In America, we’re pretty used to fixed price culture. We like to walk into a store and want the prices displayed directly on the product so we can pick it up and pay the amount and walk out. This is a seriously problematic culture because haggling not only improves our overall negotiation skills, they also let us find better opportunities.
The same can be applied to buying a used motorcycle. If a brand new bike is out of your price range, you are probably going to want to visit a motorcycle dealer and find yourself a good used motorcycle. But is it a good idea to pay whatever price the dealer tells you about a bike you like?
If you really want a bike and it is just slightly above your budget, then it is always a good idea to try and negotiate a better price. You’ll be surprised how many dealers are actually willing to lower their prices, you just need to try and haggle!
If you’re born and raised in the U.S, you probably have very little knowledge of haggling. We’ve listed down some of the best foolproof tips to help you get started.
Know the Actual Value of the Motorcycle
The most important thing about negotiating a deal is having good knowledge of the price of the thing you are about to buy. Do your homework on the bike you want to buy and talk to other sellers, look on the internet, learn how upgrades and aftermarket parts for used motorcycles affect the overall price of the motorcycle.
With this knowledge under your belt, you can easily produce a convincing argument that will help you bring down the price.
Learn to Calculate Your Offer
The key to successfully negotiating a price is to never let the seller know how much you actually intend to pay for the bike. Let them give you an offer and be ready to counter-offer. But your counter-offer needs to be well researched. You will have to do a lot of research, find the street price of the bike, and everything else mentioned above.
This should give you an idea of how much the actual price of the used motorcycle should be. You’ll have to share this information with the seller and actually try to convince them why you think your price is better.
If you can calculate the offer, you can also save money on a loan.
Never Lose Your Cool
The haggling process can easily annoy a lot of people. This is natural and expected. Don’t lose your cool if the seller immediately shows a negative emotion when you try to counteroffer. Talk them out, calm them, and then restart the process. The initial emotional burst is only temporary unless you too lose control.
Walk Away if Things Don’t Workout
Haggling doesn’t always work. If you think you are unable to strike a good deal with the motorcycle dealer, just walk out. You have to have a budget and a price in your mind when you go out buying. Never settle for anything higher and try and find another seller to see if you can strike a better deal.