Ready to Purchase 919 - Wrist Twisters
 
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post #1 of 25 Old 10-30-2008, 05:16 PM Thread Starter
 
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Ready to Purchase 919

So why do I feel as though the Dealer is trying to rape me. A few weeks ago I get a price of 6758.00 (2007) tax and title 7475.05. I tell the salesman that I don't want the extended warranty he seems surprised but doesn't press it. So I take out 3 grand for a down payment. So i call today to get the ball rolling and am put in touch with the finance lady. give her my info and she calls me back an hour later. First off she try's to talk me into financing through Honda instead of my credit union. So I tell her to go ahead and give me the Honda deal first. Starts off with 169.00 a month and includes the extended warranty which she cannot believe that I don't want next it includes another almost 500 of some kind of extra insurance to give me the full replacement cost because they are high on the list for being stolen then she's arguing with how I need both of these extras. I ask how many years it was for 6 fricken years I laugh and ask if this included the 3000 down payment and she says no to use it for the first payment. I'll be calling the credit union in the morning that's over 12,000.00 Am I wrong for feeling like they are trying to pull a fast one.

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post #2 of 25 Old 10-30-2008, 05:25 PM
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i work as a salesman in a honda dealership... the way i am reading this they are offering you 7500.00 out the door.... with good credit and 3000.00 down you are financing 4500.00 if this is correct even with a average interest rate of 9.99 you should be paying 98.56 per month for 60 months....

get the gap insurance they offer tell them to stick the extended warranty.. gap insurance is worth twice what you pay for it....

in my hunble opinion they are tryin to pull one on you... use your credit union... BUT BUY THE GAP INSURANCE... if your bike gets totalled it pays the GAP between what you owe and what its worth.. which is one hell of a lot more than 500.00...

otherwise welcome and enjjoy your new 9er



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post #3 of 25 Old 10-30-2008, 05:33 PM Thread Starter
 
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thanks that sounds good

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post #4 of 25 Old 10-30-2008, 05:36 PM
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I think the GAP is a wash in this situation...

If he was financing 12k with no down payment over 60 months. I would be all about it.

He is financing 4.5k, most likely the insurance will payout around that amount incase of a total loss, within the first couple years. After that he should have paid enough principal to be in the clear.

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post #5 of 25 Old 10-30-2008, 05:41 PM
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if something happens and he doesnt use the gap he can get a refund on it..

my cbr1000rr was stolen they paid me 8900.00 for it i owed 6700.00 on it... and i got my 599.00 refunded for the gap i didnt use...

but this is just my opinion...



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post #6 of 25 Old 10-30-2008, 05:43 PM
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I agree on the sale price is $7,500 and you are financing $4,500 part. Have your credit union tell you what would be for 5 years at their interest rate. Go to the dealer armed with than info. IMO, don't finance over 5 years, especially on a bike.

I wouldn't take the gap insurance but that's just me. If you owe $4,500 that means the bike would have to be worth less than $4,000 for it to be worth you paying $500 for the insurance. And you're really paying more than $500 because you'd be financing the $500.

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post #7 of 25 Old 10-30-2008, 06:03 PM
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So many dealerships of any kind these days just try to sell whomever on the payment ammount and sadly way to many people fall for it without ever asking what they are actually paying.

"Oh, you mean I can drive this vehicle away for only 99.99 a month?" Never mind the fact that you'll be paying 99.99 a month twice as long as a normal loan.


Same goes with these no payments for 6 months or what not. While that's fine if your planning on keeping whatever for life, but come 3-4 years down the road when you go to trade that whatever in, your that much further up-sdie down because you didn't make those 6 months worth of payments.

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post #8 of 25 Old 10-30-2008, 06:06 PM
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Hondas don't need an extended warranty - the gap is a good deal if you can't afford your initial outlay of 3k. I would take the $500 - by a good set of gear and be $500 more careful when you ride.

Niners are a great bike. Remember 50 degrees and a cold tire will cause a slip to the starboard on launch....

$0.02 worth

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post #9 of 25 Old 10-30-2008, 06:10 PM
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I'm a huge hater of financing anything that isn't a basic necessity, like a house, or a sole method of transportation. But it sounds like you have a decent down paymt. I wouldn't finance a $4500 loan over 36 months. Say no to everything extra. My $.02.

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post #10 of 25 Old 10-30-2008, 06:13 PM
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Quote:
Originally Posted by Lone Wolff View Post
I'm a huge hater of financing anything that isn't a basic necessity, like a house, or a sole method of transportation. But it sounds like you have a decent down paymt. I wouldn't finance a $4500 loan over 36 months. Say no to everything extra. My $.02.
I always pay cash for bikes, but not everybody is in that position. I agree, if you can get it to three years so much the better. Just make sure you consider the cost of gear if you don't have it, and insurance. Make sure you know your insurance costs before you buy.

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post #11 of 25 Old 10-30-2008, 06:23 PM
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A good dealership would actually work with you and offer you some options. Honda always has some special financing available ... 3.9% or 5.9%, etc. If they are pushing you to buy extras ... I'd tell them to pound sand!

I'm not familar with the gap insurance? In my state insurance is handled differently. I've financed through Honda finance a few years back. It was a special 1.9% rate for 36 months. The special was for dirt bikes, but they gave it to me on a sport bike. My return on investment from other things was much higher. Why give up a chunk of cash when it can work for you.

Always balance how much money you finance to how you can use your money to work for you.

Remember to balance what you can afford comfortably for something you want and not necessarily need!

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post #12 of 25 Old 10-30-2008, 06:38 PM
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Do you mind me asking what dealer? I bought my 919 at Southern in Chat. Good folks who weren't too pushy, as far as stealers go... Which finance lady did you talk to, if at Southern?

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post #13 of 25 Old 10-30-2008, 06:47 PM Thread Starter
 
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Quote:
Originally Posted by brevity View Post
Do you mind me asking what dealer? I bought my 919 at Southern in Chat. Good folks who weren't too pushy, as far as stealers go... Which finance lady did you talk to, if at Southern?
same place southern, I know they have the lowest prices, Pam is her name.

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post #14 of 25 Old 10-30-2008, 07:01 PM
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Quote:
Originally Posted by mkjeld76 View Post
same place southern, I know they have the lowest prices, Pam is her name.
I dealt with a young, tall drink of blonde when I bought mine. But I digress... They are getting a little nervous because 1) selling season is over, and 2) the economy isn't making it easy to get a loan. And, with the amount of down payment you have, you are in total control of the deal. They will try and fast-talk you. Just be firm and direct on your terms. Make it very clear to Pam what you expect and what you are willing to do. You're not being mean--you're looking after yourself. They'll railroad you if they smell an uneducated buyer. Be confident. Whether you go with Honda finance or with your credit union, don't let them sell you anything you don't need. Great advice so far about what you should consider (gap--your choice either way) and what's not needed (extended warranty--it is a Honda, after all).

The price they quoted you is a good price. Finance for as few years as you can afford. And like was mentioned by HondaJim, double and triple-check with your insurance company before you buy. I was quoted one rate pre-sale, then was shocked when my first bill came. Be as clear with your insurance company as you will be with Southern.

Good Luck!!!! Let us know how it turns out.

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post #15 of 25 Old 10-30-2008, 07:21 PM
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and just for the record.. the payment etc i gave you came straight from the finance ladys mouth... 4500x60 w/9.99%= 98.00 ish per for 60 months.. good luck



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post #16 of 25 Old 10-31-2008, 06:14 AM Thread Starter
 
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well I checked on insurance this morning USAA uses Progressive seems quite high 541 a year. Might put the brakes on purchase for a while.

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post #17 of 25 Old 10-31-2008, 06:45 AM
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i did a 5 yr loan through bank =$137 a month
full coverage through progressive = $74.00 a month
felt i did good for my first sportbike, and hell, i wanted it, did a little homework, and rode into the sunset happy.

as McClane would say: yippee kai yaa





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post #18 of 25 Old 10-31-2008, 06:46 AM
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Does your insurance company have gap insurance included? The program I am with through Indiana Farm Bureau gives me gap insurance on anything I buy automatically.

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post #19 of 25 Old 10-31-2008, 06:52 AM
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I think I would skip on the new one and just buy one from this site. I know there is at least one in the for sale section and others will probably sell theirs for the right price.

I go through progressive and pay about $480 per year for ins. Mine is high because I can't keep my foot out of the gas when I'm in my truck. The last ticket was for Careless driving. You know...for some reason, cops just don't like the sound, smell, or awesome sights of two huge tires lit up and billowing a wall of smoke in downtown.

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post #20 of 25 Old 10-31-2008, 06:57 AM
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I think you should save up for the full amount. That will leave you with the best deal.

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post #21 of 25 Old 10-31-2008, 08:18 AM
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Quote:
Originally Posted by cmurphy84 View Post
I think I would skip on the new one and just buy one from this site. I know there is at least one in the for sale section and others will probably sell theirs for the right price.

I go through progressive and pay about $480 per year for ins. Mine is high because I can't keep my foot out of the gas when I'm in my truck. The last ticket was for Careless driving. You know...for some reason, cops just don't like the sound, smell, or awesome sights of two huge tires lit up and billowing a wall of smoke in downtown.
yeah some of them are funny about that stuff..... down right intolerant...lol



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post #22 of 25 Old 10-31-2008, 08:36 AM
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I would definitely consider saving and buying one out right personally. You can always find one with a few mods already done to it. Most if not all of us are always gonna change things on our bike...exhaust, seat etc. I know a friend of mine just sold his 919 so you can always find one for sale somewhere and you'll find plenty of help along the way on this site as well. Good luck with your purchase


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post #23 of 25 Old 10-31-2008, 09:08 AM
 
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well good luck with this whole ordeal

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post #24 of 25 Old 10-31-2008, 09:43 AM
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My neighbor bought one in a crate, $6800 out the door I think he put it together himself?

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post #25 of 25 Old 10-31-2008, 10:45 AM
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$541 a year is a decent premium, as I wrote in another thread, I called just about everyone doing business in my state and Progressive was just a little more than that but I needed more than just minimum liability, comp, and collision.
At least your being a good boy scout being prepared by getting insurance quotes before you buy!
Good luck with whatever you decide to get.


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