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If I was the dealer, I'd rescind my offer since one of the elements of the deal (financing) has changed. There's nothing you could do about it. IMO, the way to do it is to wait for the first payment slip (or the whole book) to be mailed to you (a week or 2 later) and pay it off then. It'll cost you maybe $5 for accrued interest and that's all.
Please note this is all my opinion. Not an expert... I got the dealer price for the last two cars that I purchased on line from Consumer Reports. After a few dickering back and forth between myself and the sells man (who appears to just be a middle man between me and a manager who has a minimal price set. I just acted dumb as if they would lead me through the whole process. Once the manager accepted my offer and I dealt with the financial man and this is were I dropped the check. My thought is if you play your hand you have cash, you will have more trouble getting the first manger to accept your offer since the salesman and him will be holding out for more money since their cut is a percent off the profit and my game is giving them as little as I can knowing good and well they will make some kind of profit. My experience went very well with one dealer who wanted $200 more than the $500 above dealer cost but well below the sticker. The other dealer after a bunch of back and forth offers finally wrote down a list of 7 items that added up to close to another $1000 over my original $500. Told him I need to look at his paper work at home. He would not let me take it with me which I thought was odd. Told him I would look at it there. There were the typical papers laying around and when he left the room, wife put his paper in her pocket. We took his deal. He did not notice the missing sheet. They were not line item on his bill of sale. Later I took the paperwork to the local DMV and ask about a couple of their charges. Lady told me three were illegal in VA and their 2 were incorrect. I call the dealership and ended up getting a nice meal, a check for $1000 and a $500 credit on parts or labor from the owner. Problem with your method is most loans now days have a payoff penalty. Need to check.
Last edited by Jackie Paper; Sep 11, 2011 at 09:30 AM.
Wait until last couple days in the month of Jan. or Feb. Then contact a dealer who has a foot or two of snow on the ground. Make your offer at that point.
Bare in mind that sales to customers outside a dealer's zip code no longer count towards their sales numbers (it actually counts against them...I've heard that from two different dealers).
I don't buy that for one minute!
Remember, there are plenty of dealers in rural areas like where I am.
The closest dealer to me is approx. 60 miles away.
They are in a town of approx. 14,000 people.
I can guarantee you, that over 90% of their sales are from buyers outside their local zip code.
Perhaps your story only holds true of the big city dealers, where there might be several to choose from within a 30 mile area.
you can get great deals on used low milage late model (new frames) & not have to pay the extra $s that you lose when the bike leaves the showroom & usually still have the factory warrantee & probably some nice add on's already installed - so maybe you won't get your #1 color choice at worst - there are lots of them out there - you just have to look around
Please note this is all my opinion. Not an expert... I got the dealer price for the last two cars that I purchased on line from Consumer Reports. After a few dickering back and forth between myself and the sells man (who appears to just be a middle man between me and a manager who has a minimal price set. I just acted dumb as if they would lead me through the whole process. Once the manager accepted my offer and I dealt with the financial man and this is were I dropped the check. My thought is if you play your hand you have cash, you will have more trouble getting the first manger to accept your offer since the salesman and him will be holding out for more money since their cut is a percent off the profit and my game is giving them as little as I can knowing good and well they will make some kind of profit. My experience went very well with one dealer who wanted $200 more than the $500 above dealer cost but well below the sticker. The other dealer after a bunch of back and forth offers finally wrote down a list of 7 items that added up to close to another $1000 over my original $500. Told him I need to look at his paper work at home. He would not let me take it with me which I thought was odd. Told him I would look at it there. There were the typical papers laying around and when he left the room, wife put his paper in her pocket. We took his deal. He did not notice the missing sheet. They were not line item on his bill of sale. Later I took the paperwork to the local DMV and ask about a couple of their charges. Lady told me three were illegal in VA and their 2 were incorrect. I call the dealership and ended up getting a nice meal, a check for $1000 and a $500 credit on parts or labor from the owner. Problem with your method is most loans now days have a payoff penalty. Need to check.
Most loans don't have payoff penalty as far as I know and the ones I took didn't have one. In the current economy, with the number of repos and foreclosures, lenders are very happy when you reimburse your loan so they won't hit you when you do it sooner than anticipated.
Last edited by frenchbiker; Sep 11, 2011 at 11:27 AM.
you can get great deals on used low milage late model (new frames) & not have to pay the extra $s that you lose when the bike leaves the showroom & usually still have the factory warrantee & probably some nice add on's already installed - so maybe you won't get your #1 color choice at worst - there are lots of them out there - you just have to look around
+1. That's how I bought my current bike and I saved at least $4,000 over new. It came with a bunch of add-ons and a 5-year extended warranty to boot. For a bike with $2,400 miles, that wasn't too shabby. You have to pull the trigger real fast on this kind of deal though because if you snooze, you lose.
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