| Author | Message | ||
     Bboybry |
i bought my 1125r in march of 2008. anyway the tag said msrp 11,9**. somehow i got out the door owing 16,8** and some cents...i kept trying to get them to come down over like a 3 week period but they wouldn't budge at all. i feel like i got majorly •••••• because even now that i went with the highest payment option on the loan (which i did so i wouldnt be upside down when trying to resell) somehow i still owe $11,*** and i just saw a guy in my area selling his on craigslist for 7,900!!! i'm infuriated...i'm super tight on cash and i have a suspicion that that guy may have gotten a way better deal than i did. any advice or ideas on what i can do? i don't wanna default but i wanna get rid of this bike without being 4 grand upside down! | ||
| Hellgate |
You signed up for the loan, good or bad, and you are responsible for it. If you've got 11K left you must have quite a few years left on your loan. Have you contacted the lender to see if they can work with you? The last thing you want to do is default. Zero down, right? Not to rub salt in the wound too much but...I waited a year and bought and '08 at a screaming deal. The screaming deal helps when I want to scream at the shop time I've experianced this year... (Message edited by hellgate on September 19, 2009) | ||
| Ft_bstrd |
Unfortunately, your experience is part of the price of being first on you block to buy a new model. My buddy spent $800 on a DVD player when they first came out. Sorry man. | ||
| Badlionsfan |
Do I feel like I got screwed? Nope. My dealer gave me what I thought was a fair amount on my trade in (cityX), and sold it for a little less than I would have. As far as your loan numbers, interest rates have a lot to do with how long it takes to get back into the black. You didn't say what if any down payment u had. My interest rate is higher than I'd like, but that's a bed I made from 18-22 years old with credit card mistakes. As far as the craigs list ad, don't worry about what other people have going on. You bought your bike very early, you paid full price. I bought mine in aug last year, sticker price was $9995, many have gotten better deals than me since then. Also, said craiglister may have put up more of a down payment or even paid cash, you just don't know and like I said, it doesn't matter to you or change your situation. (Message edited by Badlionsfan on September 19, 2009) | ||
| T_man |
In short; Keep it. To elaborate though; Anytime you drive a new vehicle off the lot you lose a good percentage of what you paid. Nothing you can do about it, fact of life. Enjoy the bike for a few more seasons and after that if your still bent on selling it, at least you got some use out of it AND can list it for no less than you'd be forced to list it if you were to sell it tomorrow. Also try to look at your bike as an investment; in early '08 this bike was percieved as a frickin' disaster due to the unsorted fueling, now the '09's are sorted the bike is now seen in a bit better light. Now, consider the racing success the 1125R has had in the ol US of A. Consider how racing success drives sales. I'd bet our 1125R's worth on the used market will start to bounce back with continued success on the track. Don't give up yet dude, you've got nothing to lose by keeping it a while longer. PS. At LEAST wait till spring! | ||
| Ft_bstrd |
Also keep in mind what happened in the market between March 2008 and now. It ain't the same buying market it used to be. | ||
| Chadhargis |
I got a good deal on my CR. For what I paid for it, I don't thing there is another bike made that is anywhere near it. I was considering an RC51, but even 2004 models were selling for $5000-$6000 in decent shape with low mileage. I paid a bit more and got the CR. I think it's a better bike. | ||
| Oldog |
Bboy You need to sit down and think thru this, a. did you dealer finnance? b. did you shop the finnance and the deal c. did you buy "extended warranty" ? d. did you buy finnance insurance? If you purchased a warranty extention you paid about 1,000$ for it in round numbers. finnance insurance likely about 500$ I had several dealers Tell me that the interest usualy around 11~12 % were a deal [ bull cookies! ] hd offered about 6~7% but you had to outsource to another lender ( i did that ) to get their attention. you see the finnance of the purchase is as lucretive as the sale.. maybe even more When you buy on time BEFORE you sign or Pay any thing Do this add up the total for the payments and the down payment for the item, subtract the cash price from that, the remaining $$ is what you pay to get it now. determine the % additional that is the % you ACTUALY pay not the APR..... Many folks roll the sales tax into the note, DUMB you pay interest on TAX! When you purchase be ready to walk away, its just business, I am sorry to hear that you have gotten "Schooled" that way. get the paper work out and review it. learn from whats happened. Me I would enjoy the bike and try and learn from my mistake, I too have been right where you are never again, ( I paid out almost 16K for an X1 ) I'm tough to deal with ask FTBstrd he just sold me an '08 1125 at a deal... I spent 2 months calling and checking different places, for both the finnance and the sale | ||
| Bboybry |
ah gotcha. yeah my interest rate is actually killer...5.9% but i still can't help but feel like my balance is hardly decreasing...maybe it's just my perception and my eagerness to reduce my debt (which this is the only debt i have). i dunno just kinda pissed me off when i saw one guy selling his on craigslist for so much lower than i owe. i guess i should just start doubling up on payments when i can to at least save some money in interest. F-M-L haha. sometimes ya gotta laugh just to keep from crying. | ||
| Oldog |
5.9 is a GREAT RATE look over the contract, I bet you purchased some thing you were not expecting one other tactic, pay early and pay extra which is to be applied to the principal that will help pay off the debit quicker My note was upside down most of the 6 year term... yes I said six Dumb Huh? | ||
| Court |
Cognitive dissonance. Pay an extra $100 with each payment. You'll be amazed at how fast it goes away.
| ||
| Froggy |
We need more details. $16k sounds like full 12k msrp + fright and prep + tax + finance charge. What are your payments and for how long? | ||
| Fresnobuell |
I paid full MSRP of $12K and ALL the other fees. I believe my OTD total was $13,600 IIRC. $16K seem way high to me. | ||
| Blake |
I agree, that doesn't add up, not even close. Might have included extended warranty or a bunch of accessories. | ||
| Smoke |
paid list also with a couple of options(heated grips and tankbag) in dec08. paid 1000 down, for the options, no ext warranty, paid cash for tax, 250 prep and paper. 5.75% apr, payoff today about $7200. right now is a great time to buy!!(i'm keeping what i have) oh yeah, payment is 10 bucks a day, i think i'll skip lunch. tim | ||
| Moosestang |
Something doesn't add up, be specific. Either you are paying more than 5.9% interest or you financed it for 8 years. What is the sales tax in your state? | ||
| Doctorneon |
Nobody screwed you but you. You should have done the math. | ||
| Xbswede |
NO! | ||
| Reepicheep |
Some poor soul paid over $30,000 for the Saab 9-3 I am currently really enjoying owning, and put less then 100,000 miles on it. Six years later, I bought it for $7000 cash. Buy new and enjoy new (I did on my 05 XB9SX, because I didn't want to wait 4 years to get a deal on one), but know there is a price for it... | ||
| Oldog |
Pay an extra $100 with each payment. You'll be amazed at how fast it goes away. "Thats an accurate statement" Errata 5 years Math 257.00$ X 60 payments = 15,420 + 1,000 down add to this 1 helmet, one jacket, taxes, fees, Insurance down payment, a book keeping "screw up" that cost me about 750.00$ bike was 10,800.00$ jacket was just over 300$ helment was 250$ doc fees are about 300$} taxes same expensive education.... I enjoyed it any way. Much better deal with Jeremy At Bumpus Well worth the effort, My sage advice.. be prepared to walk away, tell the dealer what you expect up front understand that they have to make a living too. be willing to look for a deal If you walk in no info, just "gotta have" you will "get" what you want, but at a price, Lets go ride =) (Message edited by oldog on September 20, 2009) | ||
| Chadhargis |
If you have a good local dealer who represents the brand well, then do everything you can to do business with them. Not saying you should take a screwing, but give the a chance to earn your business. | ||
| Xl1200r |
If you have a good local dealer who represents the brand well, then do everything you can to do business with them. Not saying you should take a screwing, but give the a chance to earn your business. Gotta agree, there. My dealer does me no favors on price, but everyone in there knows me by name, and they help me out in other ways. When I bought my XB, they were willing to take my trade to hold the bike for 4 months over the winter, not charge me for storage and let me pay the the rest of the money when I got my tax refund. I wouldn't have ever expected them to go for that deal, but they did. Nothing real big for the CR, but they did let me have the first one they got in, and when the delivery date got pushed back they helped me a lot to find an alternative bike, and spent many phone calls talking to Buell reps to figure out what the deal was. When the cam chain tensioner recall came out, I found out about it here and went to the dealer to find out if I was affected. One step in the door and one of the office ladies stopped me to tell me about it because she knew what I rode, and she had no part in that purchase. That's a businesses that I enjoy supporting.} | ||
| Ft_bstrd |
Having been on both sides of the "sales desk" the equation for fairness isn't really that different. In order for the deal to be a good one, the dealer has to make enough money to cover expenses and make a reasonable profit. In order for the deal to be a good one, the buyer pays a reasonable price based upon availability, features, and novelty that permits the dealer to cover expenses and make a reasonable profit. We have walked away from a couple of deals recently because we couldn't cover enough profit to cover our expenses and make a profit for the dealership. Usually, that profit is measured in a few hundred dollars. | ||
| Cyclonedon |
i bought my 1125r in march of 2008. anyway the tag said msrp 11,9**. somehow i got out the door owing 16,8** did they supply you with a jar of vaseline?  | ||
| Ratgin |
Some dealers are nutz,,no idea why they think they can get away with it. When I was ready to trade in my 09 nightster i went to two local dealers. Both wanted crazy amounts my bike + (1k) for a 08 or bike +(5k+) for a 09 1125r. I ended up calling another dealer thats a 5 hour drive away and ended up basically trading even (my used 09 nightster + $800 for a new 09 1125r out the door) How do they account for 5k difference on selling 09 1125r's when both claim they are selling "at cost"? | ||
| Ponti1 |
Woah...I read the title of this thread, and thought for sure it was political and somehow related to a democratic vote in the last presidential election. | ||
| Court |
>>>i bought my 1125r in march of 2008. anyway the tag said msrp 11,9**. somehow i got out the door owing 16,8** I keep looking at that and trying to figure it out . . . . I can't even come close to getting an 1125R to $17,000. I think, correct me if I am wrong, you could buy TWO for that. | ||
| Cyclonedon |
I keep looking at that and trying to figure it out . . . . I can't even come close to getting an 1125R to $17,000. I think, correct me if I am wrong, you could buy TWO for that. maybe he just hasn't had time to go back and pick-up the second bike yet!  | ||
| Not_purple_s2 |
As far as Paying MSRP + fees and such, well that's what you have to pay to be the first on the block to get the new model. That's how it works for nearly all bikes, cars, even computers and electronics. If you want to save money then wait until next years model is introduced and the dealers start making crazy deals on all the "old" models. The discounts on '08 1125R's are more so than usual largely because of the highly publicized "bugs" of the 08's that got worked out in the 09 model. | ||
| Court |
>>>The discounts on '08 1125R's are more so than usual largely because of the highly publicized "bugs" of the 08's that got worked out in the 09 model. Maybe . . among some of us. But generally it's simply due to the malaise in the economy. The 2008 Porsches, still sitting in dealers and with no "bugs" are selling at a larger discount than remaining 2008 1125R's. |
