Motorbike discounts during EOFY sales can take many forms with price cuts, cashbacks, finance deals, run-out model clearances, and extra gear included for free. End of financial year sales are highlighted on many buyers’ calendars, offering the chance to get that machine you’ve been eyeing with a price reduction.
But with so many different types of offers and deals available, buyers should be well informed on what each means and which one offers them the best value. The ACCC is the regulator of competition and fair trading and can be a useful source of information. To get you quickly across what the offers and deals mean, we provide this explainer.
Straight Motorbike Discounts
A discount should be just as it says – a percentage or dollar amount off the recommended retail pricing. The discount may apply to all models from a brand or on certain models only. For brand-wide discounts, buyers will need to check with their dealer on the availability of stock at the discounted price.
As with all advertised prices, if it is advertised as ‘from’, request details on what extras may increase the price. Use our Finance Calculator for quick repayment estimates to compare models, discounts and to see if that discounted price works for your budget.
Motorbike Discounts on Run-Out and Clearance Sales
Many sales events are advertised as clearance or run-out sales. For those new to sales, that means the deal is offered only on certain models. These events allow dealerships to clear their existing stock to make way for new model releases. The sale may take the form of a price discount or other offer.
Clearances may be for a brand or from a dealership only. As the sale only applies to the current stock, the stock may be limited and so may your choices. Some dealerships may only have a small quantity of these machines.
Buyers should ensure that, despite the reduced price, the model on sale is the right machine for their riding. If the price is exceptional, it may be worth making some compromises to realise the savings.
With stock limitations, buyers are advised to arrange their Secured Bike Loan first with pre-approved financing. With the loan approved ahead of time, buyers can be quick to commit and ride away with the new machine at the great price.
Free Gear and Extras
A sale or promotional event may not actually offer a discount on the price but adds value to the deal with extras included at no extra charge. Whether this represents a savings for the buyer will depend on the individual.
Do you really want or need, say, $500 worth of merchandise or other extras? If not, it could be worth looking around to other motorcycle brands to see what deals they are offering on comparative machines. EOFY is a very popular time for sales and there are sure to be many to cover.
Motorbike Discounts with Cash Back
Cashbacks are quite common across many consumer markets. As described by the ACCC, this is a form of discounting. Buyers do get money back after they purchase the goods. But the process for claiming that money may not be straightforward. The dealer usually does not instantly give you the $500, $1,000 or whatever the cash back offer is, directly in cash or into your bank account. These offers usually involve the buyer sending in their claim to the manufacturer to claim their cash back.
If purchasing the motorcycle with financing, buyers will still need to source a loan for the full price, not the price less the cash back. When they receive the cash back, it may be used to make extra loan payments if the loan secured allows additional payments.
The advice for buyers from the ACCC is to look into the process to claim the cash back, how long it is expected to take, and always check any expiry date. You may need to make the claim within a set timeframe after which the offer may expire.
Dealer Finance Offer
Quite a common offer that appears, not only during sales but at other times, is dealer finance. These offers typically advertise a low rate of interest. While such offers may appear attractive, buyers are advised to consider the details closely. Consumer Credit is regulated by ASIC and rules and regulations apply to lenders offering loans to consumers.
Is the low interest rate fixed or variable? Is the rate advertised for the complete motorcycle loan term? If not, what rate comes into effect, and when? What are the repayment terms? Do you meet the eligibility criteria? What are the terms and conditions?
Buyers can take advantage of our online Motorcycle Finance Calculator and our access to a large lender base to compare any dealer offers with our current rates. Our rates are fixed and will remain unchanged over the complete fixed repayment term.
If working through the details of dealer finance to obtain specific figures to compare with our rates is too difficult, call us and one of our brokers will quickly do the computations for you. Buyers are welcome to connect with Jade without a referral to source a no obligation quote for comparison purposes.
There are sure to be some great discounts and deals on offer over the sale season. Be ready to secure the deal that suits you with the right financing, personally sourced to suit your requirements.
For a quick quote on models with motorbike discounts, contact Jade Bike Loans on 1300 000 003.
DISCLAIMER: IN REGARD TO ANY ERRORS OR MISREPRESENTATIONS IN THIS MATERIAL, NO LIABILITY IS ACCEPTED. THE DETAILS, CONTENT AND DATA IS PRESENTED PURELY FOR GENERAL INFORMATIONAL PURPOSES FOR MOTORBIKE BUYERS AND THOSE SEEKING MOTORCYCLE LOANS. THIS IS NOT INTENDED AS THE SOLE SOURCE OF INFORMATION FOR FINANCIAL DECISIONS. IF SPECIFIC ADVICE IS REQUIRED AROUND FINANCIAL DECISIONS, READERS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.
