Just as retailers such as grocery and clothing stores offer discounts or coupons, car and motorcycle manufacturers offer incentives to get buyers in the door.
You may have been lured into a car showroom in the past due to a heavily advertised rebate, but motorcycle manufacturers are also turning up the heat and offering clever deals to buyers. With the recent economic downturn, manufacturers have had to get creative with their offers. This article from Bikesales mentions Honda entering buyers to win a cash prize, while this website lists incentives including in-store credit. In most cases, rebates fall into three main categories, including cash rebates, special lease, and low-interest financing. Arming yourself with knowledge regarding incentives can help ensure that you get the best possible deal.
One of the most common types of incentive that motorcycle manufacturers offer is a cash rebate. When you purchase a new motorcycle, you'll get cash back on your purchase. The exact amount that you get back will vary depending on the deal. However, in most cases you won't actually receive the cash in your pocket. The rebate is instead applied to the total cost of the vehicle, effectively acting as a coupon. Keep this in mind as you're negotiating for a new motorcycle. Just because a manufacturer offers a rebate doesn't mean that the motorcycle dealer can't still offer some wiggle room on the price. It's best to state that you still wish to settle on a price before discussing rebates. In addition to manufacturer rebates, some models may also qualify for government rebates, as in the case of hybrid vehicles.
Incentives for Buyers
In addition to rebates, there are other types of financial incentives provided by car makers and dealers alike. One of the most common is low or zero-interest financing. To entice you to enter into a financing plan, you may have interest waived for the first year or more of your repayment plan. This can add up to significant savings over the length of the loan. Although you usually are only able to choose between low-interest financing or a cash-back rebate, in some cases you may be able to take advantage of both. Increased competition between motorcycle manufacturers means that there are some great deals if you shop around online before committing to anything.
A third type of incentive applies to leasing agreements. There may be instances where it's possible to reduce monthly lease payments or put down a smaller up front deposit to gain access to your vehicle. Free maintenance, servicing, and even the possibility of winning cash prizes are all in the cards as well if you play your cards right when buying a motorcycle.
For buyers to take optimal advantage of these incentives, it's best to have a look online and compare discounts and incentives ahead of time. This will arm you with the knowledge you need to get a great deal when it's time to speak directly to the dealer.