- This topic has 3 replies, 4 voices, and was last updated 15 years, 2 months ago by briderdt.
IM BACK AT THE DEALER TOMORROW!
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February 25, 2009 at 5:26 am #2563leo_reymiamiParticipant
2009 NINJA 250, OUT THE DOOR $4,700, >>>MON FEB 23/09 IT WAS LATE TO TAKE THE BIKE. I SIGNED FOR 5 YEAR WARRANTY $572 & GAP INSURANCE $499> GRAND TOTAL OF $5,820 FOR THE BIKE >>>I THIS REALLY NECESSARY? GUY’S PLEASE I NEED YOUR INFO. I’M BACK AT THE DEALER TOMORROW FEB 24/09. THANKS IN ADVANCE
February 25, 2009 at 5:43 am #16710megaspazParticipantsave your money and get a keyboard with a functioning caps lock key.
That was somewhat serious. Personally, I think the new ninja’s are just overpriced by quite a bit, but 4700 OTD seems to be about a good price for one. As far as gap insurance goes, are you financing this? Financing vehicles of any kind have always seemed like a sucker’s deal to me. I’d suggest saving up until you can pay for the bike you want outright.
February 25, 2009 at 2:04 pm #16716MattParticipantFive year warranty?
Why?Firstly, most bikes only come with a 1 (sometimes 2) year warranty. Warranty length has never really seemed to sell bikes the way it sells cars. With proper maintenance ANY japanese bike (and I’m pretty sure all American, British, German, and even the good Korean bikes) will last to 30 000 miles without any issue. These days, pretty much every bike sold is expected to survive just fine to double that without any major work (routine and wear items exepted – and they aren’t covered by warranty anyways).
Secondly, are you going to be keeping that bike for the full five years? Probably not (statistically speaking you’ll part with the bike in two years, maybe a lot less, maybe a lot more). Will that warranty give you any better resale value you? Personally, I doubt it.
The warranty is going to cost you $500 – what failures are likely to befall you that will cost more than $500 (combined) to fix over the life of the warranty? I can’t think of any. Don’t ask the salesman, ask the mechanic (stop by early, go to the repairs desk and try to ask the mechanic a few questions before you speak with the salesman). Ask him what sort of repairs the new ninja need most.
The only concern is if you get a “lemon”. And again, with the big four japanese brands, you seem pretty safe from those (especially when going with a tried-and-true design like the Ninja 250 which has been around largely unchanged for 20 years).
Now, the warranty is peace of mind for you, and profit for the salesman. Likely in the $100-$200 range.
If you really want that peace of mind (and realize that is what you are buying), I’d be up front with the salesman and say you want the warranty, but the cost is just too high. How about dropping the cost of the bike by $100?If you are financing the bike through the dealership, understand that they will also be getting a cut on that, likely $100 as well. Use that in your bargaining. Tell him you can get a loan cheaper elsewhere, but if he knocks some off the cost of the bike you’ll go through his financing. I’d actually do the shopping around too, so you know just what sort of rates you can get from a bank, and what rates the financing is goign to cost you.
Is this GAP insurance sold via the dealer? Same deal. Shop around, call the local insurance brokers. I don’t know what rates are like in your area, but $500 sounds like a lot for US insurance on a Ninja 250. you can bet if the dealer is including it in the sale price he’s getting paid to do it.
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Now, take a deep breath. What can you get for $5300 (I’m not counting insurance since you need to buy that for any bike)?
Frankly, if you look at the used market, you can get A LOT of bike for that. Even new you can get a Hyosung 650 for that OTD in many areas (I’m not recommending the Hyosung, I’m just saying that $5000 is a lot for a first bike).
I’m sure you can get (with some patience) a used ’08 250 for less than that. I’m sure you can get a used Ninja 500 or GS 500 for less than that.And what about resale? Again, you won’t keep this bike forever. What does a one or two year old 250 sell for? How much will you lose in depreciation and warranty (you pretty much lose all the warranty).
If money is a concern, let someone else take the depreciation hit of the first year or two years (biggest hit).
If the ’09 is *your* bike and it speaks to you, Negotiate. Research you options and negotiate.Cheers, I hope it all works out for the best.
-MattEdit:
I’m with Spaz on the saving up thing btw. A bike is fundamentally a toy. Going into debt for a toy is a bad idea. It is what spereates those who are perpetually in debt from those who are debt free. In the current economy, a little patience and frugality is always a good thing.How much is your down payment? If your down payment is a couple of grand, you can buy a used bike for that and skip the financing all together. If you buy a $2000 bike, it’d require $3000 in repairs over its life before it cost you as much as a new bike even if the bike never required one repair.
Cycle-world has two articles up on buying cheap used bikes:
Five used-bike buying tips (nothing really new in here, but hey)
http://www.cycleworld.com/article.asp?section_id=3&article_id=1055Ten best used bike buys (all under $3k)
http://www.cycleworld.com/article.asp?section_id=3&article_id=1054February 25, 2009 at 2:47 pm #16720briderdtParticipant…and you’re comfy with throwing the money around like that, go right ahead. You’re adding some things that I feel are unnecessary. But if you’re financing it, keep in mind that you may want to sell that bike in 2 years, and you’ll be completely upside down on the loan.
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