Need advice on OTD price for new VFR800

Love this site. First post.


I've wanted one of these bikes for many years and am close to buying. If I do get it I'll likely be back regularly for other more technical advice. But, for now, I'm asking about $.


Nearby dealer has had two (new) 2007 RWB vfr800's on the floor for some time. I want to make an offer, but not sure where the market is these days, and what would be a fair OTD price, including tax/tag/fees/prep/and all the other little add-ons the dealers want.


I have not purchased a new bike for many years from a dealer, so I'm not familiar with their pricing techniques. Having purchased many new cars over the years, I know how auto dealers do their thing, but I'm lost when it comes to motorcycles.


The price I've been quoted, without all the add-on fees, taxes, etc., and without any negotiating, has been $6900. I asked about the OTD price and they start giving me all kinds of additional figures....but no final OTD number. I realize I just have to come up with a total offer and go from there, but I'm not sure how dealers are playing the game these days.


Any advice? I'm in Florida, the economy isn't great and the bikes have been sitting for a while.

 

A co worker just pick up on RWB OTD for $7400. This is in OC California. Hope this help

 

Above price is about right. Local dealer here at ALL of their VFR800's for $6995 before TTL/dealer add on's. Being that riding season is in full swing, it does make it a bit harder for negotations (versus end of riding season/winter). Throw them a figure and see where they sit........worst they can say is no

I'd shoot for 7250 OTD. Anything close to that and I think you've got a great deal.

 

Those figures sound about right to me. The preliminary numbers they gave me, on top of the $6900 asking price, plus 6% tax/title/tag/prep/delivery/free air in the tires/etc. was about $1000 more. So that puts their asking price at around $8K OTD. I'm thinking something between $7250-$7500 OTD will be fair.

Riding/buying season here in the extremely hot, humid and wet Florida summer seems to be different than other areas of the country. Most of the dealerships I've been visiting lately appear rather empty and the sales people seem desperate. I'll let you folks know how it goes. I really appreciate the information.

 

i picked one up a few weeks ago for 7400 OTD. They wouldn't budge on the price, but I bet if I would have waited till october they would have given me a better deal.

 

Sounds about where the eBay dealers have been selling them for lately. I think Honda lowered the price to $6900 or so to clear these out. Honda : Interceptor: eBay Motors (item 400130687242 end time Jul-13-10 09:26:41 PDT)

 

Go in with your OTD price, but have a back up plan as well. If they start asking for too many add ons, have them throw in a helmet, or a years worth of oil changes, or 25% off anything you buy at the parts department, etc. etc.

$6900 sound like a pretty respectable price.

 

Good advice so far. The 6900 is a good $ but don't go for the extra 1k on top of it. Ask for 7250 OTD (and if they agree, make sure its clearly written / signed by them somewhere). Give yourself a ceiling if they try to go higher (say 7500?) and haggle until that point. If they keep trying to up it past your self imposed ceiling, walk out the door. If a dealer isn't willing to make a deal on a 3 yr old bike they can't sell (especially if you're not trying to undercut them by thousands of dollars), you probably dont want to do business with them.

 

Thanks to all for the good information.

The sale price certainly appears to be in line with all the other new 2007 VFRs being purchased, a little under $7K. However, it seems most dealers...I've also priced several other bikes/brands (not just this VFR)...are adding a variety of extra charges to all bikes, in addition to the normal state sales tax and tag/title fees which are fixed and non-negotiable.

I'm curious if these extras, like freight charges, dealer preparation and "set-up costs" (whatever that is...), all the dealers are tacking on to new bike prices are where they try to make the real profit after the customer agrees to the "final" sale price. Are these add-ons (freight, dealer prep, etc.) negotiable, or are they also "fixed costs" to the dealer?

I would imagine freight costs (ranging anywhere from about $100 to over $500, as quoted to me by various dealers) are nogotiable, particularly if the bike, like this 3 year-old discontinued VFR, has been sitting unsold for some time. A couple of dealers told me the freight charges are "not negotiable", saying "that's what we have to pay the manufacturer/factory". That sounds like BS to me since others seem willing to dicker on the freight, as well as the other preparation charges/fees. Obviously all that would depend upon the make, model, year and demand for the particular unit they're trying to sell.

The discount for accessories and future service/repairs is certainly something I'll bring up, though this dealer is about 70 miles away and I probably will use the much closer Honda dealer in my town. I already have most of the accessory items all new riders would buy at the time of initial purchase, whatever accessories I do buy for the VFR (like hard bags) will likely be purchased from other vendors as needed/wanted.

I am prepared to "walk away" if my top offer is not accepted. I just wanted to have a firm, fair and realistic figure in mind...based on reality, not some pipe dream...before establishing the ceiling. And for that, I thank all of you for your advice.

BTW...I'm considering, and have also priced, a new 2008 Triumph Tiger 1050 (a black one, with the factory hard bags included) at $9K (plus all the other add-ons). I've narrowed the choice to these two bikes, even though they differ somewhat in purpose. I've always had a real hankering for a Honda Interceptor, they're so pretty and the current discounted prices seem too good to pass up. But, that Tiger is very nice.

Thanks again.

 

Sergio,

Good luck with the purchase!!

 

Good luck.

 

Sergio,
There is usually 6 parts to the OTD.... MSRP, state sales tax, DMV, Prep, Freight and Documentation Fee.
Often the prep and freight are pumped up. The Doc fee is kind of bull crap, but should be just a few dollars.
The state sales tax and DMV will be based on the final cost.
Before you buy shop around for the best insurance deal. You don't have to get it from the dealer.
If they will not give you a detailed list of the OTD (Out The Door) price before you buy . . . go elsewhere.
If they do give it to you, get it in writing and have them sign and date it, even if it's on the back of their
business card.
Years ago I was a sales manager for Honda and I would not put up with any crap where the sales people
play these shitty games.
If you decide to go elsewhere, tell them why.
If you have any other problem with them call the local Honda district manager.
Today, it's a buyer's market so take advantage of it and get a good reasonable OTD.
Buying should be fun, not stressful. Good luck ~

 

Use the skills you have acquired purchasing cars from dealerships. Motorcycle dealers play the same games. Some motorcycle dealers are car dealers who sell motorcycles. SOS..

About the only thing they won't try to sell you is upholstery protection and undercoating..

Honda Inc is a tough cookie for dealers. That bike you are negotiating has been bought and paid for or the dealer still owes Honda Inc some bucks. It needs to be gone. The price may drop in Winter but the longer a bike sits on the showroom floor, the less it's worth.

Just like a car dealer. If it ain't in writing they can tell you anything.

 

BB is right. If it isn't in writing . . . it doesn't exist. (scratches BB behind the ear)

Also dealers like to push extended warranties. Statistically, these are not

a good deal for the buyer. Dealers make about 100% profit on these.

However, when you are selling your bike, and you have a transferable extended

warranty, it becomes a plus factor when you advertise it.

 

A good dealer will waive those "nonsense" charges like prep and destination if they want to sell the bike. I bought my 2007 for invoice plus tax and DMV fees. They even shipped the bike from another dealership for the sale and only tacked on $50 for the service which was fine. If they don't want to play and price this at $7500 or under, walk away. EVERYTHING is negotiable!! I don't know how high your taxes are in your area but in California its at 9.5% so I got mine for right around $7250 OTD. Here you pay the same tax from the county that you live in so it doesn't matter where you buy it.

i would only touch an extended warranty on a used bike from a dealer. That saved me on my old 2005 VFR when the R/R burnt out from a faulty installation of the 2002-2005 wiring harness recall. (That dealership went out of business!)
Good luck!

 

Extended Warranties are a debatable item.

I don't know what the typical new warranty is on a bike, but you can usually go back and purchase an extended warranty at a later period on most products I can't say if a bike works this way, since I've never owned a new bike lol.

If an item that you purchase comes with say, a 12 month warranty (TV's, washers, car, home electronics, etc.), and you purchase an extended warranty at your initial purchase, you've basically "double paid" for the first year. Your under manufacturers warranty anyway.

My experience has been that most salespeople will tell you if you don't buy the extended warranty now, its going to cost you more later because the item that your buying it for is now used. That's certainly true, but I know that ANY time I've gone for a warranty after the initial sale, they will all negotiate with you. And these are warranties from the manufacturer - not some 3rd party administrator.

So if you end up haggling with them about an extended warranty, just find out what the standard "new" warranty is, and go from there.

 

Thanks to everyone for all the valuable insights and information.

 

Cal Coast has a new 2007 25th Anniversary non ABS on sale for 8400.00 and thats not OTD. Itold them they are so far out of the ball park..WTF Blue on that bike show 6600.. OK new add a few more bucks for being new ,but wouldnt give them more then 7K. They wont jump... Boo to them i bought 2 other bike there in past..

Jdog

 

Well, I just bought one (my second in 2 months I'm ashamed to say) for $7,608.00 (I financed both, I think cash price was $7,499) new non ABS OTD. I felt it was a fair price especially considering the insurance valued the first one at $7,995.

 

Gary, I'm sorry - I know that wasn't funny about buying two in the last 2 months, but I did laugh. You're a good sport, sir!