Things to Negotiate while Buying a New Bike
- Author :
- TATA AIG Team
- Published on :
There are several videos about expert negotiators who intuitively know how to pay the best price for any product. But not everyone possesses the skills of bargaining, and for big purchases like a two-wheeler, knowing how to negotiate can help you save a lot of money. You can even get additional goodies and features along with the basic discount. We have put together a list of factors to help you master bike haggle for your next two-wheeler purchase. Along with learning how to negotiate motorcycle prices, it is also important to learn the importance of comprehensive insurance for 2-wheeler.
Whenever you purchase a two-wheeler make sure you adequately protect it with a comprehensive bike insurance policy that can take care of your bike and yourself in several road scenarios. Having understood the importance of insurance for 2-wheelers let’s understand how can you negotiate motorcycle prices.
How to Negotiate Motorcycle Price?
Most individuals who go to purchase two-wheelers don’t even know that the prices of bikes can be negotiated. So, for those asking the question: is the price of bikes negotiable? The answer is, yes. There are, however, some factors to bear in mind at the time of a two-wheeler purchase to help you save money:
Decide Your Budget
Before commencing with your bike haggle, determine your budget. Analyse and decide how much you can spend on your new two-wheeler. While outlining your budget, you will also have to factor in associated costs, such as the premiums for your comprehensive bike insurance policy and the cost of maintenance and fuel. When you purchase a two-wheeler, you will also have to incorporate the costs of the GST applicable as well as the registration fees.
Research About the Vehicle
Understanding the diverse needs of each individual, two-wheeler manufacturers curate bikes to cater to each of these needs. If the sheer number of vehicles you can choose from overwhelms you, you can start by making a list of what you would expect from your two-wheeler. For instance, some individuals are looking for a sporty bike, whereas others may be looking for a two-wheeler for regular city commutes. Once you know this, you can look up two-wheelers online that meet your criteria. Make sure you also take a look at the competitors of the vehicle you are purchasing and read the list of inclusions and exclusions. It is important to be informed about your purchase.
Reach Out to the Dealers
Once you decide on which two-wheeler you are going to buy, you can reach out to different bike dealers and get a quote from them. Never make a thoughtless purchase. Instead, check the price of the bike offered by different dealers and compare it appropriately.
After you get the price quotations from different bike dealers, select the one you will be going ahead with. Here is where the process of negotiations begins. The more informed you are about the vehicle and the market rates, the easier it will be for you to negotiate. Start with comparing real-time offers to get a rough idea of the prices and use that as a starting point for your discussion. Here are some tips to help you negotiate the price of your two-wheeler:
Try a different state: Check the price of the vehicle you are seeking in a different state because chances are that the price would be lower when you change the area of purchase. While doing so, however, you must also take into account the transportation and shipping charges. Several times individuals decide to drive their vehicle back home to their state.
Be strategic during negotiations: Ensure you negotiate with the exact amount you have decided without letting your emotions get the better of you. Always be wise and prudent during negotiations.
Look beyond the cost of the vehicle: Contrary to popular opinion, you must not quote a price that is too much below the quotation shared with you. Especially because the cost is not the only factor involved when it comes to two-wheeler price negotiations. You can ask for free benefits or price reductions on associated features such as servicing, upgrades, and more.
Look for festive sales and discounts: If you are not in a rush to purchase a new two-wheeler, it would be a good idea to wait for festive season discounts and sales. You can check the bike dealers’ website for any upcoming sales and discounts.
Pay in cash: Several bike dealers offer a significant discount if the vehicle has been purchased in cash instead of swiping a card. And so, before making the payment, check whether paying in cash would help you get a better discount on the price of your two-wheeler.
● Be sensitive to the demand: If the bike you are seeking has an already high demand, it would be prudent to wait until the demand subsides to get a more reasonable cost for your two-wheeler.
The aforementioned tips are great for first-time buyers as they help you understand how can you negotiate motorcycle prices in the best way. While closing the deal, be attentive to the price offered by the dealer and be firm with your decision. Once you purchase your two-wheeler at the best price, you can then move on to secure it appropriately with a comprehensive bike insurance policy.
Finding the Right Insurance Policy for Your Two-Wheeler
Although bikes are a great way to travel around the city, bike riders are more exposed on the roads and can be susceptible to severe injuries. Therefore, it is essential that the policy you choose offers adequate protection. Here are some things you must consider while purchasing insurance:
- Choose insurance for the 2-wheeler based on the model of your bike
- Bear in mind that the higher the cubic capacity of your bike the higher will be the premium that you will be charged with
- Strengthen your basic insurance policy with appropriate riders and add-ons. The insurance policy by Tata AIG comes with a choice of eight unique add-ons to enhance rider security.
- Before investing, always compare two-wheeler insurance policies to find the best cover by making an informed purchase.
Purchasing a two-wheeler is always an exciting thing. A two-wheeler is your best companion on traffic-packed roads. However, to ensure you get the best price for your new bike, it is important to learn negotiation skills. On a very light note, always remember that every price is negotiable for Indians.
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.