter months, there are other options. Spring discounts on motorcycles are often offered. People are getting spring fever and dealers want to entice buyers before summer arrives.
Often buyers wait for their tax returns to arrive in March or April, making those prime selling months for dealers. When there are more buyers fewer deals are offered.
Many dealers end their fiscal year in June and want to clear out inventory beforehand. Another prime time is after the official quarterly release of sales results by the Federal Chamber of Automotive Industries. Motorcycles that are not doing well will likely have discount promotions.
If you have your eye on a particular brand or model, watch to see when the new models are being released. Discounts are likely to happen on the prior year's stock to clear out the showroom for new inventory. This usually happens in autumn or spring.
Promotion Awareness
Be aware that if you purchase a motorcycle and a few days later a manufacturer or distributor announces a nationwide discount, you may feel you should be able to recoup the price difference. According to the Choice for Fair Trade Certified Goods and the American Consumer Credit Counseling office, a consumer has no legal recourse.
Some promotions are planned months in advance, some are done at the last minute to move excess stock. Planning to purchase during a promotion should secure you the best price. Most reputable dealers will key potential buyers into upcoming promotions or answer honestly when asked.
Negotiating the Deal
Before walking into the dealership it is good to have an idea of the MSRP on the brand and model you are looking at. Motorcycles are not like cars, and there is not a lot of negotiating room.
Dealership Wiggle Room
On lesser expensive bikes there is only about a 4% to 7% margin for negotiating price. There is a bit more wiggle room on the larger, more expensive and powerful models.
A lot of dealers do not own the motorcycles on their showroom floor. They have a loan outstanding on those bikes. This is called the "on floor plan." To participate in this option dealers have to take both popular and unpopular models.
There is more buyer leverage when purchasing one of the less popular models. This does not mean it is a bad bike, it is just not one of the top sellers.
Be Flexible
You can get a good deal if you are not picky. The price will be lower if the new bike you are looking at is not the current model year. These are called leftovers and are priced to sell.
You may be able to work a deal on a color that has been sitting in the showroom for a while. Keep your eye out for bikes that are in the back corner or may be dusty from sitting for a period of time. The dealer may sell those at a loss to get them off the floor.
Do not walk out of a dealership if offered a great price - take it! Walking out doesn't rattle the cage of a motorcycle dealer, they are used to it. Be reasonable, negotiate a great deal.
Some bikes are produced in limited numbers and if you pass by the bike you want, it may be difficult to find at a different location.
Finalizing the Deal
Don't worry about the MSRP plus taxes and cost of prep. Talk out-the-door price. If you can't get the cost negotiated down, maybe the dealer will throw in a new helmet or the first service check-up.
Any incentives from the manufacturer or promises for future service should be put into writing on the bill of sale.
Bring your own pre-approved financing with you. Give the dealer an opportunity to see if they can beat what you have. Some dealers get kickbacks from banks on financing, which means the financing they offer may be at a higher interest rate.
You're Not Just Buying A Motorcycle
The purchase of a motorcycle differs from that of a car. You aren't just buying a motorcycle, you are choosing a motorcycle dealer. You want to make sure where you purchase offers good service, good inventory, and friendly, knowledgeable staff. They may not be the cheapest, but probably the best value.
Once the riding bug hits, motorcyclists are always on the lookout for new bike accessories. Whether they are replacing something they have or adding to the bike, they are frequently back at their dealership looking for a good deal.
Motorcycle gear is another item that most dealers carry. A helmet, leather boots, leather motorcycle jacket and gloves are the basics. As you grow as a rider you will likely add a leather vest, chaps, and rain gear.
While riding gear can be purchased in a variety of places, your own dealership is a great place to get started with the must-haves.
Hit the Open Road
Those who love to ride know the freedom of being on two wheels with the wind blowing in your face. There is nothing like the feeling of freedom with nothing between you and the open road.
Now is the best time to buy a motorcycle. Visit a reputable dealer to see what they have to offer.
