Private Sale vs Stealership

[OreoGaborio]

so a guy i work w/ wants a sportbike... but get this... he wants to buy NOW & put it on layaway... think he should go through the trouble of doing that?

i suggested he just find something via private sale, give the seller a healthy deposit (500 or so) and tell them he'll pick it up in the spring, but he really didn't wanna do that... he'd rather do it through a dealership in case somethin goes wrong & the seller just takes his money. BUT... if it was someone that I knew (like one of you guys) then there'd be alot less chance of that and he'd spend less money than if he went to a place like MOM's, Brockton cycle or somethin like that.

anyway... what would you guys do if you were in his position (wants to buy now & put on layaway till spring)

BTW - if you have any leads on a decent beginner bike for about 4g's, fire away.... and yes... he's lookin for somethin no smaller than a 600 supersport... at one point he said my bike was way too small for him (it's ok though, cuz i'm fairly certain that he's gonna end up being a poser biker, not a sport biker, spending more time parked on Lansdown St than riding)

[highsider]

Tell the guy to open a friggin savings account, put his "layaway" money in it, collect interest, and buy a bike in the spring.

[OreoGaborio]

done & done.... I think that was the first thing i told him, but noooooooo "i wanna buy it now & it'll be alot cheaper than if i buy it in the spring"

[RandyO]

I don't think there is any savings to buy now, unless you take posession now. I would not store a bike for free till spring.

[sahd03]

RandyO is right. Winter storage ain't cheap and what kind of cash do you save by letting it sit in someone else's garage or storage area...None. And if it gets dinged or scratched or (gasp!) knowcked over, you end up SPENDING money on something you didn't even do yourself.

Tell the poser to wait until Spring and then buy. Besides, why buy a bike and then let it sit somewhere that you can't even LOOK at it?! What fun is that?

[sahd03]

Actually, I have a better idea.

Tell him to give ME the $4,000 and I'll buy him a nice, used SV650S and we can keep it in my heated garage for the rest of its life. Then the bike is safe, he has put no effort into it, I get a new ride for free AND the roads stay that much safer!

[richw]

Actually only new or left over bikes are cheaper now and only at a dealership.

A used bike will be cheaper when everyone is moving one in the early summer and you can dictate the sales numbers.

No one puts bikes up for sale now cause it woun't sell. Canvas the bargain news for the moving and dead but otherwise early summer the time.

Also how to test when snow on the ground. Even when I was a pup I'ld a least follow the guy around to see it run.

If he can't trust himself with the money

duh then grow up before you buy a big boy toy

[highsider]

Originally posted by richw
Actually only new or left over bikes are cheaper now and only at a dealership.

A used bike will be cheaper when everyone is moving one in the early summer and you can dictate the sales numbers.

No one puts bikes up for sale now cause it woun't sell. Canvas the bargain news for the moving and dead but otherwise early summer the time.

Rich, what are you smoking? I want some.

Pretty much all bikes are cheaper in the winter, newor used. The spring is positively the WORST time of year to buy a bike - the seller knows that someone is going to want to ride badly enough to pay up for the bike, whereas no one is all that excited about riding in the dead of winter to fork out extra cash; they can be selective and get the best deal.

[Sidewinder]

how about 6K for my girls 03 R6 and he can keep it in my basement untill spring. Free of charge....

[R7]

Originally posted by highsider
Tell the guy to open a friggin savings account, put his "layaway" money in it, collect interest, and buy a bike in the spring.

Yeah, i hear ya on that. With the interest rates the banks are offering, he may make 10 bux over the winter

[highsider]

Originally posted by R7
Yeah, i hear ya on that. With the interest rates the banks are offering, he may make 10 bux over the winter

Which would be a good start on the squidly neon lights and "No Fear" stickers that will inevitably be going on this motorcycle.

[R7]

Originally posted by highsider
Which would be a good start on the squidly neon lights and "No Fear" stickers that will inevitably be going on this motorcycle.

You actually have to buy a "no fear" sticker? Fuck that, i thought they gave those stickers away I'd get a tire pen before those stickers

[LuvDog]

That's kind of an odd request... but I guess I can see his logic.

He figures the best deals are now ... so why not negotiate a price now.

Weird... but everyone thinks in different ways.

Why can't he store the bike?

[Wayne-o]

I have a Honda CBR600RR I would let go fir ~5k. Never dumped, dropped or otherwise and well taken care of. I think you could verify this with several of the peeps on this board.




Wayne-o

[beet]

who would love this bike i could ask um
Iceballs

[Wayne-o]

?

Originally posted by beet
who would love this bike i could ask um
Iceballs

[richw]

I meant to say Lurk on like bargainnews

Get it the day it comes out usually Thursday and be ready to go look at the bikes deposit in hand as soon as you can make phone contact.

Some will be low priced by accident.
Others who don't get calls after 2 weeks you can low ball on the phone and tell them there are 250 adds.

"Your asking 6K but it ain't worth over 4500 if its perfect so if that numbers good I'll come over to see it"

Last demand that they have a title in their name or don't bother to go see it regardless how good it sounds.

"I don't have the title I am selling it for a friend who moved to Georgia last year and he will mail you a title after he gets the money" You will be riding in 2007 after going to Georgia and threatening the guy in person.


And examine the owner as much as the bike. Also big bores 1/2 way through the season when brand new ones ruin some underwear and the new owner decides motorcycling ain't for him

[Stoneman]

There is NO distinct, obvious cost advantage buying over the winter. He's nuts and not that bright if he can't listen to reason. My last two streetbikes were 'deals of a lifetime' that I bought in the middle of riding seasons...

Layaways on bikes are as silly as shopping at MOM's for one...

[highsider]

Originally posted by Stoneman
There is NO distinct, obvious cost advantage buying over the winter. He's nuts and not that bright if he can't listen to reason. My last two streetbikes were 'deals of a lifetime' that I bought in the middle of riding seasons...

Layaways on bikes are as silly as shopping at MOM's for one...

I'm surprised so many people say this. Look at the price of bikes in the spring, and then compare them in the fall, and winter up until about February. I have always found the best deals in the dead of winter, when someone needed cash, and wasn't too concerned about having a bike to ride 'cause it was too damn cold out anyway.

Plus, it always seems like the good deals on new bikes come out this time of year.


As for the dude wanting to put a bike on "layaway", I would think that *if* he were able to find someone willing to do that, they would want extra money for storing the bike as well as interest until the bike was paid off.

Layaway is for Wal-Mart, not a bike.

[Stoneman]

I'm only speaking from experience. I've gotten the best deals on bikes in the thick of riding seasons, both new & used. That's the data I go by...

[richw]

My history

If buying a new bike I do it 3rd week January when the the weather is the bleakest but it has to be in stock.

Used

The busiest part of the season like early June through July

[beet]

Originally posted by Stoneman
I'm only speaking from experience. I've gotten the best deals on bikes in the thick of riding seasons, both new & used. That's the data I go by...

some one needs the $ its ether take this or keep the bike cash talks

[Ducrappy]

Originally posted by FireNutzRR
?

Allow me to translate since I am becoming quite fluent in "Beet-glish"

Beet: "I know a kid who is into hondas that might be interested in buying your bike Wayne. I could ask him if he wants it".

[Honclfibr]

Originally posted by A996S
Allow me to translate since I am becoming quite fluent in "Beet-glish"

Beet: "I know a kid who is into hondas that might be interested in buying your bike Wayne. I could ask him if he wants it".

Also, I believe Iceballs = Kid, you ride all winter, you're hardcore.

[ancosta]

Here's my advice for what it's worth:

Dealership usually needs to make a buck on the sale.
Private seller usually needs to break even or limit their losses.

Most dealers position themselves as being around for you after the sale, and offer financing. Most private sellers want to wash their hands of the matter once they make the sale.

Presuming your friend can find the bike he wants and he does not need to obtain dealer financing, then he could probably get a cheaper price by going with a private sale.

The concept of selling something on layaway is unfavorable to the seller, and probably the buyer too. The seller spends time & money to hold the item and has to deal with collecting funds, and there's no guarantee that the buyer will come up with the money. Once the buyer 'commits' to buying the bike, they could be passing up better deals than the one they put a cash deposit on. Plus, what if something happens to the bike between deposit and pick-up? Can you guarantee that it won't be ridden, tipped, etc? What if the seller skips town or tells you to FO if you ask for your deposit back?

As a private seller, I would only take a NON-REFUNDABLE deposit on the bike. Without a little skin in the game, what's to stop the buyer from flaking out?

It's a triangle - price of bike, "fees", interest rate. Buying from private party gets rid of two of these elements. Even seasoned buyers can be bamboozled by a salesperson through the triangle paradigm...profile the seller and then show them the angle that looks best to the buyer, be it a lowball price, easy financing, or no fees.

So if I was your friend, I'd look at the triangle - what is the sale price, cost of financing, and other fees/crap. Do a couple of "what-if" scenarios, e.g. walk into dealer and buy 5k bike at x% APR, get use credit card cash advance, etc. and buy from private seller. What are the pros & cons for each?

If I *had* to pay cash for something yet have no cash to use, I'd open a cash back credit card to make a paypal payment to myself, the cash back offsets the skim fee from Paypal. Then I'd transfer the balance to an 0% APR card. Of course you need good credit to do this, and chances are you are going to drop your FICO score so it's a no-go if you need serious credit soon, e.g. mortgage or car loan.

I waited until I had cash in hand myself and sniped a mint bike off Ebay for hundreds less than an average private seller, let alone a dealership. It was fun, but I'm an ebay junkie.

HTH,