iMotorsports Layaway Policy

Layaway Policy
iMotorsports – Elmhurst

Duration: 10/1/2019 – 4/1/2020

Fee: $300
For the Ryker program only – If at the end of the layaway the customer decides to finance the unit through an iMotorsports affiliate the $300 will be applied to the down payment.

Deposit: $1000/$1500/$2000 Non-Refundable

• Ryker 600 will be $1000
• Ryker 900 will be $1500
• Ryker Rally will be $2000

Deposit Transfers – We will allow Ryker deposits to be transferred to other Ryker units only.  Its important to understand a customer cannot opt for a non-Ryker unit such as a used motorcycle, Indian etc.  The transfer conditions are to encourage upgrades and to give customers flexibility if their financial situation changes.  Customers can opt to move up the ladder and only add the additional deposit amount to reserve the higher priced unit.  Should they decide to move down the ladder (i.e. from a Ryker Rally to a Ryker 600 etc.) they will not lose the difference, but the amount will be applied to the remaining balance for that unit.

Minimum monthly payment: $250 a month with 2 missed payments resulting in forfeiture of the initial deposit.

Term Extension: $300 fee for an additional 90 days.

Layaway Term: Unit only, does not include parts
We still want to build the hype with our parts and accessories on Ryker’s and even buildout the machine with the customer before we do the layaway.  This will give the customer a sense of their dream Ryker and set a baseline price in the customer’s head of what a fully dressed unit will cost.  But we do not want to limit the program’s availability by adding on $2,000 worth of parts to a deal.

• We want to avoid having to extend the layaway term because of an inability to pay
• By keeping the final amount lower its more likely the customer can finance

Once the layaway has been completed, we can go back and add parts and accessories and work the finance back end to maximize profitability.  For those customers who need a layaway program we want to encourage as much participation as possible. 

Fee: $300

Price Limitation: Units priced below $10,000*

Deposit: 

• $1000 for bikes up to $5,000
• $2000 for bikes from $5,001 to $10,000

Deposit Transfers – Deposits cannot be transferred between units

Minimum monthly payment: $250 a month with 2 missed payments resulting in forfeiture of the initial deposit.

Term Extension: $300 fee for an additional 90 days.

Layaway Term: Unit only, does not include parts

Selling Points

• The bikes will remain in our heated controlled environment nobody can sit on or play with the bike.
• Once the layaway is complete the bike still goes through our full-service program.

*There can be exceptions to the $10,000 limit if the initial deposit is enough to bring the total layaway amount to below $10,000.  These exceptions are done on a case by case basis.