There are more than 1.5 million households in America that currently own motorcycles. There are all kinds of reasons why someone might want to purchase a motorcycle. It may for the thrill, the flexibility, the cost, or just because it looks cool.
No matter your reason for buying a motorcycle, if you plan on buying a motorcycle from a dealer, you’ll have to do a little research beforehand. By following our tips for buying a motorcycle, you’ll be able to get the right bike for the right price.
Interested in learning more? If so, then continue reading and we’ll walk you through everything you need to know!
1. Get Insurance Quotes
For many people, they tend to mainly focus on the cost of the actual motorcycle and all of the gear and accessories that they’re going to get. However, you should never wait until you finally buy the bike to see how much your insurance is going to cost you.
If you’re financing a new motorcycle, then you’ll have to carry full coverage. And if you’re on the younger side, or you have some violations on your record, then things can get very expensive for you very quickly.
In order to keep your insurance costs down, there are a few things that you should consider. First, you should always shop around for competing quotes. Different companies will classify motorcycles differently.
You should also think about taking motorcycle safety classes. If you take and pass these courses, you could end up with a big insurance discount. Taking these classes will also help you learn more about motorcycle laws and accidents.
Lastly, you should take a look at lower displacement engines. That’s because smaller motorcycles tend to come with lower insurance rates.
With all that said, you can’t really shop around for quotes until you have an idea of what motorcycle you’re going to get. But this is where insurance can help you make a decision.
You may very well find yourself having to choose between two different motorcycles that cost roughly the same amount. This is when you should speak with insurance companies. Because even though those bikes have similar price tags, they may still come with very different rates.
2. Don’t Negotiate Any Price Other Than OTD
Many people tend to feel surprised and upset when they see all of the added costs that come with purchasing a motorcycle. There are many fees that you might have to pay that the dealer might not even have control over.
Because of this, you should just stick to talking about the out-the-door price (“OTD”) with the dealer. You shouldn’t worry about the MSRP when shopping for a motorcycle.
You also shouldn’t negotiate your monthly payments. Instead, try to figure out which OTD prices are going to give you the minimum and maximum monthly payments that you can handle.
You should also check out the interest rate. It’s best to come to the dealer with your own financing and give them a chance to try and beat it. Dealers tend to get kickbacks from financing banks, so they don’t always offer the best interest rates.
3. Browse the Motorcycles
So you’ve narrowed your list of possible motorcycles down to just a few. You’ve also researched your insurance and financing options. You’re basically ready to make a purchase.
Still, it’s never a bad idea to check out what your other motorcycle options are. Walking around the floor of a dealership can open your eyes to new styles, features, and motorcycles that you might not have considered before such as electric dirt bikes and scramblers.”
You shouldn’t be afraid to ask the salesperson if you can sit on the motorcycles. All of the research in the world be able to tell you if you’ll feel comfortable with the height of the footpegs and seat, the placement of the handlebars, etc.
This is also when you should ask any and all questions that come into your head. The salesperson is there to assist you, so don’t be shy.
4. Remember That the Dealer Is Trying to Make Money
While you may want to be a good and respectful customer, you need to remember that the salesperson’s goal is to make as much money as possible. If you’re confused about something, or something doesn’t sound right, then you should ask for further explanation.
Be wary around pushy salespeople. You should keep in mind that good deals do go away, especially for hot models. Still, salespeople will try to put pressure on people simply to close a deal.
If you’ve got a good deal on your hands but it’s going away soon, try to offer a refundable deposit. This will mean that no one else can buy the bike and you’ll have time to think it over.
You should also see if the manufacturer is offering any incentives to get a better understanding of what you’re paying for.
Know What to Consider When Buying a Motorcycle From a Dealer
When buying a motorcycle from a dealer, it’s important to do research beforehand and go in with a plan. When you do that, you’ll be able to make more educated and confident purchasing decisions.
And remember, you always have the ability to say no. You should never make a deal that you’re not comfortable with.
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