exchange

How To Buy A New Motorcycle from a Dealer at RevZilla.com

spurgeon year with RevZilla and today

we're going to discuss with you how to

buy a new motorcycle so years before I

started working at RevZilla alongside

this big galoot I actually worked at a

dealership level where I work with new

riders to help them navigate through the

buying process and that's what I hope to

do with you in this video we're gonna

walk you through how to buy a new

motorcycle this would be part of a

larger video series where we discuss

with you how to choose your motorcycle

as well as how to buy a motorcycle we're

going to split that buying process into

two separate sections so if you're

interested in how to buy a used

motorcycle from a private party let's

roll MLM comes into play he actually has

a separate video walking you through

that process so make sure you subscribe

to us on youtube to keep up with all the

content we have rolling out at

revzilla.com now the first thing you're

going to need to consider before ever

setting foot in a showroom floor is

insurance costs keep in mind if you're

planning on financing your new

motorcycle nearly every bank out there

is going to require you to carry full

coverage insurance and full coverage

insurance can get quite costly so there

are a few ways to circumnavigate some of

those additional costs first of all

consider a smaller displacement

motorcycle oftentimes a larger

displacement bike is going to carry a

higher insurance premium with it so if

you go with a lower displacement bike

not only do you save money on the cost

of the motorcycle but you're also going

to save money on your insurance premium

and make sure you shop around to

different insurance companies out there

because different insurance companies

rate motorcycles differently when I

bought my first bike I actually saved

about $1,000 a year

over what my auto policyholder was going

to charge me so it's really important to

look at what's available out there from

a variety of different companies now

another way to save some money is to

consider an MSF discount a lot of times

insurance providers will offer you a

five or a ten percent discount on your

coverage if you've taken some kind of

additional rider training really what

the insurance companies want to see is

that you know how to use and ride the

motorcycle another thing to inquire

about would be whether or not they're

going to offer some kind of accessory

coverage keep in mind unlike auto

policies which are really kind of cut

and dry a lot of times you can get

accessory coverage worked into your deal

so not only is the motorcycle covered

but the gear that you're wearing as well

as anything you've added the biker knee

covered as well now the final thing

why're about is going to be gap coverage

it's going to cover the gap between what

your bike is currently worth and what

you currently owe on it so any

depreciation that occurs you're not left

holding the bag on that the last thing

you want to do is to be continuing to

pay on a motorcycle you no longer own

because of some kind of an unfortunate

accident

now speaking of making payments on the

motorcycle once you have your insurance

figured out that's going to be the next

step in the process how are you planning

on paying for this new bike there's a

lot of folks out there that would

encourage you to pay cash I'm not

necessarily one of them because I think

that financing a motorcycle is a great

way for new or younger riders to

establish credit so when they go to make

a larger purchase later in life that

credit is there waiting for them to use

now I'm not saying to walk blindly into

a dealership it's always important to

check with your local bank or credit

union to get an idea of what they're

willing to finance you for before you

walk into the dealership floor having

that knowledge in your back pocket is

going to be key now before you can ask a

motorcycle dealership to beat your offer

you have to have one in mind and that's

going to bring us to the final step in

the process

choosing a motorcycle dealership that

you trust one of the biggest problems

that I see with motorcyclist is they

equate a good price on a motorcycle with

a good dealership experience and it's

simply not the case

personally I would rather spend a few

extra dollars in the motorcycle if I

know that the dealership is going to be

there to support me for the entire time

that I own that bike so the question

becomes how do you find a good

dealership well the easiest way to do

this is simply spend some time hanging

out of them so find your local

dealerships and every other Saturday

show up for an hour to walk around see

if they're hosting any different events

chances are for dealerships having a

barbecue and they're having a hard time

getting people to show up for free food

it's probably not the place you want to

go buy a motorcycle

now as for me I've done my homework and

I have an idea of where I want to go to

buy my next bike so let's head out right

now and see if I can't procure myself a

new motorcycle

[Music]

so we're here today Martin moto and you

might be asking yourself why well the

answer is simple this is the type of

dealership I'd recommend for you to look

for in your neck of the woods it's a

full-service shop with a wide variety of

different makes and models under one

roof full financing sales service as

well as parts and they've got loaner

bikes for you to choose from for your

bikes in the shop now in addition to

that they also host a wide variety of

different events and they really work to

foster a motorcycle community so

needless to say is my type of place

let's head in right now and check out

and see what they currently have on the

showroom floor

[Music]

so the first thing you want to do when

you get inside is spend some time

looking at the selection of motorcycles

available after all this is the fun part

there's a bunch of brand new shiny

machines sitting around for you to take

a peek at now chances are you already

have an idea and your noggin as to which

motorcycle you're there to see but don't

be afraid to you know see if there's

anything new available that piques your

interest and a showroom like Marten

there's pretty much one of everything

represented here for you to look at when

you're determining what you want to get

now if you're at a smaller dealership

that might not be the case so keep that

in mind if there's a bike that you have

in your head that you think you want you

don't see it don't be afraid to ask if

maybe it's hanging around out back now

as for me I've done my homework and this

Honda CB 500 F is gonna make a great

around town commuter well saving money

on gas the one thing I haven't done

however is I haven't spent any time on

the motorcycle itself I'm a larger rider

and it's going to be important to make

sure that I fit on this bike so that

would be a great time you get a

salesperson into the mix hey welcome to

Mart moto I'm Rob hey Rob I'm spurge

it's nice to meet you

so I've been looking at this bike I've

got some info I wouldn't mind a little

bit more information on but really what

I want to know is can I sit on this for

a while

absolutely feel free to throw your leg

over any of the bikes in the showroom

make sure you're comfortable on them and

while you're doing that I'm gonna go

ahead and get information on this Honda

awesome man thank you so much so like

lemon I discussed in our how to choose a

motorcycle video this is really

important you want to make sure you

spend time sitting on the motorcycle and

making sure you feel comfortable this

would also be a great time for you to

talk to your salesperson about the

availability for a test ride now test

rides are gonna vary drastically from

dealership to dealership but if you get

the opportunity to take one out for a

spin

it's always going to be great you can

also inquire about the availability for

a demo day demo day is where a

dealership is going to open up their

entire fleet and you're gonna be able to

test out a variety of different

motorcycles to see which one fits you

best

but the cold hard truth of the matter is

if you're a new rider if you're

wet-behind-the-ears

there's a good chance here me buying the

motorcycle without getting a chance to

ride it first and that's really why it's

so important that you spend really just

time in the dealership on the floor

familiarizing yourself with the

motorcycle there's also a great time to

carry on that conversation with your

sales rep this is a chance for you to

ask questions about the bike the buying

process and if they don't have the

answer for you like you just saw Rob

he's going to go and get me more

information about the bike they should

be able to kind of just make the process

seamless and easy for you while making

you comfortable at the same time so

let's check back in with Rob and see

what he found out for me on this CV 500

hey thanks man

so I have to admit I'm a little bit torn

between the non-abs and the ABS version

is there anything you guys can do for me

on the price of the ABS bike

unfortunately there's not a lot I can do

with this bike I do have some left overs

in the back though that have abs are you

set on getting the current model year I

mean not really as long as it's the same

bike it doesn't bother me in the least I

would be interested in hearing about

prices for additional warranty des

absolutely let me get started working up

some prices on both models are you going

to be financing with us today so here's

the deal I have secured financing

through my bank if you can beat that

number however I'd you know be very

willing to work with one of your banks

absolutely let me get started on this

and then I'm each other's sales desk in

a few minutes thanks man

so what most riders might not realize it

on some of these smaller displacement

bikes there's not a lot of margin left

for dealerships to negotiate when it

comes to price so I wouldn't expect to

see too much of a price break on some of

these smaller bikes however there are

some additional ways you can save some

money for example if you're okay with a

left over model a bike that's not the

most current and model year but it still

comes with a full factory warranty you

can usually save a few dollars on the

left over because of rebates that the

OEMs have applied to that bike if you

absolutely have to have the newest

brightest shiny this model year machine

you can always talk to your dealership

about maybe some value add maybe some

parts some accessories some gear or

additional warranty a lot of times

dealerships are willing to work with you

on this especially if you're financing

the bike through their dealership now

speaking of which this is a time the

most motorcycle dealerships are going to

know how you're planning on paying for

that bike they want their money you want

a brand new motorcycle sitting in your

garage so there's a few ways you could

handle this you can always go to your

bank and get a pre-approval and just

treat this like a cash transaction the

other way you can do it you could simply

pay cash but my guess is a lot of you

out there going to want to be

considering financing options for this

motorcycle so while it's always a great

idea to secure financing with your bank

ahead of time I'd always recommend

giving the dealership a chance to beat

your financial offer and I say

is because the last time I came in to

buy a bike they were able to beat my

bank's offer by a substantial amount

getting me a better interest rate keep

in mind so all these guys do they sell

and finance motorcycles another

advantage of actually financing through

a dealership is gonna be the fact that

you can work in additional parts

accessories and even warranty into the

financing itself so instead of having a

larger upfront cost to outfit the bike

the way you want it you can simply work

into your financing and get a small bump

in your monthly payment and the beauty

of doing this at the dealership level is

you don't to go back and forth with your

bank multiple times to get new approvals

for new amounts for that cost as it

begins to rise speaking of which I'm

gonna check in with Rob right now I'm

gonna see what he was able to do for me

on this little Honda all right what do

you got for me all right so like I

thought I can't do anything about

pricing on the bike you were sitting on

but I do have that left over in the back

that has ABS and it qualifies you for

some additional rebates as well as a

discount on an extended warranty should

you pushed it today dude this looks

awesome so just so I'm clear though this

is the exact same bike just with ABS and

a model year older yep exact same bike

and I was also able to get better

financing than you were gonna be able to

get with your bank pending a credit

approval sounds great to me my only

question is kind of leave with it today

I want to go ride absolutely I haven't

started prepping it while you're on tour

paperwork that way once it's all set we

can get you on your bike today sounds

great man thank you so this has

obviously been a simplified example of

how the buying process works but it

should give you a good idea of what you

can expect when you're getting a new

motorcycle some of the things we didn't

talk about were additional warranty

accessories as well as service contracts

if you're not familiar service

contractors where you pay a little more

money upfront for an additional set

amount of service if you're the kind of

person that doesn't like work on your

bike or you rack up a lot of miles it's

gonna be a real value add for you the

other thing to note here is that this is

the point in time where I'm forking over

the cash as the buyer if I'm using a

bank cheque or from just paying cash

it's gonna be pretty much a done deal I

hand over the funds if I'm going through

financing with the dealership I would

sit down I take some time to fill out

the extra paperwork to make sure that

I'm squared away things like the actual

loan application would be taken care of

at this point in time the other thing

that you didn't see me do was just

gasps anything about taxes or government

or regulations and that would be taken

care of at this point in time - one of

the value ads that you get from

purchasing at a dealer is that you don't

have to go somewhere else to take care

of all that additional paperwork the way

you would if you were buying at a third

party here at a dealership they take

care of the licensing the registration

as well as any kind of a license plate

or taxes that would be associated with

that Uncle Sam's got to make their money

one way or another it's just nice the

dealership is going to take care of all

that paperwork for me now you heard me

to ask rob if I'd be able to leave with

that motorcycle today and that's because

I want to be very clear with them I want

that but it's important for you to do

the same you need to set your

expectations of what you want out of the

motorcycle buying experience and that's

because if you're at a smaller

dealership they might have to order the

bike in or they might have to prep the

bike or on credit or even assembly in

some cases even a dealership like Martin

like this there's gonna be some service

it has to be gone first so just make

sure you're very clear on what you're

expecting from them and you shouldn't

have any disappointments now I was clear

with Rob I want to leave on that bike

today so I'm gonna sit down and finish

my paperwork and then I'm gonna meet you

guys all out in the service department

on my new bike

[Applause]

[Music]

you

[Music]

so the paperwork's done the bike is

serviced but there's still a few things

that need to be looked at before I leave

on this motorcycle so you want to make

sure a member of the staff goes over the

bike with you you need to know where the

controls are located in this case that

member of staff is gonna be robbed the

guy that sold me the bike so easy to

walk me through exactly what I can

expect from a control standpoint he's

also going to make sure I know exactly

where the toolkit as well as the owner's

manual are located he's not going to be

done there

he's then going to introduce me to the

service staff because once the sale is

complete the service staff is the member

of the staff that you're going to

probably interact with most at a

dealership level for taking the bike in

for its regular maintenance as well as

any possible warranty work that might

pop up so it's really important to

understand exactly how they operate ask

them a few questions for example can you

just drop the bike off for service do

you have walk-ins or do you always need

a schedule appointment in addition of

that do they have pickup service will

they come to your house and get the bike

for you or at the very least if you drop

the bike off do they have some kind of a

loaner bike program free to get back

home once you're done understanding

exactly how your service department

works we'll take all the guesswork out

of having to drop the bike off so

there's no surprises down the road now

the final thing you need to figure out

before you leave here is how you getting

the bike home so if you're not

completely comfortable in your riding

ability with this motorcycle it might be

the time to call a friend or a family

member with a truck or a trailer and see

if they'll help get the bike back to

your house or the very least reach out

to the dealership themselves and see if

they have a way to drop the bike off for

you as for me I'm going to do this the

old-fashioned way

I've got insurance on the motorcycle

I've got my gear here so I'm going to

suit up I'm going home on two wheels

[Applause]

[Music]

so keep in mind that everything we

talked about today is just an example

and every dealership will be a little

bit different if you want some

additional research right now you can

head over to comment read and read one

of the articles we penned on you know

how to haggle for a bike some of the

different bikes that are available for

you as well as how to select the right

bike for you this is all gonna be

valuable research if you're just

starting out as a motorcyclist you can

always check out one of our other videos

to LEM LEM and I did a video on how to

select a motorcycle and he also did a

great job helping you navigate the

perils of Craigslist in how to buy a

used bike so make sure you subscribe to

us on YouTube to keep up with all the

content we have rolling out at

revzilla.com as for me I want to thank

you for joining us today at martin moto

as we discuss how to buy a new bike i'm

spurge enjoy the ride

[Music]