Showroom Secrets; buying a new or used bike? | BikeSocial Full Chat
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- Опубліковано 24 бер 2018
- On this episode of BikeSocial Full Chat, Michael Mann talks to experienced motorcycle and car dealer, Martin Freeman, about how to get the best deal when buying a new or used bike from a dealership.
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Walked into Honda before Christmas and I specifically said, "don't talk about PCP, this will be cash\ PX..." salesman still went into PCP sale mode... no sale there Honda, I went to Suzuki and gave them my custom.
When I was buying a car told the guy don't talk about finance, he didn't, later found out he got sacked, so it must be in there contracts or something to try and push finance, a sad world
I don't use finance I save up so rewarding to pay for it in full and have no worries about interest or debt collectors or any of that shite..
Absolutely the best way to go. That way, what's yours is yours.
@@nickthequick definitely. 👍
My bank will give me 3.3% so dealer finance has got no chance with me. PCP is not for me because they make you feel like you're hiring the bike with periodic inspections and rules about ownership.
If you plan on keeping the bike at the end periodic inspections and rules about ownership don't really apply
Finance on a part exchange bike is a win win for the salesman
I get credit cards with 0% purchase and use them. Then if I still owe money when the purchase offer ends, I get a different credit card with 0% balance transfer. That way you never pay any interest. For my last bike I part ex my previous, put down a cash amount and the rest on credit cards. Paid it off in 14 months and the bike is fully mine and still in warranty.
yet again, absolutely no info on the fact that on PCP or HP the insurance cost will be greater (if you can get insurance at all..) due to the fact the bike is not LEGALLY yours... i checked insurance for a brand new yamaha tracer on pcp vs buying outright, and im not paying anywhere from £750 to £1.5k for my insurance... the three dealers i have been to have not explained the PITFALLS of arranged finance/PCP which ultimately worries me. These sorts of bits of info should be taken into account when considering a bike on hp or pcp..like the ridiculous restrictions placed upon the rider by whichever company you choose, for servicing shedules, max miles per year, and what type of insurance you buy.
Do your research first biker buddies! i think i'll just get a personal loan for my next new purchase :)
*biker nod*
I wouldn't ride without Gap Insurance. I've had three cars all less than a year old written off and haven't lost a penny. Never think it couldn't happen again. It's important the buyer knows what they want but also understands how much they could lose if the bike is written off. I went to a dealership and asked for a test drive. The salesperson was quite abrupt and showed a model within my price range then allowed me to test drive a car way over budget. However, another salesperson on the test drive was calm and friendly, offering to lend a car for a couple planned trips while a car was ordered. I called the dealership to arrange something but they haven't returned my call. It's easy to forget the salesperson doesn't make a dealership, especially if you have PCP on a bike.
I wouldn't necessarily take it out with the dealership though, as with most insurance if you shop around you can usually find a much better deal.
Another enjoyable one Michael but like NooBiker would have loved to learnt something about the bartering process. My problem is once i see a bike i want i become blinkered and common sense goes out the door. Only recently i traded in my bike for £4k and saw it for sale two weeks later for £6k and was then sold quickly. I have used the same dealership for years and that has happened so many times but as Martin said they have to make a profit and they only deal in quality bikes so i just accept it. If only i could get a Glasses Guide prior to part exchanging my bike. Looking forward to riding my recently brought bike once my broken wrist is healed.
Should a dealer replace a plugged tire on a used bike before a sale? And if discovered after the sale, should they replace it?
Spent first minute deciding if that was your garage or a pic before iPad really let me know it was wallpaper of some sort 😂
This guy is a joker, the customer will always be better off paying cash, finance is always more expensive, don't know what this guy is on about.
Fascinating interview, thanks. 👍🏻
Do you think any salesman has your best interest at heart? Do your homework and take advise from anywhere trustworthy but not the salesman. This chap might be a stand up guy but he might not be the mainstream in my opinion.
Depends. If the sales guy is the owner of the shop then he will want you as a repeat customer, for parts and service. If he lets you leave unhappy, you won't be back.
So, I’ve been offered about £800 less on my trade in than dealers sell them at . I could possibly get £600 more private sale . Dealer sells me new bike at full cost .. they must be on a good profit margin . Works just the same with a car . Ok, they have to put warranty on used bike but they must make a tidy sum ..
the big saving is sell private then ask for a few hundred off list price …
Looking for 1000cc minimum sport/tourer or naked, I know they are not cutting edge but as a big bore bike Suzuki’s 1250s make a lot of sense for reasonable money. Any thoughts ?
Buy the Suzuki, I had one (2008 model) and did 100.000 km with not a single problem, - and it was parked outdoors with minimal protection from weather. I only got rid of it (2020) because I wanted the new Ninja 1000SX but it was an emotional goodbye/
@@nickthequick cheers Nick 👍🏼
Good video 👏👏 personally i always do a review good or bad and really don't like doing a bad review as that means stress. Often I'll also email the MD to say how good the expense was 😂
Good Video - I just kept getting distracted by that Slabsider though. Ooh!
I actually had a good deal. The bank pay the dealer the full price. And then like a mortgage they own the bike until final payment.
Even at 7.8 % my bike is costing me 1k more than paying cash .I've opened a savings account so I can pay the 4.4k ballon price .then I get tue bike for 1 grand more than the cash sale. I couldn't get a bank loan that low after a week of trying.
But word of warning they will try to sell you. Gap .service pack and tyre cover to name a few .dont go it .you will pay interest on theses products that you dont need.
In the states we call PCP a lease (or a close approximation). I've used it on cars, but for a machine that I will be keeping for a duration longer than the contract I find it more prudent to buy outright. I keep my bikes for 7-10 years on average, which is why I'd not use this route if it was available in the US for motorcycles (it's not as far as I know).
I am finding that going to a dealer to look for a used 125cc bike is a waste of time! It does not seem to be a market that they are interested in. Regarding finance, the dealers I have spoken to don't seem to be interested in finance! They just want cash (maybe that is because I am only interested in 125cc bikes)
I know people who've had no problems getting a 125 from a dealer, very unusual for a dealer not wanting to talk about finance, they get commission, unless maybe you don't have a high enough credit score, so their finance company won't touch you. Maybe try getting a personal loan then you become a cash buyer, but you'll have less haggle room, but if you can't get money off the bike try getting a deal on accessories, obviously what the dealer buys it is cheaper than they sell it, so there might be room to put a package together, where they still make a bit, but you get a load gear at less than the retail price.
@@medler2110 I have a used bike now...bought privately! My finance rating is excellent. The dealer simply stated that they earn no commission on finance and if I wanted finance I should deal with it myself and use the loan to pay in cash. They had NO used bikes at all in stock! They were selling just new bikes.
Yet again I don't seem to fit the modern biker stereotype...I will keep my bike more than 2 years if I like it, my last one I had for 10. PCP definitely not for me. ( Thankfully I don't like these bikes with needless tech so more chance of it lasting.)
You are probably more in the majority than you might think. This "modern biker stereotype" is just what the dealers want you to be so they can convince you to pay them a load of money and come back in a few years to pay them a load more money... meanwhile you never actually own anything and they can keep shifting new units out the door (at ever increasing prices) and keep their sales figures up.
PCP is good for the dealers, good for the finance companies and good for the manufacturers but rarely is it good for the buyer imo. Well done for not believing the hype.
Hearing that Mate. And also, although I bought a new bike 18 months ago, it was a case of needs must and the planets aligned, but to be honest I'm not a fan of having new bikes as I'd rather not have the running in period and having to get the servicing done. Not a deal breaker but I'd rather buy a well looked after second hand one given the choice. Good luck with that when you're on the PCP hamster wheel.
If I was still 20 I could see the attractions of PCP - budget for the monthly payments and don't stress over the p/ex process. But now - and not just due to any improvement in personal wealth - I'll pay cash. Still look to p/ex if I can. But I don't know/care if I'll keep a bike 2 years or 5, or have more than one at a time. So, no PCP!
But, that obvious but usually ignored advice of avoid throwing up the abrupt just-browsing defence as soon as a salesman says hello, that's useful.
After watching this video of the Poacher turned um, Poacher, I now feel really sorry for the poor old dealerships and honest bike salesman. The manufacturing and retail outlet running costs are ever so expensive making profit margins so tough to find anywhere, if at all.
Any lucky customer who presents themselves deserves paying the full price, should get themselves over-insured, then purchase every extra and sign up for the never never purchase scam, oops I meant purchase scheme. Always good to find new ways to sponsor another loveable salesman for a few more years.
You could improve this "buying secrets video" by playing sad violin music in the background and weeping every time the Poacher mentions the word salesman.
Best Regards,
Sir Gissachance
really good and interesting thanks...
Invariably…
This guy seems like a bit of a roaster
Sir were are you located in UK
Perfect Amazing Fantastic Exelent Magical The Best Ever
getting rip off vibs from this guy