Question about paper work covering purchase of new motorcycle

Status
Not open for further replies.
Joined
Feb 15, 2014
Messages
271
Location
South Georgia
If I have posted this in the wrong spot apologys. I'm trying to buy a new 2019 Suzuki M50. Sales manager gives me a work up sheet that has the top line labeled as "settlement" with a number $1800.00 more than the base price. The rest of the amounts for fees and such are below. Then the tax number appears to have been calculated using the number labeled "settlement" witch appears to fall in line with state tax law. Finally is the total price. Once I put my trade in the deal the "settlement" amount will be substantialy more than the total price. I have only seen the label "settlement" used when buying a house and that was the amount you had to pay. I asked the sales girl about it and got a gobbledygook answer that made no sense. Should I be concerned? BTW I'm paying cash.
 
If it's the best deal you can get, and you want it, get it.

But it sounds like dealership shenanigans.

Consider financing it, then paying it off in a month if there's no penalty, if you can get the dealer to come down some more. They hate cash deals.
 
Yes you should be concerned. It sounds like you don't know how to read the statement. They are probably doing things like adding extra fees and stealing your trade. You should be able to take all the number previously agreed to, put it in a spreadsheet or calculator and come up with the same number. If you can't, there's a good chance you're being fleeced.
 
Originally Posted by CT8
When in doubt don't. Did you ask for an explanation from the dealer?


yes and said so in post
 
Originally Posted by JohnnyJohnson
Walk to the next closest dealer with that paper and ask if he can beat that deal!

I wish next closest 70 miles
 
Originally Posted by faltic
that's what I was thinking wolf


Did you get a copy? Take a picture and post it, blank out any personal info. I always run the numbers to make sure they're not pulling a fast one.
 
Originally Posted by faltic
Originally Posted by CT8
When in doubt don't. Did you ask for an explanation from the dealer?


yes and said so in post


Tell the salesperson you don't understand her explanation and want the manager to explain it to you. Keep going up until it makes sense and you're comfortable.
 
Paying cash, then there is one question, how much cash do they want? If that number doesn't seem right, leave.

This is dead simple, you don't really care about the numbers above the line that indicates how much cash you are paying.

You know what you want to pay, you know the tax rate, so your target should be the bottom line, how much you need to provide to take the item Out The Door.

They can fiddle with the numbers above the line to their hearts content as long as you get the cash number you pay to a value you like.

Always, always deal on that OTD number. It saves a lot of confusion.

Sounds like you agreed on a price and now a bunch of fees showed up. I'd say sorry, the price I agreed to included all fees except sales tax, which is X% If they are not going to sell you the item for that price plus the sales tax of X% get up and leave.

Always make it clear you are negotiating an OTD number. Should be easy. If the item is $5000 and the tax rate is 6% then you expect to pay $5300 to take it home, so you are negotiating for $5300 OTD

Taxes, tags, and state title fees are easily researched prior to going to a dealer. Here in IL, I figure tags and title were about $200 before the recent increase, so maybe $250 now in round numbers. So if I'm buying a car, I have my target price and the bottom line number I'm looking for is my (target price) * 1.0625 + $250

I don't care what they do above the line. If they call some of it fees or this or that, my target number is still the same and that's the only number I'm looking at on the sheet, the bottom line number.

Sorry so long, this is a cash deal, how much cash do they want and are you comfortable paying that amount? If so, buy, if not don't buy.


Originally Posted by faltic
If I have posted this in the wrong spot apologys. I'm trying to buy a new 2019 Suzuki M50. ... Should I be concerned? BTW I'm paying cash.
 
Every Cell phone has a calculator. Do the math and make sure there isn't any hidden charges. The last motorcycle I bought was done with an OTD offer I made including tax and license. It took me a week to talk them into it but in the end I got what I wanted. And that was at a dealership.
 
They are purposely trying to confuse the deal, mixing up a trade allowance , new Suzuki , fees etc. There is a reason its confusing- its designed to be that way, and they will play tricks with your head to make you feel too stupid, or too proud, to question the numbers. The transaction has the same rules and economics as buying are car, so treat it the same way.
 
Thanks for all input folks. Sent 'em an email basically saying give me a clear correct estimate without the word "settlement" on any amount listed and I might come back buy. Not expecting a responce.
 
Yeah. Just like a car deal, each line item or fee should be easily seen, represented and easily explained. Price, less trade, add in tax, maybe license fees.
If they seem generous on trade, they may inflate the new bike price. Hiding numbers is no way to do biz and you still arrive at an out the door total so you can have it both ways. Answers to your itemized fees and the total. How or why anyone (respectable business) gets away with crafty paperwork or creating mystery is relative to the customers that purchase under shady details and either don't mind or would rather chance getting snaked.
 
Status
Not open for further replies.
Back
Top