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Buying Process: |
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Understand what you want and talk to the salesperson
about several different bikes that meet your needs. Find out the dealer invoice
price. Use AutoIndia.com online service to obtain a report on each bike. The
dealer will do his best to make 10% total profit on the motorcycle. Most common
dealer fees are destination charges, documentation fees, and taxes. There is no
easy way to find out their profit margin on these items but it should be
between 5% - 15%.
The salesperson will also try to sell you extras, for example, an extended
warranty and accessories. The dealer makes a little on these too. These are
specifically choice-driven. If you want it, you buy it.
If you've decided on a bike and you've done your homework, you'll be ready to
negotiate. A dealer wants to make about 5 to 10% profit on each deal. This
means you may be able to talk them down substantially.
Most dealers like cash deals. If you cannot pay cash, try to put down a big
chunk of change. If financing, the larger the down payment, the less the
monthly payments and the less interest you will pay. Get a pre-approved loan
from a finance institution so financing will not be a consideration. Often
dealers will have low-percentage loans available for certain models. These
deals may influence your decision.
As for getting the most for your current bike, your best move is to sell it
privately rather than using it as a trade-in. Try to sell it before you buy the
new bike.
Play hardball with the salesperson. The dealer wants to work with you. If they
work with you, give them your other business such as apparel, repairs, and
accessories.
After the deal is nearly done, you can almost always get them to sweeten it. A
helmet or jacket can possibly be thrown in since the salesperson has spent a
lot of time and doesn't want to lose the sale. |
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