It is important to consider your decision carefully when buying a motorcycle, the same way you would do while making any other major investment. Furthermore, it is important to choose your motorcycle dealership to avoid getting a raw deal. You need to understand that a motorcycle dealer is out to maximize on profits, with some using every crooked means to get the most from the deal. Therefore, before visiting a dealership, it is advisable to shop around and perform a background check on several dealers you may wish to engage. The tips for buying a motorcycle include:
The advertised prices are often the starting price. Therefore, before signing any contract, it is advisable to know what you will be paying for getting the motorcycle delivered at your doorstep. It is not uncommon for dealers to include various hidden costs, including the delivery fee, to increase the profit margins.
· Retail market value
If you are interested in buying a used motorcycle, find out the ‘market retail value’ and ‘trade-in value’ because they are normally different. This should be done before heading to the dealership. Avoid taking the dealer’s word about the worth of the bike. Furthermore, consider doing the research yourself by consulting the motorcycle blue book.
· Financing options
Most dealers offer several financing options for willing buyers who are experiencing challenges acquiring a bike. The loan is often arranged and the contract is signed in the dealer’s office. However, in several instances the loan facilitated by the dealer is not always the best. The interest is usually much higher because it factors in the lender’s referral fee. Therefore, if you have a good credit score, it is advisable to consider shopping around to find a financing option on your terms.
· Terms of warranty
It is very important to know the motorcycle’s terms of warranty before signing the contract. The terms vary a great deal among different dealers, even among similar models. Therefore, if you intend to ride on your motorcycle frequently, putting miles on it, it is advisable to buy an extended warranty. This will help you keep your bike under warranty, long after the manufacturer’s term of warranty has expired.
If you identify a motorcycle that you are interested in buying, consider taking details of the bike to an insurance agent to determine the insurance coverage you are most likely to get. Furthermore, visit the relevant local authorities and obtain the exact cost of the tax, tag and title. This will help you eliminate surprises in form of high operational costs or restrictions on getting your bike on the road.