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buying a new bike with "cash"

  #1  
Old 09-04-2014, 03:11 PM
ikhoudvanu199's Avatar
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Default buying a new bike with "cash"

I have never purchased a vehicle from a dealership before with "cash" (not financed). I am planning on making my next purchase by just saving my pennies, and paying for it up front.

I am just wondering what processes I need to go through for this.

I'm planning on buying a 650F

-Do I actually walk into the dealership with like $10k cash? (Seems a little unsafe to me.) Or do I write a check, or can I pay with my debit card?
-I've heard many people say to tell the salesperson that I plan on paying in cash, will this get me a better deal/more negotiating power?
-What kind of fees, etc will I be looking at(I know they vary a lot state to state, so just a ballpark)
-Any other tips for someone who has only bought vehicles financed?

thanks
 
  #2  
Old 09-04-2014, 03:29 PM
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Cert Check, Check, Debit Card, All adequate ways to pay. Cash too, but if you walk into a dealership with I believe 10k or more (Prolly different now) They make you declare it and stuff so its best to avoid that if you can, just another hassle. Cash is going to be your highest thing in regards to negotiating. They can and will most def. crack you a deal if you have cash. But, let them talk numbers first, then ackowledge the cash and work out a deal. If they arent willing ot budge then you are at the wrong place. Usually the big dealers have a bit more room to negotiate considering more of them are about volume moving instead of trying to penny pinch on each vehicle for what you may find at a smaller one. Dont hesitate to shop around either. WHen it comes to cash you really cannot get any better from your standpoint. Well you got tax, so whatever that is in your state based on the vehicle amount. Reg fees and plate fees and all of that add af ew hundred. Insurance and all of that set aside another couple hundred. Varies but should be decent to start ya off, good luck.
 
  #3  
Old 09-04-2014, 03:52 PM
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thanks for the info! there are only 2 honda powersport dealers in my area. so I plan on pitting them against each other to see who i can get the better deal from. good to know that i can just use my debit card, thats the easiest thing to do, haha
 
  #4  
Old 09-11-2014, 08:25 PM
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Originally Posted by ikhoudvanu199 View Post
I have never purchased a vehicle from a dealership before with "cash" (not financed). I am planning on making my next purchase by just saving my pennies, and paying for it up front.

I am just wondering what processes I need to go through for this.

I'm planning on buying a 650F

-Do I actually walk into the dealership with like $10k cash? (Seems a little unsafe to me.) Or do I write a check, or can I pay with my debit card?
-I've heard many people say to tell the salesperson that I plan on paying in cash, will this get me a better deal/more negotiating power?
-What kind of fees, etc will I be looking at(I know they vary a lot state to state, so just a ballpark)
-Any other tips for someone who has only bought vehicles financed?

thanks
OK, so I sold motorcycles for a few months about 10 years back. I know just enough to be dangerous.

There is not a lot of margin on new bikes. Figure about 5%. You can't make offers thousands below book like you're buying last year's F350 King Ranch or anything. Don't talk about financing until you've negotiated the price. Don't let them back you into a corner with this because they'll want to talk payment, which is where all vehicle dealerships run you into the ground paying more than you should.

You could bring cash money and you'd be OK. They see it every day. Don't bring your debit card because that will cost them money (like 1.5%) to run, and they will not be happy about losing even more profit to an eagle-eyed customer. You can write a check too - this will work just fine, and won't cost them anything.

Remember, you can negotiate the price of things like extra warrantees, accessories, helmets and gear. "Where the REAL money from the movie is made" is in accessories and in the service bay. They want you coming back and buying their overpriced **** more than you ordering it from Motorcycle Superstore, where the margins are slim and they have a big drop-ship arrangement from a variety of warehouses. You will still over-pay at the in-shop store with the "big discount" they will offer you, but at least you'll be paying for some expert advice and trying on that gear with some help.

Good luck. Let me know if you want any companionship during this process. I would hover nearby with my mouth shut but could prevent you from making any bone-head errors.
 
  #5  
Old 09-11-2014, 10:23 PM
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Cool, thanks!

I wouldnt want to drive around my area with close to $10k in cash in my pocket. I suppose I will bring my checkbook and debit card, and see which they prefer....of course once the final step is to talk payment

I will definitely see what I can get as far as warranties. One thing I really want is LoJack. Maybe I can talk them into that, at least!

I appreciate the offer to join me, but CO is a little bit of a drive to SC :-p
 
  #6  
Old 09-13-2014, 12:48 AM
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Originally Posted by ikhoudvanu199 View Post
I appreciate the offer to join me, but CO is a little bit of a drive to SC :-p
My bad, LOL. I was dual-surfing the Colorado Sportbike Club forum and I thought you were there; I am close by for all my cosportbike.com punks.

Best of luck. Don't tell the two dealerships you're shopping them until you get prices. Then, see if you want to work with one over the other (location, a person you like, a service department with a better rep, et cetera) and work that sales manager with the other guy's lower price (if lower).
 
  #7  
Old 09-13-2014, 07:26 AM
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My advice if your paying cash, don't be afraid to go a lil outside your area. If I drive to Daytona for instance, bout a three- four hour ride I can save a couple thousand on a new bike then here in my neck of the woods. A couple thousand minus the 100 for gas in the truck and that's worth the trip for me.
 
  #8  
Old 09-14-2014, 01:29 PM
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i would do it with cash just because. hers cash now give the bike.....lol
 
  #9  
Old 09-15-2014, 07:22 PM
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Originally Posted by gtcole View Post
My advice if your paying cash, don't be afraid to go a lil outside your area. If I drive to Daytona for instance, bout a three- four hour ride I can save a couple thousand on a new bike then here in my neck of the woods. A couple thousand minus the 100 for gas in the truck and that's worth the trip for me.
might be worth a shot. the closest places are over an hour away. but that is a very good point
 
  #10  
Old 09-26-2014, 04:15 PM
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Walk in with whatever cash you want. 10K and over is required to be reported to the IRS, nothing different then doing your taxes and it doesn't open you up to anything as some have implied.
Bringing cash doesn't help. At my dealership, cash means we make less money as the banks don't pay us for their loan business. Everyone seems to think cash = some magical deal. In todays electronic world of instant deposits, it doesn't matter anymore.
 

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