Buying a new bike from dealership

[Longcat]

I'm planning on buying a new 2007 CBR600RR from a dealership and I was wondering if it would be better to buy now--right before the new year--or wait until January hits. I'm pretty bent on buying in the winter because I know I'll have more leverage, but right now Honda is having a pretty good deal. Also is it usually better to finance through the dealership or a bank because I'll most likely being doing that. My credit rating is something like 780 so I should be able to get a good size auto loan. Finally, what would be a reasonable offer for the bike since it's going to be about $9400 including all fees and taxes; I'm thinking I should offer something like $8500 since I know for a fact bike sales have been slow this year, but I don't know if this is ridiculously low or anything.

Thanks in advance for any comments, but I'd appreciate nobody attempting to talk me out of buying the bike. I'm pretty sure I can handle it and regardless I'm going to buy it.

[JC Viper]

See if they have a hold over from 2006 and get a lower price. I bought my bikes in the winter (December) and always got a good deal because the dealer was trying to get rid of the older brand new bikes before year's end.

You can also get the CBR600 F4i which is cheaper but less sporty

[NewGuy]

Also is it usually better to finance through the dealership or a bank because I'll most likely being doing that.

Well it's best not to finance, and just pay cash to avoid paying a fortune in interest. However, if you must finance shop around to various banks and compare what the banks can over compared to the dealer. Compare the Annual Percentage Rate (APR) from the various lenders.

Also, note that many offers from dealers have a lower APR for the first year or two, then the interest rate jumps up. For example on the CBR600RR the rate jumps dramatically after 24 months. Meaning you'll have a nice low payment the first two years, then get hammered for the remainder of the loan. Be careful, because a lot people get in financial trouble with deals like that, and could damage that nice high credit rating you've got.

IMHO, you're better off shopping around for a used bike that you can afford to purchase without using a loan.

[badinfluence63]

regardless what bike, you picked, in my opinion, the smartest time to buy one and for all the right reasons.

[Orange Crate]

Bikes are just like cars- If you finance it "in house" you're gonna get a lower price because the dealership will make it up on the finance "fold back".
Since you're gonna finance it in the winter-I'm assuming you're NOT in a 365/yr riding area- you are going to be paying interest and Full Coverage Ins on something you're NOT using.
Tuff choices...but a NICE problem to have: "to buy or not to buy..."
Have fun with the new bike-wether it's now or in 3-4 mos.!

[Lion_Lady]

Now wait a minute. What's wrong with your SV650s??? This is your 7th post in the Newbies section and already you talk about moving up? What the heck is the rush?

Why upgrade now, before you've really mastered the SV? Are you caving in to your buddies?

P

[NewGuy]

Bikes are just like cars- If you finance it "in house" you're gonna get a lower price because the dealership will make it up on the finance "fold back".

Well conventional wisdom is that to get the best price that you should negotiate the price of the vehicle (car or motorcycle) first, without committing to financing from the dealer. Once the price is finalized then pick whatever lender will give the best deal on financing.

[hordak]

I'm planning on buying a new 2007 CBR600RR from a dealership and I was wondering if it would be better to buy now--right before the new year--or wait until January hits. I'm pretty bent on buying in the winter because I know I'll have more leverage, but right now Honda is having a pretty good deal. Also is it usually better to finance through the dealership or a bank because I'll most likely being doing that. My credit rating is something like 780 so I should be able to get a good size auto loan. Finally, what would be a reasonable offer for the bike since it's going to be about $9400 including all fees and taxes; I'm thinking I should offer something like $8500 since I know for a fact bike sales have been slow this year, but I don't know if this is ridiculously low or anything.

Thanks in advance for any comments, but I'd appreciate nobody attempting to talk me out of buying the bike. I'm pretty sure I can handle it and regardless I'm going to buy it.

It is all ways better to get your own financing then to go through a dealer. They make money on the deal by getting you a higher interest rate then you could get from your own bank(.At least in the auto world. I imagine its the same for bike)
Just a heads up. Motorcycle loans are not as easy to get as an auto loan. Banks see them as a toy and not a necessity or investment. I've had a $120,000 mortgage and $50,000 in auto loans but couldn't get financed for $3,500 on a Ninja 250 a few months prior to getting my auto loans.

[Brackstone]

Now wait a minute. What's wrong with your SV650s??? This is your 7th post in the Newbies section and already you talk about moving up? What the heck is the rush?

Why upgrade now, before you've really mastered the SV? Are you caving in to your buddies?

P

I love Lionlady she's got a memory like a steeltrap! I always forget who these guys are.

I agree if you haven't been riding the SV650 very long you should stick with it. How long have you had the SV650, how many miles have you put on it?

[Orange Crate]

It's been my experience that if you're "paying cash and only buying the car/bike" that you are not giving the dealer as many 'chances' to make money. ie: no extended warranty,no in-house fianance, no add on accesories.
Dealer "fold back" is a large part of their profit.
I propose you run a simple test- go price just a bike at a dealer- then have a buddy go in and price it with the dealer fia and ext warr.