i bought a bike from these guys last year and they were the best, most honest dudes i had ever met at a dealership of any kind. there was ZERO BS. we talked for a couple hours about bikes before we came to an agreement on the one i was interested in. i have and will continue to suggest these guys to anyone i come across who is looking for a bike. i've been to plenty of dealers over the years and it's always a nightmare filled with frustration and BSing. i hope the guys at SRK continue to grow with their up front and honest business style.
Don't get the issues with the dealerships, if you know what you want. You should know the current rates, your credit score from all 3 agencies as well as fico.
Please add a video regarding 2 issues I have seen, 1. HD installs equipment that voids the warranty, I had to haul a friends 9mo old VROD back 1100mi to selling dealer they had installed screaming eagle fuel and the 2nd was a tire and wheel warranty? Had personal experience on every vehicle, both car and 3 bikes purchased since 2015... they couldn't explain and they had to remove or I was walking out
LOL my 2018 KTM 1290 Super Adventure R quote from the dealership in Pennsylvania: Selling price : $13,500.00 Prep: $400.00 Tires and wheel : $2.00 Registration fees : $19.00 Other charges and fees : $700.15 Title fees : $78.00 Total taxes : $ 867.00 Balance due : $15,566.15 With auto approved credit and no money down : 7.69% APR @ 72 months / $270.57 monthly payment = $19,481.04 - I kindly declined and thanked them for their time.
That's it? Really? 16% markup from advertised? Man...I wish we had that experience in AZ. All the RideNow dealerships for the big 4 japanese bikes be like this: Sale price for Ninja 650: $5499 Dealer "Doc Fees": $897 (AZ has no limit on doc fees) Freight: $795 ("because it came from japan" -hahaha wtf? It's a mass produced, non-numbered bike...freight should be 395 TOPS) Dealer Prep: $897 (cost to 'build' the bike, clean it, etc) Registration: $212 ish Tax: $550 ish (doesn't mathematically check out...but w/e) Total: ~$8850 (aka ALMOST 61% OVER ADVERTISED) Just this past Saturday for a 2020 Yamaha R1 advertised at $14,999 Dealer "Doc Fees": $897 Dealer Prep: $1300 ish (really..? Yes, really...@ RideNow Goodyear) Freight: $899 ("It's a special bike" --- bullshit, salesmen is full of crap. It's a mass produced, non-numbered bike...) Registration: $480 ish Tax: $800 ish Total: ~$19375 (aka almost 29% over advertised) RideNow franchises make a KILLING on small bikes in AZ. Poor nooby riders get suckered in HARD.
Nice to get the straight truth. I’d buy a Bike off this guy. It’s not about maximizing your 1 day profit, but building relationships and reputation. This is how businesses needs to be conducted.
Had a salesman at Harley straight up try to sell me a vrod for my first bike after I started asking him about a 883 sportster. He had me second guessing so I went home to UA-cam a vrod...I never went back. Good on y'all for having your guys on salary.
1. Extra hidden fees 2. Don't finance everything 3. Title problems 4. No test rides 5. Motorcycle upsell to different bike 6. If financing, get good rate, don't just go for dealership deal
@Rata 4U It's not "free money" if you're paying $50 per month! It's only "free money" if the Representative at the Bank said: You don't have $14k to buy the Bike, so, here you go, have $14k from us as a gift and go buy that awesome Bike...... How stupid are you are you to claim it's "free money"? How old are you to be chatting such shit?????
michael fraser I take my mom because I saw how she would tear them up it would take all day like 10 am to 8 pm and she would get the car/motorcycle/boat whatever it was she wanted to buy she would literally get whatever it was for chump change so I always take my mom 😂😂😂 and I always get my shit cheap
On financing. I did finance all my gear. (Jacket, pants and helmet). I had zero down and walked away with 0% interest. You are correct about paying for something over time though. That said, I made double payments on the bike, its almost paid off and still wear the jacket and helmet. The pants shrunk like 4 sizes...... or maybe my gut got bigger... hard telling
Such a rare quality in a man today. I watch Sean's videos all the time just because. I currently own two bikes but. When its time to upgrade my bagger i will do everything possible to buy from Sean. Thanks bro
Imroz Malik Trying to vilify dealerships is not exactly honest. He buys used bikes from walk in people and I guarantee he buys them RIGHT aka well below what he sells them for. AND he makes way MORE than a dealership can AND you can't "shop" a used bike. Each one is unique. The internet has FORCED dealers to use lowball tactics with * disclaimers at the bottom of the page.. it sucks, but it's the internet's fault. So many things I could dispute on this video! Lol. NO, I don't care if you roll up on an H2 turbo, you're not test riding my new, never ridden bike. Sorry. Go to a manufacturers demo truck and thrash on their bike. They have the insurance and bikes specifically designated for demos.
I didn't call him a liar. Selling used bikes allows him to hold a price that cannot be challenged except for someone looking at a similar bike, but they can't really use that as a negotiation tool because they just can't. All they (you) can do is walk. He says, himself, that his fees aren't added after you get there, HE HAS BUILT THEM INTO HIS PRICE. Doc fees are regulated by States, there is oversight at dealerships with the motor vehicles departments and departments of taxation.
You are missing the point. Doc fees are not regulated by all States. Get a 'retail buyers order" sheet from several different dealerships in your area, and compare the fees. Doc/Prep will be different. Regardless of that, what he is saying is that he builds the cost into the bike, so that you are only paying sales tax and registration on top of the sales price. But he also said he is competitive to other used bikes in the area. So he may sell a bike for $10,300 plus taxes/reg. The same bike at another dealership can be listed for $10,300 plus T/R, Doc, Prep, VIN Etch, Appearance PKG etc. I think he is fair in his business model.
When it comes to financing a bike, I agree 1000000001% to what you said. Unfortunately for me, I was too excited, too narrow minded, when I went to buy my motorcycle. I saw I wanted, and I got it, but looking back at it, I got what I wanted and I gave up more than what I had. bikes price was at about 9,000, I gave 6,000 cash and 1,000 in a trade in for a non running bike i had. so in some peoples mind (including my own) they might see it as, "oh the bikes 9k, i gave 7k, so i have to pay 2k + tax and fees" which is not 100% wrong but then they hit you with more fees than what you know of (which was also mentioned in the video) AND you are forgetting about your interest %. I was so dumb and close minded that I never stopped to think that the 17.94% interest rate was there. so now this bike that was 9,000 and lets say add another 2,500 in fees and maintenance plans and whatever else they try to cram in there, that goes to about 11,500 oh and dont forget your interest rate. so in the 4 or 5 years whatever you choose, you think you were gonna pay about 13k for a 9k bike? yea no..... turns out my mistake cost me another 6,000 total. so here I am with a 9,000$ bike thats costing me 14,500/15,000$ and don't forget, newer bikes depreciate in value pretty quick. so the bike today is only worth about 5-6,000. dont be like me. save yourself. even with my 7,000$ "cash" value into the bike, today I still owe about 4,800$ on the bike
Are you kidding me you had 2k to finance and you let them screw you like that. Sorry dude you deserved that. Also why would you take a loan for five years on that amount of money. There is an old saying stupid is as stupid does, I think that fits here.
I was an internet sales manager at a car dealer and appreciate this vid. I operated my transactions foe my clients the same way aa you. A good deal has to benefit both parties. Thanks
I negotiated an Out The Door price before I ever stepped foot in the dealership with the sales guy. When the manager thought he was going to hit me with a price $1,200 over the OTD price I'd already negotiated with his sales rep, I told him he needed to have an immediate conversation with his sales rep, or I would simply call the insurance company back and cancel my new policy as there were so many other dealers out there. That man came back sweating, and I got my price. He was mad irritated over that, but I held firm, and got the deal the way I wanted.
Who gives a shit if he got mad or not .that is just a show . If you got a good price you like . When salesmen are trying to push me i cant resist to push back and drive theme creasy
True story buying a new bike (one of several if I count cars too) I am in the market for a brand new 750 Honda Interceptor and I first got the dealer simply closest to my home ...I tell the salesman in there (a showroom empty of any other people btw) That I have decided to buy this particular model ...how much please? So we go to his desk and he starts clicking his adding machine and finally tears off the paper tape and announces "here it is!" So I say hmmm ....okay thank you very much I might be back...."what do you MEAN?" he says I said "well my plan is to visit each of the dealers within 20 miles of home and buy from the dealership offering the best deal! Then? This guys gets PISSED ...he literally is fuming at me for my plan ...He says something like "you come in here and take up MY TIME and effort to give you a price and you are going to use that to save money somewhere else? No way! YOU buy the bike from ME ...I DID the work WHO the hell do you think you are pulling that shirt on a salesman" I am dead serious! and it is not the only time this happened either! I guess MORONS actually WHAT? feel guilty and intimidated? And just bend over from you asswipes like this? BTW I saved SO freaking much money over THAT quote it was not even funny! AND I did not even have to do ANYTHING ...no games of any kind! The dealer I bought from was a high volume seller ...they had a row of like ten Interceptors and we're actually (unknown to me) running an advertised special! I got that bike for no shift like 20% less than the first shift head quoted me ... If you live in a place with several dealership's close by CALL each of them first and just ask how many of the bike you want they actually even have in stock.....LOOK FOR the well funded higher volume dealer! THEY will be the ones flipping bikes as fast as they can ....the dealers with low inventory? These guys are on a shoestring ...they feel they HAVE to get their price on the ONE bike they have or else be sitting with nothing ....HUGE differences from one dealer to another ...MASSIVE potential for saving cash! Do NOT be a fish and let anyone slam you into a shit deal! Don't be so anxious! You could EASILY save enough to buy all your gear etc ....Also do your homework re financing ...do you have a credit union? Find out their finance options ...ask "will I qualify? What if I buy the bike with crap financing? Can you immediately switch that to a loan from you all?" Cause my bet is THEY CAN and WILL unless you have poor credit. ...Better than that see if relative will be your loan company! Say man Uncle Joey I would rather pay YOU 3% than these clowns 8% (or whatever) ....most states allow for title to have two "owners" ..."Legal owner" AKA LENDER and "registered owner" AKA the guy making payments To the lender....I have financed vehicles for my kids ....better they pay me low interest than high interest to rip off artists... plus if they forget and hit me late? No biggie ...whereas a real lender? Big late fees and it goes on silly credit you report....If you relatives you have good relationship with? Costs nothing to ask em!
I've walked into 3 dealerships the past 2 days with 30k cash and they want nothing to do with me offering to pay full price for 2 bikes telling me I can't pick them up at the end of the day I'll have to wait 3 days for them to prep them blah blah blah but I watched them personally bend over backwards for a couple that came in there at the same time with $1,000 cash and 9k financed and told them an hour before closing that they would be able to prep the bike for them to take home today smh. Thank God when I walked out today an older gentleman validated that I am in fact not crazy and he's never seen two salesmen try so hard not to sell something in his life before .
Robert Hunter mine took great care of me in Victorville, CA if memory serves. I had to pay full fees. Interest was atrocious even though I have great credit. ..but they said I didn't. ..then I paid them to go over the bike only to have the front brake fall off on the first ride. Yep. B&B cycles did great by me. My friend faired worse on his new motorcycle. Every time they worked on it, I had to get or my tools because the first ride had stuff falling off. Great dealer. Great service. I'd go back to them anytime. Not.
This is def honest. I sold cars for 6 years and was a manager for the last 8 months before i said "i cant do this anymore" sales can be so dishonest and can even haunt you mentally if your not in a good place. This guy is honest and deserves your business. When i get a bike ill be calling in.
You'd have to be very very patient person to wait that long. In my situation with a family, house, kids, it would take me 7- 8 years to scrape together enough to buy a a nice new Ktm super duke or something similar. Without finance there would be no motorcycle industry.
If it would take you 7-8 years to save up then if you got a bike on finance the then interest would mean you would have to get a loan over at least 10 years. No one does finance on bikes over 10 years. Either there is something very wrong with your calculations or you cannot even get close to affording the repayments in the first place.
It was this type of mentality(paying cash for stuff) that allowed me to start my own dealership. I have still never paid more than $4,000 for a automobile. and that includes my work vehicles and the vehicles me and my wife drives.
Leo 71 you are absolutely right. Normally what I will do is try to pay cash myself and stick with lower budget bikes. Fortunately bikes age very well. My 2009 R6 is going to be ten years old still and it was cheap. So I was able to pay cash. But financing is required for the industry for sure for the newer models.
Experience from working at new car dealership here; "Back-end" or "Bumping the Rate" is common practice when using financing options through the dealerships. This man speaks the truth and has earned my subscription. Many of the questions answered her are applicable to car dealerships as well. People need to keep in mind these places are businesses, not your buddy that you go have a drink with and can trust with making decisions in your best interests, and though nothing may be verbally expressed, terms or fees may be expressed in the contracts you are signing. 1)Read what you are signing 2)try not to feel intimidated; they need your business, if they want it you should feel comfortable 3)asking questions is the best way to protect yourself; there's a lot of numbers and lines in a finance contract, have them explain it to you so that you understand what money is going where, it's the financial officer's job to do this 4)don't go into the dealership expecting to cheat the system or demanding that they bend over backwards and not make money on a deal, negotiation is a two way street. 5)sales people are sales people, take what they say with a grain of salt, the decision makers are the sales and finance managers. Don't be too surprised when a sales person shoots you better prices/numbers than the Boss(s). From what I see here Sean/Shaun(sp?) does care about his customers and is giving wisdom some do not have the opportunity to experience first hand without putting themselves in a "up-side down" or costly position. So take this video for what it is. He's guiding/educating everyone watching on how to properly prepare for a business transaction with a vehicle dealership. What he does not cover too much is negotiating the value of the bikes, but that is situational topic and is based on the ability and money invested into the bike by the dealership.
Went to a BMW dealership to look at a new s1000rr and the sales guy wouldn't shut up about the serval used 1000s they had ,every time I asked a question about the new bike he would come back about something on the used bikes I got pissed and left drove down the street and got a new Honda rr
Michael Walden I've always found BMW dealers to be dicks until you roll up in a car or bike worth as much as your looking to buy. Unless your 50 with a Rolex on your arm and a beard.
Sean, Michael I think you two nailed the essence of it....the sales guy was too busy talking to listen, probably driven by a desire to pocket a better commission, and as a result, got "100% of nuffin" -- Thus endeth the lesson! :-)
Honesty goes a very long way. In my opinion, that's one of the reasons you guys are so successful, not to mention providing entertaining content. Cheers!
I have a slight problem with your comment about "If you can't pay cash, do you really need it?" By that logic, almost nobody would ever own a home, or any vehicle worth having, because almost nobody has that kind of cash just on-hand. And waiting until you do, is just wasting precious time you can never get back. I financed my Mustang, Ranger, and Softail ( at different points in time ), so that I wouldn't be stuck without them, until I raised the money to buy them. I know I paid a fair bit in interest, but that's the trade-off for the time I didn't lose. I can always make more money. I only get so much time. I like to think my time is worth the extra money spent. I do agree that if you CAN pay cash for something, it's usually a better option, though. But do recognize that it isn't always going to be.
Kaptain K good point, cash isn’t possible in this market. If everyone waited until they had cash for a home or vehicle of any significant money. The economy would crash as hardly anyone earns enough to buy a house cash or a £60k car
@@Addy29plus5 Exactly. The entire point of installment plans, is that you don't have to wait to have the product, until you have the cash on hand. Which for my home, is $143K. Which my family is paying on for what's left of 30 years. I just could not be without a home for 30 years, and continuing to rent would take a fair chunk of that money out, making it that much longer before I can. That's just not feasible. Loans and lenders get a really bad reputation, but most of the time, they're really not your enemy. Yes, they cost more than you borrow...that's how they make a profit. But as you USE them, and faithfully make your payments...you build a credit rating that can earn you better interest rates, making lending cheaper. And you can almost ALWAYS reduce that extra cost, by paying more than your minimum, reducing the duration of the loan, and in turn, the amount of interest you'll owe. And with credit cards, you NEVER pay ANY interest, unless you carry a balance more than a month. So if you make little purchases with a card, and pay the full balance when the bill comes in, you'll literally never pay any interest, AND you will build a credit rating. That was my secret. These things aren't your enemy, as long as you use them properly.
Kaptain K yeah spot on, it’s just annoying everyone talks about credit like it’s some sort of enemy or devil. Most country’s are living on credit hence the debt deficit. If done properly it can really be helpful.
I wish i could buy a bike of you but i live in europe. I trust you 100%. I dont know you just give the vibe of a very trustworthy person. Obviosly you are in it to make money but still you wont break a persons finance for your own gain. I wish i could find a dealer like you here in spain.
I went to buy a brand new motor bike from ktm and cash for it, they wouldn't sell me a bike then they told me every bike here in this store were sold 🤔🤔 Then they said we order you one and it will take 6months to come.... Wtf...but why I had cash for it??
Sean that’s some good advice about paying cash. I’m a guy that owns his house outright. I saved and manipulated past home sales to put myself in a great equity situation and I was able to pay cash for my house. I’ve owned 4 houses in my life and I have NEVER had a mortgage. There are ways to make that happen and I’m so glad I did. I hate payments of any kind so I don’t have any except food , utilities etc. I feel so blessed to be heading into my last couple of decades on this planet without huge debt. Keep that attitude about everything and life will be good for you. I want a bike so bad but not until I can pay for it. As I’ve said before, my bike fund was spent on the unexpected funeral of my youngest daughter. But I have started over again and it will be awhile before I can buy a bike from you guys but I will when the time comes. You gave some good advice and I hope people have the sense to follow it. In 35 yrs of owning my business I paid cash for everything and I never missed a payroll once for 30 guys. I missed paying myself a lot but never a bill or a paycheck owed for work to someone. You guys are operating your business as you should be and NEVER put yourself in debt for things that you can do without. My priorities were : my kids and wife , then my business and the Sunday offering. Never wasted a dime on booze or gambling or smoking. That’s how you get to own your house by 42 yrs old. I’m 60 now and it feels awesome !! 🤪🤪🤪🤪 I’m babbling again sorry. Peace ✌🏻🙏🏻 EPK
usmarinecuv902 used can be $3000-10k. VERY VERY VERY few people can pay that upfront. You can pay it off fast if you prioritize it and it'll keep you from having to wait 7 months on the ramen diet. Rather than paying it off in 1/3rd of the term limit. That keeps total interest paid low and keeps you from having to whip out $5k in cash/check
But if saving up is that hard then ,unless your future is secured , paying finance will be a super biatch . I know its circumstance but ive seen a few sorry faces paying finance on bikes they cant maintain.
I can't really agree with that.. Like shadow said, they're cheap enough to finance without a problem anyway. Plus, I can't think of a single NEW bike that I like. The 2008 R1 is my favorite and thats what I'll be picking up next week. There's no way I'd pay quadruple the price for a new 2018 that I don't like. Then there's insurance which gets insane on new bikes.
@@Shadow0fd3ath24 That's actually why I'm looking to finance a bike. I've thought of going to a bank or something, only problem is not sure how that would go with my credit being nothing. Lol. They'd probably want an arm and a leg or just wouldn't do it at all. Which kinda has me stumped, guess I just need to do much more research. I've done a little bit, haven't found a whole lot. (Edit: just noticed I am a year late on this. 😂)
Just came across your channel a few werks ago when seriously started doing my homework on buying a bike (yay tax money, haha). Just with this video realized you're in PA. Gonna' have to check out your site then, your vids have earned my respect for honesty and candidness on both sides of the sales table.
Great advice. My dear-old-dad worded it this way: don't buy anything on credit that goes down in value. At this point, real estate and college tuition are the only items on my list I'd consider.
I have been watching your videos for a while now and for you to be honest like that really makes me want to buy a bike from you! Great for watching out for the customer!
eastbaytouge how old are you..? I got no credit lol... I’m only 22 and I’m thinking about financing a bike. Probably not a grom I live twenty miles outa town and have to use highway everyday that’s legit the only reason why haha. #Gromlife!
By far the best marketing strategy I’ve ever seen. I have 4 bikes and I still want to buy from SRKCycles. Nicely done... And, he did it without trolling us. Very brilliant!
I buy many salvage bikes mostly GL1800's and they are usually the best and safest buys and also cheap to repair. Some of the riskiest buys are clear title as many are home repaired and have hidden damage. Keep in mind the main difference between clear and salvage in many cases is salvage was turned into insurance and clear is either clear or was damaged but not turned into insurance and home repaired. I also am leery of older bikes with low miles. Not riding regularly is hard on bikes, much worse than putting on more miles. Floods need to be avoided, never a good buy. Lot's of good info here, thanks.
That's why I buy flood bike because most people don't know how to properly dry and repair flooded.bikes. I make good money on these and.havent had a.problem yet. Good for.me!
Really liked this video, screw the people who said it was boring, ain’t nobody forcing them to watch your stuff! In the market for a newer bike myself and i learned a good bit from your vid, thank you!
The fees is a very good point and rightly stated as #1. I buy:: I know what I honestly think I can buy for. If it is advertised at $5,000 I know tax and title is going to be $400. Other dealers are advertising the same bike at $4900-$5400 so the advertised price is probably the best I'll get. I say:: I'll pay $5400 out the door. They talk fees and I say, write it up ANY WAY you want, but I'll hand you $5400. They often do adding freight or prep but reducing the bike price. Adding in the fees reduce the taxes often because they write a lower bike sale price, and therefore they end up splitting the extra $400 with the state is fine with me. If I bought it from an individual and the tax approved state price was $5000 then I'd pay the full $320 in tax and $60-90 plus my time in title and tag work. I think your method is better. Just tel them the price, no addons except governmental. Most kids aren't as experienced as old dudes.
nyetloki. Possibly, states have different tax laws. Have you bought from a brick and mortar dealership with full paperwork at closing, including the breakdown? Do you know your state and county percentage? Have you carefully checked their math? I know you'll say yes, but just asking. If the price is all together as this dealer dies, it may well be tax on one price.
I bought my first bike from a dealership 2 months ago. I figured since it was a ‘16 Ninja 650 with 3.5k miles on it *from a dealership* that they would tell me if it needed anything. Being the new rider that I was, I walked in, said “I want that one” and took it home. A month later, I looked at the sight glass for the first time. *THEY SOLD ME A BIKE WITH A QUARTER QUART OF MOTOR OIL IN IT AND I HAD BEEN RIDING ON IT FOR A MONTH!!!!* Needless to say, they got an extremely angry phone call the following morning.
Great to see a straight up solid dealer and a owner with good character. My next bike it would be worth the trip to PA and deal with SRK. Thanks for your videos
Big T exactly what I was thinking... Welp, luckily in Europe we have a more straightforward kind of business model and luckily we don’t have that much -scammers- bad salesmen
@@richboii6597 except in my experiences there's no negotiation. When one salesman offered my friend working hard to play hard ball a doc discount so then I saw him slip the money back in elsewhere. When I caught him he said are the prices fixed? No. Um...if you offer a discount and put it in elsewhere that's a lie. I said it to his face. My friend's eyes bulged and he said he was glad I was on his side because if I wasn't he'd punch me in the face! Lol We paid the same fees at another dealer without the tricks and lies. It may be awful, but it's better without the "promise" of negotiation when you get nothing out of it.
Big T I could agree with that in some ways but we can also ride anything we want after our endorsements. It takes alot of countries like The U.K for example they have to start on a 125. I know their rules are based off hp but I dont remember the exact numbers. So I mean we have complicated dealerships but once you get the bike their isnt much rules
It can be quite simple, but a lot of times the customers try really hard to make things complicated. But you also have to consider that there are several other deals going on at the same time you are in the dealership. to combat this, go there on a weekday morning, or early on a weekend morning, before the crowds get there. You can also go online and do a lot of research and find out which dealerships in your area are good and which ones are not so good to do business with. Then make an appointment with a salesman at one that is rated on the top of the list. Tell the salesman which bike or bikes you are interested in and that will give him time to prepare a bike for you to look at and possibly test ride. It will also give you time to look at the manufacturers web site and have all of the finance and rebate/discount information. You can also look up and see the dealer invoice, so you will understand how much mark up(if any) there is on the bike you are looking at. You can also use this time to try and negotiate the sales price if you are financing, or the out the door price if paying cash. Buying a bike or car isn't really all that hard in the States.
I criticize you harshly at times, but this video really showcases your honesty and integrity. I would buy from you in a heartbeat. I dont have to like what you do at times to like you as a person. 👍
Looking to buy my 2nd motorcycles and I came across this video. I appreciate the comments and the advice. I don't buy a lot of motorcycles so I appreciate the honesty and be able to deal with someone who's straight fold and up front.
10:04 Basically my boss and I browsing bike websites while at work on lunch break. I'm looking for a super-sport and he wanted to make sure I wouldn't become road-spaghetti. Gonna be getting an R3 in the Fall. Hooray for Florida and it's year-round riding season.
Do not buy more bike than you are comfortable riding ! Riding should be an enjoyable experience. Get the R3 enjoy riding for a few years then after it is paid off if you want something bigger and better you have the trade in. One thing this video did not address is the cost of insurance, talk to your agent about this "hidden" cost before buying anything. Enjoy your year-round riding season and best of luck from South Dakota.
good advice, more dealers should be like you. Last time I was at a Harley dealer, it couldn't be more obvious that they were trying to make money any way they could and were so pushy, didn't seem interested in actually giving me a good deal.
Have been riding for 13 years now and I have always bought pre owned bikes. I've had my gsxr 1k for about 3 years now and was planning on getting a new 2019. I've worked very hard to repair my credit so this video was super informative for someone who's planning on financing a portion of my new bike. Dealers around here arnt exactly the most honest nor best priced so the honesty from a dealer as yourself is much appreciated. Ride safe.
Sean I want to say thank you. I am looking to buy a motorcycle. I've always wanted a Honda Shadow and your videos on the shadow have 100% sold me on it. Your behind the scenes on dealerships have helped me a lot in what to watch out for, Fees, intress rates, pushy sales men.
Good advice on financing. I did buy a 2018 two tone scout ABS as first bike. At factory promo 0.9% the total interest over 60m is like less then 400. But you have a great point - How annoying is it going to be to pay that 230 a month a few years from now? Think I'll apply 50% to principle with first payment.
Appreciate the honesty, brother. Love it that even though it goes against the possible pocket book in your jeans, it's the right way to do business in the heart of the consumer. I seriously hope that this brings folks to your place in spirit of that fact.
Good video. A dealership in my area (not naming any names) sold a Suzuki Hayabusa to a friend of mine who had never owned a bike. I no longer do any business with them for that reason alone.
I found a bike a couple of months ago listed for $7k brand new (in clearance). I called the dealership and the table cost was $10k. $3k dealer fees on a $7k bike. It was crazy, but it worked out for me. I ended up finding a used model of the same bike from 2006 with only 5k miles for $3k a little later and was able to pay cash.
NeonIceCube. Who says that just because they can't afford that price that they don't need it? Huh? EXPLAIN that one. It's called saving money for it. Shut up idiot.
Shaun S you should never pay cash for anything a very wealthy person and someone who knows how to handle their money always uses other people’s money (bank money) if you have good credit you can get a 4% loan rate and you can make 6% on your money by investing it there for still make 2% income if you pay cash you have no income from your money
Slimphattz MrJamdown i bought my first bike from ambler, a beat up suzuki gs500 i sold a few month later. It wasnt pretty but it was cheap and they replaced the rear tire free when i said something about it
I'm glad you sell based on buyer experience. A friend of mine that's NEVER ridden a motorcycle in her life just went and bought a Ducati Monster! I was appalled. Paying cash has a hell of an influence. She fell over practicing turns and went and bought a Grom to practice on... SMH
When I was looking to buy my first Motorcycle back in 2006, the dealer kept trying to sell me an 883. I was specifically looking for the 1200 model, and made that clear. He went so far as to say "you can buy the kit and make it like the 1200." My reply was "Or, I can buy a 1200 and save the money on the kit. Then later Ill build the 1200 bigger."
I got a brand new R1 2016 for $12,000 out the door but I got it that cheap cause I just bought it and it's 2018 so it's wat dealers call a left over anytime goin to the dealer ask wat that have that's a left over from last year or even the year before that they will sale cheap to get new models in.
Duvalcruza904 Yes! That's what my first bike purchase was, a holdover from the previous year ( 8 miles on the thing ) with $1,000.00 shaved off! It was probably left on the floor cause it wasn't a supersport. But it has served me well up to now.
Thanks for the honesty. I ride an 11 year old bike and really want something newer, smoother, and more amenities. Yes, I want a new Indian/Harley/Yamaha. Truth is I’m likely gonna have to go back to your video on being content and paying what I can afford and get a cheaper bike that suits my needs without worrying about “The Brand”. Thanks!
I’m glad that you’re being pretty honest about this. I live in Maine I don’t get to your area. Unless you was to send me a bike for free not sure I could afford to buy a bike from you and have it sent here being on disability and all. But I do appreciate your honesty. And if I lived in that area I would definitely buy a bike from you.
For you Nor'easterners there is National Power-Sports in Pembroke NH. I bought my Dyna from them on their layaway plan in November "15", paid it off in 6 months, and the first week of April 2016 they crated it up and shipped it to me. They function the same way as SRK. No commissions, just straight talk, good prices, honesty and customer satisfaction.
It really isn't about where you're going. Where you're going is your excuse for riding. What it's about is the ride. And to some degree, maybe a big degree, it is about what you're riding. Good vids. Keep on keepin' on.
1) EVERY car sold has a DESTINATION CHARGE. Motorcycles don’t MAGICALLY APPEAR at dealerships. And profit MARGINS on NEW motorcycles are a joke. That’s between what the manufacturer charges the dealer and the MSRP. AND it’s the SAME percentage on a $3,000.00 bike as it is on a $15,000.00 bike, atv, or scooter. So yes, dealers pass on freight and prep costs to buyers, and no, you don’t because you sell USED BIKES. MOST dealerships in the Northeast don’t allow test rides because of LIABILITY and LAWSUITS. Some dealerships do, though. “Motorcycle upsell”... not generally true, although there may be a spiff that would maybe make a salesman steer you toward a certain brand, but not upselling for commission’s sake. Most States regulate how much upcharge can be added to financing, and nobody is holding a gun to a customer’s head to buy/finance a motorcycle. Sorry if this reply doesn’t flow too well, and the caps are for emphasis, not yelling.
What you said is true, and dealerships are like any other business, and HAVE to turn a profit to survive. The main issue is that they should be up front about it, instead of advertising one price and then adding to it when you show up. Bananas also don't magically appear at the grocery store, but the cost of shipping is built into the advertised price. It's the deception that people have a problem with.
That 'hidden cost' is due partly to the way the manufactures advertise. They show you the customer a MSRP, then they sell the bike to the dealer with a shipping fee(destination fee), and some of the manufactures charge the dealer a setup feel as well. Then the dealer has to pay someone to prep the bike. So as a buyer, you will be passed the fees, allowing the dealer to actually make enough money to keep the lights on in the showroom(not necessarily enough to make payroll). Now some dishonest dealers will jack those prices around, and I would stay clear of them. But when I did sales, I would always inform my customer what the fees were going to be before my customer even sat on the bike, let alone discuss final pricing. I was not a commissioned salesman either, and when I was a salesman; tax, tag, title, destination/setup fees where usually $500. So if Honda lists the GL1800 at $27,000, and a dealer lists the same bike for $27500; are you going to stop in and buy from them, or go to the next dealer down the street advertising at $26995.99? Then lets talk about options. Now if this guy is acting like he's special because he doesn't charge you a setup fee or a destination fee, that's because he's a USED BIKE dealer. Used bikes don't come with a destination fee. You purchase them outright from auctions or private sales, add a percentage for a profit margine and wait for someone to buy it. The upside is the bike fully belongs to the shop, there are no manufacturers passing fees or billing you for inventory monthly(known as a floor fee in some areas). Just add $500+ to the top of the number you paid...Down side is when you take a bike in that you can't sell for the money you have in it, and it ties up funds for other purchases.
You sound like you were an honest salesman, informing your customers of the extra fees as early as possible. As you have explained, the added costs are just part of the industry, part of the dance of the manufacturers and dealers. I don't buy new bikes or cars, so I'm unfamiliar with the dance, but probably this is common knowledge to most people. So while uninformed people like me may be outraged to find the advertised cost different from the final real cost, the savvy buyer probably knows it's going to happen in advance, so no outrage. I'm always annoyed when any industry has their own rules that they expect everyone else to just "know", but in this case it's probably so much a common practice that most functioning adults are aware of it. To your example of the two dealers, the one that advertises the true cost would be penalized over the dealer that advertises the cost before the add-on fees. That's a real shame. My idealism would love to see a dealer make a big deal in his advertisements about ***OUT THE DOOR FINAL COST!!! ALL TAXES AND FEES INCLUDED!!!***. It seems like that could be an opportunity to separate that dealer from the others in a good way. But I don't own a dealership and am not in the position to offer advice to those who do. Thanks for your reasonable answer. You seem like a good guy.
Oh this one i like!! ... Eggs or bread don't magically appear either, and you are not charged 120% the cost of "appearance" at the shelves, then add 50% of the cost of a new tag or transfer. the margin suggested by manufacturers takes into account the freight pretty much like every single product transported for "consumption" in the planet, or "plus"you can add it, a reasonable one. It may not be the 40 or 50 % that you guys are trying to shove into people's asses., but is still a good margin that, if you, dedicate yourselves to sell bikes instead of ripping people off can make a decent and honest! living. Good thing is now there is a way to counter act that, there is plenty of offer ups let go and craigslist... Plus, the fine gentleman we just saw on this video!!
@@johnnyfever9708 Since your on this computer, you should be studying up, on how buying cars and bikes work. Buying dealer stock may get you a better deal than having them search for a certain bike or car you want. Loyalty programs as so work. It knocked $3,000 off the hard candy custom paint on my Harley.
I don't know what they sell there, but as far as manufacturer dealers (BMW, HONDA, DUCATI, etc) go, freight and set-up are not hidden fees. They're right on the website listed as "not included," as it is with new cars. Usually listed as, "Destination".
When I sold my R6 on Craigs, I had 5 hits the first week who came to try it. Every one of them was a first time buyer that I turned away. All young hothead kids, no idea what they were in for. Being a very big dude, they honestly thought I was selling it because it was "only 600cc". It was nearly impossible to explain to them that I would not sell it to them because it was probable death sentence. In the end a guy who wanted it just for track racing took it home, and I felt alot better for it, despite the hurt feelings and the fact that I plain out said in the post "Experienced, endorsed riders only. Not a beginner bike, especially as I've tuned it." If those young newbie riders want to be a stain on the pavement, I'm not going to help them do it.
Oh hell, for us salty old farts, sky's the limit. We do stupid stuff and get greased, well, all they will say at our funeral is "He died like he lived. Fast, fat, and stupid. Like a boss." 19 year old new rider? Different story, lol
If your willing to buy a super sport for your first bike with no other mc experience despite a dealer telling you its bad idea. then I have done what I needed to do to sleep at night.
A life lesson to American people: if you can't pay cash.. You can't afford it. Plain and simple. Unless it's a house, that's different.. But cars, bikes tvs phones..
texas tough dude. That's a type of tire not a Motorcycle. Lmao! Why is it you have internet access but didn't Google that question before posting your question? 🤔???? LoL!
I was thinking it would be more beneficial to under sell CC's to a customer. 1) There going to come back alive. 2) There's going to out grow the bike. 3) Customers feel more of a bond with there motorcycle dealers if they progress with them throughout there growth. And lastly D) Your going to know that customer better (likes , dislikes etc) and have a loyal customer for life as well as a possible friend.
Great video of honesty. I paid half cash and half financed for my 16' dyna Lowrider and i actually pulled money out of my savings plan to pay it off because they were making a ton off me. Ill never finance again. Great vid and i hope you helped out a few people who thought about financing.. People,, dont do it trust me, youll throw your money away.
i bought a bike from these guys last year and they were the best, most honest dudes i had ever met at a dealership of any kind. there was ZERO BS. we talked for a couple hours about bikes before we came to an agreement on the one i was interested in. i have and will continue to suggest these guys to anyone i come across who is looking for a bike.
i've been to plenty of dealers over the years and it's always a nightmare filled with frustration and BSing. i hope the guys at SRK continue to grow with their up front and honest business style.
I would buy from him and I've never met him, just based on my impression from his videos.
Don't get the issues with the dealerships, if you know what you want. You should know the current rates, your credit score from all 3 agencies as well as fico.
Please add a video regarding 2 issues I have seen, 1. HD installs equipment that voids the warranty, I had to haul a friends 9mo old VROD back 1100mi to selling dealer they had installed screaming eagle fuel and the 2nd was a tire and wheel warranty? Had personal experience on every vehicle, both car and 3 bikes purchased since 2015... they couldn't explain and they had to remove or I was walking out
In my country if the dealer installs anything the warranty must still be honoured, they still try to weasel out of it
LOL my 2018 KTM 1290 Super Adventure R quote from the dealership in Pennsylvania:
Selling price : $13,500.00
Prep: $400.00
Tires and wheel : $2.00
Registration fees : $19.00
Other charges and fees : $700.15
Title fees : $78.00
Total taxes : $ 867.00
Balance due : $15,566.15
With auto approved credit and no money down : 7.69% APR @ 72 months / $270.57 monthly payment = $19,481.04 - I kindly declined and thanked them for their time.
That's it? Really? 16% markup from advertised? Man...I wish we had that experience in AZ. All the RideNow dealerships for the big 4 japanese bikes be like this:
Sale price for Ninja 650: $5499
Dealer "Doc Fees": $897 (AZ has no limit on doc fees)
Freight: $795 ("because it came from japan" -hahaha wtf? It's a mass produced, non-numbered bike...freight should be 395 TOPS)
Dealer Prep: $897 (cost to 'build' the bike, clean it, etc)
Registration: $212 ish
Tax: $550 ish (doesn't mathematically check out...but w/e)
Total: ~$8850 (aka ALMOST 61% OVER ADVERTISED)
Just this past Saturday for a 2020 Yamaha R1 advertised at $14,999
Dealer "Doc Fees": $897
Dealer Prep: $1300 ish (really..? Yes, really...@ RideNow Goodyear)
Freight: $899 ("It's a special bike" --- bullshit, salesmen is full of crap. It's a mass produced, non-numbered bike...)
Registration: $480 ish
Tax: $800 ish
Total: ~$19375 (aka almost 29% over advertised)
RideNow franchises make a KILLING on small bikes in AZ. Poor nooby riders get suckered in HARD.
@@frustratedmillennialz Same experience here in NV.
KLX250 sale price: $4400
Other fees taxes etc: $2200
Out the door: $6600
Ridenow
Nice to get the straight truth. I’d buy a Bike off this guy. It’s not about maximizing your 1 day profit, but building relationships and reputation. This is how businesses needs to be conducted.
Had a salesman at Harley straight up try to sell me a vrod for my first bike after I started asking him about a 883 sportster. He had me second guessing so I went home to UA-cam a vrod...I never went back. Good on y'all for having your guys on salary.
1. Extra hidden fees
2. Don't finance everything
3. Title problems
4. No test rides
5. Motorcycle upsell to different bike
6. If financing, get good rate, don't just go for dealership deal
Thank you, saved me from wasting 14 min of my life with this blabbering idiot
@michael smith
Dave Ramsey
Rata 4U that is about as stupid of a move that anyone could ever make.
@Rata 4U
It's not "free money" if you're paying $50 per month!
It's only "free money" if the Representative at the Bank said:
You don't have $14k to buy the Bike, so, here you go, have $14k from us as a gift and go buy that awesome Bike......
How stupid are you are you to claim it's "free money"?
How old are you to be chatting such shit?????
Rata 4U, Harley is offering me 1.99%. I thought about HELOC. IS THAT INTEREST TAX DEDUCTIBLE?
I take my wife......
She batters the hell out of them
one sales rep said don’t bring her back next time........
michael fraser I take my mom because I saw how she would tear them up it would take all day like 10 am to 8 pm and she would get the car/motorcycle/boat whatever it was she wanted to buy she would literally get whatever it was for chump change so I always take my mom 😂😂😂 and I always get my shit cheap
michael fraser my fiancee's mom is scary to me so I'm bringing her with me to get a motorcycle. I've seen what she does to rude cashiers... 😂
@@frankwilliams5802 bro that’s exactly how my mom is 😂 ALWAYS take mama
I'm very distracted by your bike having Pirelli on the side and Michelin on the front fender
That's just Michelin Man's cousin, Pirelli Pete.
@@hamonthecob unless something changed. Pirelli is Italian, but always made in China and Michelin is simply made in the U.S.A.
@@DENicholsAutoBravado Holy moly...... it was a joke man.
@@DENicholsAutoBravado but french
@@hamonthecob ..my comment was to the OP. You did a good joke. :)
On financing. I did finance all my gear. (Jacket, pants and helmet). I had zero down and walked away with 0% interest. You are correct about paying for something over time though. That said, I made double payments on the bike, its almost paid off and still wear the jacket and helmet. The pants shrunk like 4 sizes...... or maybe my gut got bigger... hard telling
Same boat
Some people just rather pay 4 times what the items worth
Such a rare quality in a man today. I watch Sean's videos all the time just because. I currently own two bikes but. When its time to upgrade my bagger i will do everything possible to buy from Sean. Thanks bro
I watch his video just to see an honest man talking. And yes I like motorcycles too 😊
Imroz Malik Trying to vilify dealerships is not exactly honest. He buys used bikes from walk in people and I guarantee he buys them RIGHT aka well below what he sells them for. AND he makes way MORE than a dealership can AND you can't "shop" a used bike. Each one is unique. The internet has FORCED dealers to use lowball tactics with * disclaimers at the bottom of the page.. it sucks, but it's the internet's fault. So many things I could dispute on this video! Lol. NO, I don't care if you roll up on an H2 turbo, you're not test riding my new, never ridden bike. Sorry. Go to a manufacturers demo truck and thrash on their bike. They have the insurance and bikes specifically designated for demos.
brutalblues he is doing business with ethics. That is not a face of liar!
I didn't call him a liar. Selling used bikes allows him to hold a price that cannot be challenged except for someone looking at a similar bike, but they can't really use that as a negotiation tool because they just can't. All they (you) can do is walk. He says, himself, that his fees aren't added after you get there, HE HAS BUILT THEM INTO HIS PRICE. Doc fees are regulated by States, there is oversight at dealerships with the motor vehicles departments and departments of taxation.
You are missing the point. Doc fees are not regulated by all States. Get a 'retail buyers order" sheet from several different dealerships in your area, and compare the fees. Doc/Prep will be different. Regardless of that, what he is saying is that he builds the cost into the bike, so that you are only paying sales tax and registration on top of the sales price. But he also said he is competitive to other used bikes in the area. So he may sell a bike for $10,300 plus taxes/reg. The same bike at another dealership can be listed for $10,300 plus T/R, Doc, Prep, VIN Etch, Appearance PKG etc. I think he is fair in his business model.
Jeremiah Mckenna me too. Fair.
When it comes to financing a bike, I agree 1000000001% to what you said. Unfortunately for me, I was too excited, too narrow minded, when I went to buy my motorcycle. I saw I wanted, and I got it, but looking back at it, I got what I wanted and I gave up more than what I had. bikes price was at about 9,000, I gave 6,000 cash and 1,000 in a trade in for a non running bike i had. so in some peoples mind (including my own) they might see it as, "oh the bikes 9k, i gave 7k, so i have to pay 2k + tax and fees" which is not 100% wrong but then they hit you with more fees than what you know of (which was also mentioned in the video) AND you are forgetting about your interest %. I was so dumb and close minded that I never stopped to think that the 17.94% interest rate was there. so now this bike that was 9,000 and lets say add another 2,500 in fees and maintenance plans and whatever else they try to cram in there, that goes to about 11,500 oh and dont forget your interest rate. so in the 4 or 5 years whatever you choose, you think you were gonna pay about 13k for a 9k bike? yea no..... turns out my mistake cost me another 6,000 total. so here I am with a 9,000$ bike thats costing me 14,500/15,000$ and don't forget, newer bikes depreciate in value pretty quick. so the bike today is only worth about 5-6,000. dont be like me. save yourself. even with my 7,000$ "cash" value into the bike, today I still owe about 4,800$ on the bike
Happen to me too
Are you kidding me you had 2k to finance and you let them screw you like that. Sorry dude you deserved that. Also why would you take a loan for five years on that amount of money. There is an old saying stupid is as stupid does, I think that fits here.
17.94%?!?!? Shut the front door.
could not read all that..sorry
@@Hoggdoc1946 yes indeed
I was an internet sales manager at a car dealer and appreciate this vid. I operated my transactions foe my clients the same way aa you. A good deal has to benefit both parties. Thanks
I negotiated an Out The Door price before I ever stepped foot in the dealership with the sales guy. When the manager thought he was going to hit me with a price $1,200 over the OTD price I'd already negotiated with his sales rep, I told him he needed to have an immediate conversation with his sales rep, or I would simply call the insurance company back and cancel my new policy as there were so many other dealers out there. That man came back sweating, and I got my price. He was mad irritated over that, but I held firm, and got the deal the way I wanted.
Who gives a shit if he got mad or not .that is just a show . If you got a good price you like . When salesmen are trying to push me i cant resist to push back and drive theme creasy
Sales rep probably got upset because he spent all that time working with you and got no commission.
Who are you to judge another persons worth??
Not sure if you're referring to me, but a man's worth is what he's able to make and take, not what someone gives him. Real talk.
True story buying a new bike (one of several if I count cars too) I am in the market for a brand new 750 Honda Interceptor and I first got the dealer simply closest to my home ...I tell the salesman in there (a showroom empty of any other people btw) That I have decided to buy this particular model ...how much please? So we go to his desk and he starts clicking his adding machine and finally tears off the paper tape and announces "here it is!" So I say hmmm ....okay thank you very much I might be back...."what do you MEAN?" he says I said "well my plan is to visit each of the dealers within 20 miles of home and buy from the dealership offering the best deal! Then? This guys gets PISSED ...he literally is fuming at me for my plan ...He says something like "you come in here and take up MY TIME and effort to give you a price and you are going to use that to save money somewhere else? No way! YOU buy the bike from ME ...I DID the work WHO the hell do you think you are pulling that shirt on a salesman" I am dead serious! and it is not the only time this happened either! I guess MORONS actually WHAT? feel guilty and intimidated? And just bend over from you asswipes like this? BTW I saved SO freaking much money over THAT quote it was not even funny! AND I did not even have to do ANYTHING ...no games of any kind! The dealer I bought from was a high volume seller ...they had a row of like ten Interceptors and we're actually (unknown to me) running an advertised special! I got that bike for no shift like 20% less than the first shift head quoted me ... If you live in a place with several dealership's close by CALL each of them first and just ask how many of the bike you want they actually even have in stock.....LOOK FOR the well funded higher volume dealer! THEY will be the ones flipping bikes as fast as they can ....the dealers with low inventory? These guys are on a shoestring ...they feel they HAVE to get their price on the ONE bike they have or else be sitting with nothing ....HUGE differences from one dealer to another ...MASSIVE potential for saving cash! Do NOT be a fish and let anyone slam you into a shit deal! Don't be so anxious! You could EASILY save enough to buy all your gear etc ....Also do your homework re financing ...do you have a credit union? Find out their finance options ...ask "will I qualify? What if I buy the bike with crap financing? Can you immediately switch that to a loan from you all?" Cause my bet is THEY CAN and WILL unless you have poor credit. ...Better than that see if relative will be your loan company! Say man Uncle Joey I would rather pay YOU 3% than these clowns 8% (or whatever) ....most states allow for title to have two "owners" ..."Legal owner" AKA LENDER and "registered owner" AKA the guy making payments To the lender....I have financed vehicles for my kids ....better they pay me low interest than high interest to rip off artists... plus if they forget and hit me late? No biggie ...whereas a real lender? Big late fees and it goes on silly credit you report....If you relatives you have good relationship with? Costs nothing to ask em!
I've walked into 3 dealerships the past 2 days with 30k cash and they want nothing to do with me offering to pay full price for 2 bikes telling me I can't pick them up at the end of the day I'll have to wait 3 days for them to prep them blah blah blah but I watched them personally bend over backwards for a couple that came in there at the same time with $1,000 cash and 9k financed and told them an hour before closing that they would be able to prep the bike for them to take home today smh. Thank God when I walked out today an older gentleman validated that I am in fact not crazy and he's never seen two salesmen try so hard not to sell something in his life before .
We call them "stealerships" for a reason.
Robert Hunter mine took great care of me in Victorville, CA if memory serves. I had to pay full fees. Interest was atrocious even though I have great credit. ..but they said I didn't. ..then I paid them to go over the bike only to have the front brake fall off on the first ride. Yep. B&B cycles did great by me. My friend faired worse on his new motorcycle. Every time they worked on it, I had to get or my tools because the first ride had stuff falling off.
Great dealer. Great service. I'd go back to them anytime. Not.
Because it rhymes.
This is def honest. I sold cars for 6 years and was a manager for the last 8 months before i said "i cant do this anymore" sales can be so dishonest and can even haunt you mentally if your not in a good place. This guy is honest and deserves your business. When i get a bike ill be calling in.
If I owned a dealership, I'd pay cash for everything too.
Web Wannabe If you can afford the repayments then you can afford to save up!
You'd have to be very very patient person to wait that long. In my situation with a family, house, kids, it would take me 7- 8 years to scrape together enough to buy a a nice new Ktm super duke or something similar. Without finance there would be no motorcycle industry.
If it would take you 7-8 years to save up then if you got a bike on finance the then interest would mean you would have to get a loan over at least 10 years. No one does finance on bikes over 10 years. Either there is something very wrong with your calculations or you cannot even get close to affording the repayments in the first place.
It was this type of mentality(paying cash for stuff) that allowed me to start my own dealership. I have still never paid more than $4,000 for a automobile. and that includes my work vehicles and the vehicles me and my wife drives.
Leo 71 you are absolutely right. Normally what I will do is try to pay cash myself and stick with lower budget bikes. Fortunately bikes age very well. My 2009 R6 is going to be ten years old still and it was cheap. So I was able to pay cash. But financing is required for the industry for sure for the newer models.
Experience from working at new car dealership here; "Back-end" or "Bumping the Rate" is common practice when using financing options through the dealerships. This man speaks the truth and has earned my subscription. Many of the questions answered her are applicable to car dealerships as well. People need to keep in mind these places are businesses, not your buddy that you go have a drink with and can trust with making decisions in your best interests, and though nothing may be verbally expressed, terms or fees may be expressed in the contracts you are signing.
1)Read what you are signing 2)try not to feel intimidated; they need your business, if they want it you should feel comfortable 3)asking questions is the best way to protect yourself; there's a lot of numbers and lines in a finance contract, have them explain it to you so that you understand what money is going where, it's the financial officer's job to do this 4)don't go into the dealership expecting to cheat the system or demanding that they bend over backwards and not make money on a deal, negotiation is a two way street. 5)sales people are sales people, take what they say with a grain of salt, the decision makers are the sales and finance managers. Don't be too surprised when a sales person shoots you better prices/numbers than the Boss(s).
From what I see here Sean/Shaun(sp?) does care about his customers and is giving wisdom some do not have the opportunity to experience first hand without putting themselves in a "up-side down" or costly position. So take this video for what it is. He's guiding/educating everyone watching on how to properly prepare for a business transaction with a vehicle dealership. What he does not cover too much is negotiating the value of the bikes, but that is situational topic and is based on the ability and money invested into the bike by the dealership.
Went to a BMW dealership to look at a new s1000rr and the sales guy wouldn't shut up about the serval used 1000s they had ,every time I asked a question about the new bike he would come back about something on the used bikes I got pissed and left drove down the street and got a new Honda rr
Michael Walden
Better pick, anyway!!
Michael Walden I've always found BMW dealers to be dicks until you roll up in a car or bike worth as much as your looking to buy. Unless your 50 with a Rolex on your arm and a beard.
Could be because the salesman was going to make more on the used than the new
Srkcycles maybe but he missed out completely trying to sale something I didn't want
Sean, Michael I think you two nailed the essence of it....the sales guy was too busy talking to listen, probably driven by a desire to pocket a better commission, and as a result, got "100% of nuffin" -- Thus endeth the lesson! :-)
Honesty goes a very long way. In my opinion, that's one of the reasons you guys are so successful, not to mention providing entertaining content. Cheers!
"And remember...it's not what you ride...it's where you are going."...so inspiring and wise
lmfao I know riight :D ?? LOL
Wow Honest people are still out there! You’re integrity is intact for sure thank you
This guy is so cool that it makes me want to buy another bike just to support his chill integrity
I have a slight problem with your comment about "If you can't pay cash, do you really need it?"
By that logic, almost nobody would ever own a home, or any vehicle worth having, because almost nobody has that kind of cash just on-hand. And waiting until you do, is just wasting precious time you can never get back. I financed my Mustang, Ranger, and Softail ( at different points in time ), so that I wouldn't be stuck without them, until I raised the money to buy them. I know I paid a fair bit in interest, but that's the trade-off for the time I didn't lose. I can always make more money. I only get so much time. I like to think my time is worth the extra money spent.
I do agree that if you CAN pay cash for something, it's usually a better option, though. But do recognize that it isn't always going to be.
Kaptain K good point, cash isn’t possible in this market. If everyone waited until they had cash for a home or vehicle of any significant money. The economy would crash as hardly anyone earns enough to buy a house cash or a £60k car
@@Addy29plus5 Exactly. The entire point of installment plans, is that you don't have to wait to have the product, until you have the cash on hand. Which for my home, is $143K. Which my family is paying on for what's left of 30 years. I just could not be without a home for 30 years, and continuing to rent would take a fair chunk of that money out, making it that much longer before I can.
That's just not feasible.
Loans and lenders get a really bad reputation, but most of the time, they're really not your enemy. Yes, they cost more than you borrow...that's how they make a profit. But as you USE them, and faithfully make your payments...you build a credit rating that can earn you better interest rates, making lending cheaper. And you can almost ALWAYS reduce that extra cost, by paying more than your minimum, reducing the duration of the loan, and in turn, the amount of interest you'll owe.
And with credit cards, you NEVER pay ANY interest, unless you carry a balance more than a month. So if you make little purchases with a card, and pay the full balance when the bill comes in, you'll literally never pay any interest, AND you will build a credit rating. That was my secret.
These things aren't your enemy, as long as you use them properly.
Kaptain K yeah spot on, it’s just annoying everyone talks about credit like it’s some sort of enemy or devil. Most country’s are living on credit hence the debt deficit. If done properly it can really be helpful.
An honest dealer. How refreshing.
I wish i could buy a bike of you but i live in europe. I trust you 100%. I dont know you just give the vibe of a very trustworthy person. Obviosly you are in it to make money but still you wont break a persons finance for your own gain. I wish i could find a dealer like you here in spain.
I went to buy a brand new motor bike from ktm and cash for it, they wouldn't sell me a bike then they told me every bike here in this store were sold 🤔🤔
Then they said we order you one and it will take 6months to come.... Wtf...but why I had cash for it??
Sean that’s some good advice about paying cash.
I’m a guy that owns his house outright. I saved and manipulated past home sales to put myself in a great equity situation and I was able to pay cash for my house. I’ve owned 4 houses in my life and I have NEVER had a mortgage. There are ways to make that happen and I’m so glad I did. I hate payments of any kind so I don’t have any except food , utilities etc. I feel so blessed to be heading into my last couple of decades on this planet without huge debt. Keep that attitude about everything and life will be good for you. I want a bike so bad but not until I can pay for it. As I’ve said before, my bike fund was spent on the unexpected funeral of my youngest daughter. But I have started over again and it will be awhile before I can buy a bike from you guys but I will when the time comes. You gave some good advice and I hope people have the sense to follow it.
In 35 yrs of owning my business I paid cash for everything and I never missed a payroll once for 30 guys. I missed paying myself a lot but never a bill or a paycheck owed for work to someone.
You guys are operating your business as you should be and NEVER put yourself in debt for things that you can do without.
My priorities were : my kids and wife , then my business and the Sunday offering. Never wasted a dime on booze or gambling or smoking.
That’s how you get to own your house by 42 yrs old.
I’m 60 now and it feels awesome !! 🤪🤪🤪🤪
I’m babbling again sorry.
Peace ✌🏻🙏🏻
EPK
I don't think there's any reason to finance a used motorcycle. Unless it's your only means of transportation
usmarinecuv902 used can be $3000-10k.
VERY VERY VERY few people can pay that upfront. You can pay it off fast if you prioritize it and it'll keep you from having to wait 7 months on the ramen diet. Rather than paying it off in 1/3rd of the term limit. That keeps total interest paid low and keeps you from having to whip out $5k in cash/check
ShadowOfDeath24 fair enough
But if saving up is that hard then ,unless your future is secured , paying finance will be a super biatch . I know its circumstance but ive seen a few sorry faces paying finance on bikes they cant maintain.
I can't really agree with that.. Like shadow said, they're cheap enough to finance without a problem anyway. Plus, I can't think of a single NEW bike that I like. The 2008 R1 is my favorite and thats what I'll be picking up next week. There's no way I'd pay quadruple the price for a new 2018 that I don't like. Then there's insurance which gets insane on new bikes.
@@Shadow0fd3ath24 That's actually why I'm looking to finance a bike. I've thought of going to a bank or something, only problem is not sure how that would go with my credit being nothing. Lol. They'd probably want an arm and a leg or just wouldn't do it at all. Which kinda has me stumped, guess I just need to do much more research. I've done a little bit, haven't found a whole lot. (Edit: just noticed I am a year late on this. 😂)
Good to see there are still honest dealers out there thanks
I just stumbled upon this video and thought to myself..."Theres an SRK Cycles by my house." It's you! Subscribed!
Just came across your channel a few werks ago when seriously started doing my homework on buying a bike (yay tax money, haha). Just with this video realized you're in PA. Gonna' have to check out your site then, your vids have earned my respect for honesty and candidness on both sides of the sales table.
Only do finance on assets. Never finance on depreciating goods.
good advice..
Great advice. My dear-old-dad worded it this way: don't buy anything on credit that goes down in value. At this point, real estate and college tuition are the only items on my list I'd consider.
Yeah, like 'assets' don't depreciate.
Tuesdaysgonewtw
Who doesn't know that, problem is currency devaluation via massive government debt and unfunded liabilities crushes 'assets'.
I have been watching your videos for a while now and for you to be honest like that really makes me want to buy a bike from you! Great for watching out for the customer!
I financed my grom with no credit and got a 2 year term. This will help me build some credit to get the car i want at a better apr.
eastbaytouge how old are you..? I got no credit lol... I’m only 22 and I’m thinking about financing a bike. Probably not a grom I live twenty miles outa town and have to use highway everyday that’s legit the only reason why haha. #Gromlife!
Im 22!
Lol just got my bike this weekend same deal. And I’m 22 🤘🏼
What'd you finance it for
Gonna do the same thing.
By far the best marketing strategy I’ve ever seen. I have 4 bikes and I still want to buy from SRKCycles. Nicely done... And, he did it without trolling us. Very brilliant!
Honesty is definitely a rarity these days, great video.
I buy many salvage bikes mostly GL1800's and they are usually the best and safest buys and also cheap to repair. Some of the riskiest buys are clear title as many are home repaired and have hidden damage. Keep in mind the main difference between clear and salvage in many cases is salvage was turned into insurance and clear is either clear or was damaged but not turned into insurance and home repaired. I also am leery of older bikes with low miles. Not riding regularly is hard on bikes, much worse than putting on more miles. Floods need to be avoided, never a good buy. Lot's of good info here, thanks.
That's why I buy flood bike because most people don't know how to properly dry and repair flooded.bikes. I make good money on these and.havent had a.problem yet. Good for.me!
Nice video .... information that people should know ...
Really liked this video, screw the people who said it was boring, ain’t nobody forcing them to watch your stuff! In the market for a newer bike myself and i learned a good bit from your vid, thank you!
The fees is a very good point and rightly stated as #1. I buy:: I know what I honestly think I can buy for. If it is advertised at $5,000 I know tax and title is going to be $400. Other dealers are advertising the same bike at $4900-$5400 so the advertised price is probably the best I'll get. I say:: I'll pay $5400 out the door. They talk fees and I say, write it up ANY WAY you want, but I'll hand you $5400. They often do adding freight or prep but reducing the bike price.
Adding in the fees reduce the taxes often because they write a lower bike sale price, and therefore they end up splitting the extra $400 with the state is fine with me. If I bought it from an individual and the tax approved state price was $5000 then I'd pay the full $320 in tax and $60-90 plus my time in title and tag work.
I think your method is better. Just tel them the price, no addons except governmental. Most kids aren't as experienced as old dudes.
S Tho some states do taxes on full price, not just the item. They tax on the fees too.
nyetloki. Possibly, states have different tax laws. Have you bought from a brick and mortar dealership with full paperwork at closing, including the breakdown? Do you know your state and county percentage? Have you carefully checked their math?
I know you'll say yes, but just asking. If the price is all together as this dealer dies, it may well be tax on one price.
Tax depends on your zip code.
Dealerships are privately owned and have different operating cost. Service flat rates are very different as well.
I bought my first bike from a dealership 2 months ago. I figured since it was a ‘16 Ninja 650 with 3.5k miles on it *from a dealership* that they would tell me if it needed anything. Being the new rider that I was, I walked in, said “I want that one” and took it home. A month later, I looked at the sight glass for the first time.
*THEY SOLD ME A BIKE WITH A QUARTER QUART OF MOTOR OIL IN IT AND I HAD BEEN RIDING ON IT FOR A MONTH!!!!*
Needless to say, they got an extremely angry phone call the following morning.
I agree, I tried buying a bike from Broward Motor Sports in F.L and they had MANY hidden charges, I walked out!
Rick Riccardi I’m supposed to go into Broward Motorsports tomorrow, what should I look out for?
If you found out about the fees they weren’t hidden. If agreed to pay them that’s on you.
Great to see a straight up solid dealer and a owner with good character.
My next bike it would be worth the trip to PA and deal with SRK.
Thanks for your videos
Wow, buying a motorcycle in the USA is incredibly complicated...the land of the 'free' has more rules than anywhere else on earth!
Big T exactly what I was thinking...
Welp, luckily in Europe we have a more straightforward kind of business model and luckily we don’t have that much -scammers- bad salesmen
It’s really not complicated at all.. pick your bike, negotiate price, pay for bike and leave with bike.
@@richboii6597 except in my experiences there's no negotiation. When one salesman offered my friend working hard to play hard ball a doc discount so then I saw him slip the money back in elsewhere.
When I caught him he said are the prices fixed? No. Um...if you offer a discount and put it in elsewhere that's a lie. I said it to his face.
My friend's eyes bulged and he said he was glad I was on his side because if I wasn't he'd punch me in the face! Lol
We paid the same fees at another dealer without the tricks and lies. It may be awful, but it's better without the "promise" of negotiation when you get nothing out of it.
Big T I could agree with that in some ways but we can also ride anything we want after our endorsements. It takes alot of countries like The U.K for example they have to start on a 125. I know their rules are based off hp but I dont remember the exact numbers. So I mean we have complicated dealerships but once you get the bike their isnt much rules
It can be quite simple, but a lot of times the customers try really hard to make things complicated. But you also have to consider that there are several other deals going on at the same time you are in the dealership. to combat this, go there on a weekday morning, or early on a weekend morning, before the crowds get there.
You can also go online and do a lot of research and find out which dealerships in your area are good and which ones are not so good to do business with. Then make an appointment with a salesman at one that is rated on the top of the list. Tell the salesman which bike or bikes you are interested in and that will give him time to prepare a bike for you to look at and possibly test ride. It will also give you time to look at the manufacturers web site and have all of the finance and rebate/discount information. You can also look up and see the dealer invoice, so you will understand how much mark up(if any) there is on the bike you are looking at.
You can also use this time to try and negotiate the sales price if you are financing, or the out the door price if paying cash.
Buying a bike or car isn't really all that hard in the States.
I criticize you harshly at times, but this video really showcases your honesty and integrity. I would buy from you in a heartbeat. I dont have to like what you do at times to like you as a person. 👍
Staying out of dealerships works for me.
love your thinking
Looking to buy my 2nd motorcycles and I came across this video. I appreciate the comments and the advice. I don't buy a lot of motorcycles so I appreciate the honesty and be able to deal with someone who's straight fold and up front.
Would you like a glass of water?
The1khronohs I was about to say I can’t be the only one annoyed by that 😂
What is up with the nasal congestion?
Thumbs up for being a financially intelligent dude and sharing that knowledge. Debt free is underrated.
Lol this guy plugging his own shop of course “we don’t do that” 😂
Julian Steele He doesn’t. I know him
Just realized you guys are close to me, i'm like and hour from lancaster. But you are showing honesty and integrity, will bring you my business.
10:04 Basically my boss and I browsing bike websites while at work on lunch break. I'm looking for a super-sport and he wanted to make sure I wouldn't become road-spaghetti. Gonna be getting an R3 in the Fall. Hooray for Florida and it's year-round riding season.
Charles S. Get a 600/650 if you can afford it
Charles...Also check out the Kawasaki 400. Nice bike and It's tops in that class.
Do not buy more bike than you are comfortable riding ! Riding should be an enjoyable experience. Get the R3 enjoy riding for a few years then after it is paid off if you want something bigger and better you have the trade in. One thing this video did not address is the cost of insurance, talk to your agent about this "hidden" cost before buying anything. Enjoy your year-round riding season and best of luck from South Dakota.
blipco5 lmao ktm rc 390 destroys the Kawasaki ninja 400 😝
+SoulDreaper ....You mean the KTM 390 will destroy your wallet. Their motors are blowing up.
good advice, more dealers should be like you. Last time I was at a Harley dealer, it couldn't be more obvious that they were trying to make money any way they could and were so pushy, didn't seem interested in actually giving me a good deal.
I finance my r3 i love my frist bike then turn around got loan from my bank. 2 month's later paid it off i have t now..love ur video
Have been riding for 13 years now and I have always bought pre owned bikes. I've had my gsxr 1k for about 3 years now and was planning on getting a new 2019. I've worked very hard to repair my credit so this video was super informative for someone who's planning on financing a portion of my new bike. Dealers around here arnt exactly the most honest nor best priced so the honesty from a dealer as yourself is much appreciated. Ride safe.
When you have a 634 credit your interest rate is always going to mess you up 😢
You are a good guy who is not greedy. I sold cars for years and know the business and you are a great person. Is not easy doing what you are doing
"Does every motorcycle dude needs to grow a Santa claus beard"?
I enjoy watching these videos, especially since I'm doing the research currently to get my first bike.
You should sell four wheelers, I would buy one from you, because your honest
Unsub did you two plan that? Awesome! Comment on my UA-cam. 😂
Sean I want to say thank you. I am looking to buy a motorcycle. I've always wanted a Honda Shadow and your videos on the shadow have 100% sold me on it. Your behind the scenes on dealerships have helped me a lot in what to watch out for, Fees, intress rates, pushy sales men.
Dark EdgeLord Shadows are decent bikes
Good advice on financing. I did buy a 2018 two tone scout ABS as first bike. At factory promo 0.9% the total interest over 60m is like less then 400. But you have a great point - How annoying is it going to be to pay that 230 a month a few years from now? Think I'll apply 50% to principle with first payment.
Appreciate the honesty, brother. Love it that even though it goes against the possible pocket book in your jeans, it's the right way to do business in the heart of the consumer. I seriously hope that this brings folks to your place in spirit of that fact.
Hahaha “hatchery fees” yooo that was too funny!!
Good video. A dealership in my area (not naming any names) sold a Suzuki Hayabusa to a friend of mine who had never owned a bike. I no longer do any business with them for that reason alone.
He Looks like my rabbi without the cap
oy vey
Chopbreaka he sounds like my rabbi with a hot potato in his mouth.
Your rabbit wears a hat?
Chopbreaka I don't know if you even have a Rabbi, but I knew one that'd laugh with you on this. Great sense of humour. 😆
oy gevalt
I found a bike a couple of months ago listed for $7k brand new (in clearance). I called the dealership and the table cost was $10k. $3k dealer fees on a $7k bike. It was crazy, but it worked out for me. I ended up finding a used model of the same bike from 2006 with only 5k miles for $3k a little later and was able to pay cash.
When you recorded the video they had 170k views. Now you have 248k views. Great job!
40k more views in a week? Good for you!
Love your clear, honest commentary. If I could buy from you I would.
When I buy a bike I always pay cash for a bike specially when you buy a second hand bike
Shaun S
very very hard to do if it's an expensive one. Not many people ANYWHERE can whip out 3-15k in cash
If you can not whip out 3-15k in cash you should not buy something you actually do not need.
NeonIceCube. Who says that just because they can't afford that price that they don't need it? Huh? EXPLAIN that one. It's called saving money for it. Shut up idiot.
Shaun S you should never pay cash for anything a very wealthy person and someone who knows how to handle their money always uses other people’s money (bank money) if you have good credit you can get a 4% loan rate and you can make 6% on your money by investing it there for still make 2% income if you pay cash you have no income from your money
ShadowOfDeath24 dude, I’m 19 and I legit saved 19k and a separate 3-5k for a bike
Great video, brother! I always learn something new new from you guys! 😊
Ambler Powersports PA has a R Titled 2005 R1 with 42 THOUSAND MILES!! Asking $5000🤣🤣😂😂😂🤣🤣
Slimphattz MrJamdown You'll always find a sucker somewhere that'll actually buy it!
Slimphattz MrJamdown i bought my first bike from ambler, a beat up suzuki gs500 i sold a few month later. It wasnt pretty but it was cheap and they replaced the rear tire free when i said something about it
My boy got his 09 Gsxr from there. (That he crashed on RIP). He got it for an ok deal, but thats R1 someone was drunk when they priced it.
Lotta money for 06 and 42 thousand miles..
I'm glad you sell based on buyer experience. A friend of mine that's NEVER ridden a motorcycle in her life just went and bought a Ducati Monster! I was appalled. Paying cash has a hell of an influence. She fell over practicing turns and went and bought a Grom to practice on... SMH
First bike is best: naked classic or adventure bike.
Toomas Argel nekkid!
haha yes ..a Suzuki ts125 rescued from a skip , no brakes so taught you plenty upfront observation.
Wow. I appreciate your honesty as well as the information. Thanks Shaun!
I’m gonna guess you’ve heard of Dave Ramsey ;) “the borrower is slave to the lender” Proverbs 22:7
+Jordan Sparkman yes sir, he was one of the reasons I got out of debt
Us as well, didn't happen over night but gave us the tools to get it done. Program is well worth the cost, effort and time.
Thats awesome man! Live like no one else, so later you can live like no one else.
Awesome! FREEDOM!!!!
*"The borrower is slave to the lender"
When I was looking to buy my first Motorcycle back in 2006, the dealer kept trying to sell me an 883. I was specifically looking for the 1200 model, and made that clear. He went so far as to say "you can buy the kit and make it like the 1200." My reply was "Or, I can buy a 1200 and save the money on the kit. Then later Ill build the 1200 bigger."
I got a brand new R1 2016 for $12,000 out the door but I got it that cheap cause I just bought it and it's 2018 so it's wat dealers call a left over anytime goin to the dealer ask wat that have that's a left over from last year or even the year before that they will sale cheap to get new models in.
you can get some killer deals on new old stock for sure
And dealers still win.
Nope paid $12,000 cash when the 2018 are $17,900 so I say I got a pretty good deal on it
Duvalcruza904 you spelled what rong
Duvalcruza904
Yes! That's what my first bike purchase was, a holdover from the previous year ( 8 miles on the thing ) with $1,000.00 shaved off! It was probably left on the floor cause it wasn't a supersport. But it has served me well up to now.
Thanks for the honesty. I ride an 11 year old bike and really want something newer, smoother, and more amenities. Yes, I want a new Indian/Harley/Yamaha. Truth is I’m likely gonna have to go back to your video on being content and paying what I can afford and get a cheaper bike that suits my needs without worrying about “The Brand”. Thanks!
I’m glad that you’re being pretty honest about this. I live in Maine I don’t get to your area. Unless you was to send me a bike for free not sure I could afford to buy a bike from you and have it sent here being on disability and all. But I do appreciate your honesty. And if I lived in that area I would definitely buy a bike from you.
Greetings from another Mainer! (er, Mainah, that is)
D L greetings fellow mainah. Lol
For you Nor'easterners there is National Power-Sports in Pembroke NH. I bought my Dyna from them on their layaway plan in November "15", paid it off in 6 months, and the first week of April 2016 they crated it up and shipped it to me. They function the same way as SRK. No commissions, just straight talk, good prices, honesty and customer satisfaction.
Doug Ashby good to know. Thank you.
Why hello fello Mainers! :D
Preciate the info man. Keep up the good work!! You saved me alot of grief!!! Alot of people really need to watch this...
You lost me with the Deep Nasal Breathing & Lip Smacking !!! Damned !!!
Brent Evans I didn’t notice it until you said something ugh thanks lol 🤣
Brent Evans 😂😳
It really isn't about where you're going. Where you're going is your excuse for riding.
What it's about is the ride. And to some degree, maybe a big degree, it is about what you're riding.
Good vids. Keep on keepin' on.
Put speed 1.25, and finish earlier.
A honest dealership respect to you man wow I’m very impressed by your honesty
1) EVERY car sold has a DESTINATION CHARGE. Motorcycles don’t MAGICALLY APPEAR at dealerships. And profit MARGINS on NEW motorcycles are a joke. That’s between what the manufacturer charges the dealer and the MSRP. AND it’s the SAME percentage on a $3,000.00 bike as it is on a $15,000.00 bike, atv, or scooter. So yes, dealers pass on freight and prep costs to buyers, and no, you don’t because you sell USED BIKES. MOST dealerships in the Northeast don’t allow test rides because of LIABILITY and LAWSUITS. Some dealerships do, though. “Motorcycle upsell”... not generally true, although there may be a spiff that would maybe make a salesman steer you toward a certain brand, but not upselling for commission’s sake. Most States regulate how much upcharge can be added to financing, and nobody is holding a gun to a customer’s head to buy/finance a motorcycle. Sorry if this reply doesn’t flow too well, and the caps are for emphasis, not yelling.
What you said is true, and dealerships are like any other business, and HAVE to turn a profit to survive. The main issue is that they should be up front about it, instead of advertising one price and then adding to it when you show up. Bananas also don't magically appear at the grocery store, but the cost of shipping is built into the advertised price. It's the deception that people have a problem with.
That 'hidden cost' is due partly to the way the manufactures advertise. They show you the customer a MSRP, then they sell the bike to the dealer with a shipping fee(destination fee), and some of the manufactures charge the dealer a setup feel as well. Then the dealer has to pay someone to prep the bike. So as a buyer, you will be passed the fees, allowing the dealer to actually make enough money to keep the lights on in the showroom(not necessarily enough to make payroll). Now some dishonest dealers will jack those prices around, and I would stay clear of them. But when I did sales, I would always inform my customer what the fees were going to be before my customer even sat on the bike, let alone discuss final pricing. I was not a commissioned salesman either, and when I was a salesman; tax, tag, title, destination/setup fees where usually $500. So if Honda lists the GL1800 at $27,000, and a dealer lists the same bike for $27500; are you going to stop in and buy from them, or go to the next dealer down the street advertising at $26995.99? Then lets talk about options.
Now if this guy is acting like he's special because he doesn't charge you a setup fee or a destination fee, that's because he's a USED BIKE dealer. Used bikes don't come with a destination fee. You purchase them outright from auctions or private sales, add a percentage for a profit margine and wait for someone to buy it. The upside is the bike fully belongs to the shop, there are no manufacturers passing fees or billing you for inventory monthly(known as a floor fee in some areas). Just add $500+ to the top of the number you paid...Down side is when you take a bike in that you can't sell for the money you have in it, and it ties up funds for other purchases.
You sound like you were an honest salesman, informing your customers of the extra fees as early as possible. As you have explained, the added costs are just part of the industry, part of the dance of the manufacturers and dealers. I don't buy new bikes or cars, so I'm unfamiliar with the dance, but probably this is common knowledge to most people. So while uninformed people like me may be outraged to find the advertised cost different from the final real cost, the savvy buyer probably knows it's going to happen in advance, so no outrage. I'm always annoyed when any industry has their own rules that they expect everyone else to just "know", but in this case it's probably so much a common practice that most functioning adults are aware of it.
To your example of the two dealers, the one that advertises the true cost would be penalized over the dealer that advertises the cost before the add-on fees. That's a real shame. My idealism would love to see a dealer make a big deal in his advertisements about ***OUT THE DOOR FINAL COST!!! ALL TAXES AND FEES INCLUDED!!!***. It seems like that could be an opportunity to separate that dealer from the others in a good way. But I don't own a dealership and am not in the position to offer advice to those who do. Thanks for your reasonable answer. You seem like a good guy.
Oh this one i like!! ...
Eggs or bread don't magically appear either, and you are not charged 120% the cost of "appearance" at the shelves, then add 50% of the cost of a new tag or transfer. the margin suggested by manufacturers takes into account the freight pretty much like every single product transported for "consumption" in the planet, or "plus"you can add it, a reasonable one. It may not be the 40 or 50 % that you guys are trying to shove into people's asses., but is still a good margin that, if you, dedicate yourselves to sell bikes instead of ripping people off can make a decent and honest! living. Good thing is now there is a way to counter act that, there is plenty of offer ups let go and craigslist... Plus, the fine gentleman we just saw on this video!!
@@johnnyfever9708 Since your on this computer, you should be studying up, on how buying cars and bikes work. Buying dealer stock may get you a better deal than having them search for a certain bike or car you want. Loyalty programs as so work. It knocked $3,000 off the hard candy custom paint on my Harley.
This was a very important, quality video. Thanks Sean!
They are honest guys Sean sorted me out when I had a problem
+keith sheridan hey Keith, how you been
Srkcycles all good Sean back to normal life after trip. Heritage is running strong. I’m back over to Tennessee in June but just for 8 days.
Very informative. Your honesty is appreciated.👍🇺🇸
thank you, we do our best
Did you say you’re in PA? Where is your shop? I live in Carlisle
we are in lancaster
+Sixwheel Carlisle landisville pa
I don't know what they sell there, but as far as manufacturer dealers (BMW, HONDA, DUCATI, etc) go, freight and set-up are not hidden fees. They're right on the website listed as "not included," as it is with new cars. Usually listed as, "Destination".
When a dealer tells me a bike is going to kill me... I walk out immediately. No sub.
Chris Bewick
Yup. I'm in charge of me, and you know nothing about me.
When I sold my R6 on Craigs, I had 5 hits the first week who came to try it. Every one of them was a first time buyer that I turned away. All young hothead kids, no idea what they were in for. Being a very big dude, they honestly thought I was selling it because it was "only 600cc". It was nearly impossible to explain to them that I would not sell it to them because it was probable death sentence. In the end a guy who wanted it just for track racing took it home, and I felt alot better for it, despite the hurt feelings and the fact that I plain out said in the post "Experienced, endorsed riders only. Not a beginner bike, especially as I've tuned it."
If those young newbie riders want to be a stain on the pavement, I'm not going to help them do it.
Oh hell, for us salty old farts, sky's the limit. We do stupid stuff and get greased, well, all they will say at our funeral is "He died like he lived. Fast, fat, and stupid. Like a boss."
19 year old new rider? Different story, lol
If your willing to buy a super sport for your first bike with no other mc experience despite a dealer telling you its bad idea. then I have done what I needed to do to sleep at night.
Srkcycles the difference between 'a bad idea' and 'it will kill you' is huge. Also 'you're'. Sleep well
A life lesson to American people: if you can't pay cash.. You can't afford it. Plain and simple. Unless it's a house, that's different.. But cars, bikes tvs phones..
are pirellis good bikes?
texas tough lol those are tires.
I personally like Michelin bikes the best.
texas tough dont waste your money on pirelli brand bikes. Very unreliable in rain. If you want reliability buy a dunlop 650.
texas tough dude. That's a type of tire not a Motorcycle. Lmao! Why is it you have internet access but didn't Google that question before posting your question? 🤔???? LoL!
Really !? They make tires
I was thinking it would be more beneficial to under sell CC's to a customer. 1) There going to come back alive. 2) There's going to out grow the bike. 3) Customers feel more of a bond with there motorcycle dealers if they progress with them throughout there growth. And lastly D) Your going to know that customer better (likes , dislikes etc) and have a loyal customer for life as well as a possible friend.
I fell asleep.
tom rebel if you dont get your license revoked beforehand, youre going to die on a bike
tom rebel That’s ok, not everybody has the IQ to follow a 15-minute logic argument.
You're a special snowflake, don't you?
*aren't you
Thanks! This argument is 10 times more interesting than the video.
Nice to hear honesty. Good job.
Great video of honesty. I paid half cash and half financed for my 16' dyna Lowrider and i actually pulled money out of my savings plan to pay it off because they were making a ton off me. Ill never finance again. Great vid and i hope you helped out a few people who thought about financing.. People,, dont do it trust me, youll throw your money away.
Good man. I am going to your website after the video to check out your inventory.