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Re-Negotiate Sales price(Vehicle)
Buddies
Registered User regular
Registered User regular
So I decided to buy a Motorcycle. I had one before, bought it brand new and had it for a year and sold it. It's been about 6 months and I wanted another one. So I went out and started looking.
Went to a Dealer and they had an used 08 with 12k miles on it. It looked and sounded in great condition. I liked it, felt comfy to sit on and after thinking about it over lunch I decided I would like to have it. We settled on a sales price of $7,900. It has a few aftermarket things done to it like a full exhaust system(~$800-$1000) custom windscreen and fender eliminator from what I can remember off the top of my head. I signed papers saying I would buy it for that price and started the DMV registration crap.
I was getting insurance for it today when my Insurance lady told me that they also would finance the bike if I wanted. I said sure put an app in can't hurt. They came back and said based on the value of the bike they would cut me a check for $5700. Thats almost a 30% difference. Granted it doesn't take into consideration the aftermarket parts, but still even with those we are looking at a $1000 difference.
I haven't signed any of the finance information yet. Going in there today to do that and pick up the bike. But in light of the new discovery, needless to say i'm a little apprehensive about shelling out an extra 1K. Is it possible to get them to knock off some more money after I signed those initial papers?
Went to a Dealer and they had an used 08 with 12k miles on it. It looked and sounded in great condition. I liked it, felt comfy to sit on and after thinking about it over lunch I decided I would like to have it. We settled on a sales price of $7,900. It has a few aftermarket things done to it like a full exhaust system(~$800-$1000) custom windscreen and fender eliminator from what I can remember off the top of my head. I signed papers saying I would buy it for that price and started the DMV registration crap.
I was getting insurance for it today when my Insurance lady told me that they also would finance the bike if I wanted. I said sure put an app in can't hurt. They came back and said based on the value of the bike they would cut me a check for $5700. Thats almost a 30% difference. Granted it doesn't take into consideration the aftermarket parts, but still even with those we are looking at a $1000 difference.
I haven't signed any of the finance information yet. Going in there today to do that and pick up the bike. But in light of the new discovery, needless to say i'm a little apprehensive about shelling out an extra 1K. Is it possible to get them to knock off some more money after I signed those initial papers?
Buddies on
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Can trade TF2 items or whatever else you're interested in. PM me.
It's just that they were the only ones that said the bike is only worth 5700. The others were like "yea, okay thats cool". Dunno if them insuring it also had an influence in their decision(if it were stolen or wrecked, they would be out 5000 instead of 7000).
If you're asking if the dealership is going to give you a lower price than you signed for, rather than telling you to get lost and selling the bike to someone else willing to pay their price, then that entirely depends on how desperate they are to sell the bike.
Also, if you've already made a deposit on the bike they are probably entitled to keep it as damages if you decide to back out of the sale.
Opinion on that?
You're talking about trying to knock $1000 off the price of a $8000 transaction after you agreed on a price. While it's fine and dandy to play hardball before you've signed anything, you're crossing firmly into the realm of making a dick move here.
The question you should be asking yourself, regardless of the valuation, is:
Do I like this bike enough to spend $8000 on it?
If yes - go buy it, ride it, and enjoy it.
If no - you should probably bail on the deal and be prepared to eat your deposit.
Can trade TF2 items or whatever else you're interested in. PM me.
I wonder if motorcycles are often financed at higher rates than cars, because that is not a great rate for a vehicle loan.
Just because your insurance company said they'd give you a loan for $5700 doesn't necessarily mean that's a realistic price to pay for that bike. Being an insurance company, they could be using the same system they do for an initial offer on a total loss to determine the loan they give you.
Forget all that, though, because when you're buying anything that could be considered a big purchase you should do your homework first. That includes checking what is available for what price so you have an idea what is a reasonable offer for a specific item.
Whether you decide to buy the bike at this point, they'll likely be able to keep your deposit. So, now, if you're concerned about getting your best deal, you need to research whats available and determine if the price of another bike plus the deposit your losing is less expensive than buying this bike. Also, if you're the type to add on things like what has been added to this bike, take that into account too.
Really? Unless cycle dealerships operate significantly differently than automobile dealerships, hurting some car salesman's feelings would be the least of my concerns when buying a vehicle.
I really, really hope the OP didn't give the dealership any money without first agreeing to a price. Buddies, I cannot recommend strongly enough that you NOT go any further with this sale until you learn a bit more about how dealerships work. Pay particular attention to articles describing the scams that dealerships run.
They did agree on a price.
Oops, I mis-typed. The "agreeing to a price" bit should have been "signing financial paperwork to establish what the down payment will be".