I’ve been fascinated with the idea of the iconic Can Am Spyder for six years. The extra size and stability of three wheeled trikes gives me comfort when sharing the road with larger vehicles. I delayed purchasing a Can Am for the same reason many potential trike owners (Can Am, Honda, Harley Davidson) do; the astronomical cost. I toyed with Chinese scooters and reverse trikes made by Kandi including the150cc MC_D150TKA trike and the 250cc MC-95-250 Spyder Replica. I spent many hours fixing or trying to fix these cheaper scooters and the both lacked the power and feel of a can am.
On Sept. 28 2013 I signed the financing papers with Knoxville TVA Employees Credit Union after making an offer on a new 2013 Can Am RT-S SE5. Here is a breakdown of the biggest surprises, options offered and the total cost to drive one of these incredible machines home.
Negotiations Before the Sale
I purchased my Can Am at Mountain Motorsports in Sevierville, TN not far from Pigeon Forge, TN right off exit 407. I love to negotiate almost everything. I specifically looked at two models of the Can Am; the smaller Spyder RS-S SE5 MSRP $19,999 and the larger cruising bike Spyder RT-S SE5 MSRP $27,499. I had seen end of the year ads, so that’s where negotiations started. The salesman Jordan was nice and fairly knowledgeable and immediately priced the RS-S SE5 at $16,400 and the RT-S SE5 at $23,000. After offering $21K and told no for the RT I went home and shopped online. Louis Powersports in TX had the RT’s with same options for $20,399. So after a couple of short text the manager took the $21K, but only on a demo bike that had 100 miles on it.
Options, Maintenance and Warranties from BRP
EBay had the 36 month BEST (Manufactures Warranty) for $859 total and the dealership offered it for $1249 + Tax, but in the midst of shopping for the best warranty price Smoky Mountain Motorsports said that BRP was offering a 4yr warranty free on Cam Am for the end of the year.
My biggest surprise came when they explained the maintenance package cost. I have read several forums and though the amounts vary the details of the work performed in each service is not, but all are expensive. The major servicing at different mileage points on the Can Am are very expensive ($200 – $700). I was told that the valve adjustment and scheduled maintenance at 14K miles took two days to complete. Since I only had limited information to base this on, I purchased the 36 month “discount” maintenance package for $1995.
Options on these bikes are based primarily on the model you buy with the RS-SM5 being base and the RT Limited being top of the line, but some of the available options that vary by model or cost is the semi automatic gear shift, runner pads, power windshield, premium wheels, navigation, heated seats and handgrips.
Purchase Agreement, Monthly Payment and Yearly Insurance Cost for a 2013 Can Am Spyder RT-S SE5
Insurance cost and affordable financing options is going to greatly be determined by your credit score and driving record. Since the Can Am is an expensive recreational vehicle I wasn’t sure what kind of cost I would be looking at until I called. Motorcycle insurance with Progressive was $75 a year for the 250cc spyder replica, so I called Progressive first about insuring my new 2013 RT-S SE5. My first quote was $948 a year with a $500 deductible. After raising the deductible to $1000 it dropped to $700 a year, but could go to $600 if I got my motorcycle endorsement. This seemed high, so I called Geico at midnight and they quoted me $363 a year with better coverage. Happy about that!! Saved me enough to purchase LED ground effect lights for $249 and $150 to install. A dollar saved is a dollar earned.
In the last 5 years I’ve purchased a 2011 Mazda CX-7, 2010 Dodge Ram, 2009 Dodge Ram , 2013 Toyota Prius V and a 2010 Nissan Titan and like my Can am have all been financed through TVA Employee Credit Union. I love this bank and I enjoy the simple fee loans with low interest rates. I have 2.5% on my Prius V and 2.74% on my RT-S SE5 Can Am with a $335 a month payment for 72 months that will cost me $1904 interest for the life of the loan. I put $2500 down and my total cost after tax for the 2013 Can Am RT-S SE5 is $ 24,751.90 + $363 for the yearly insurance.
I purchased the RT-S SE5 for the extra cargo space and back seat to make my wife and daughter more comfortable and secure on rides, but probably could have saved $6K- $10K on the smaller RS with fewer options. The semi automatic gear shift is a great feature that makes driving the Can Am a breeze. I’m glad I purchased the 250cc spyder scooter first, because it familiarized me with the handling (different than a two wheel bike) and using a foot brake like an ATV before purchasing such an expensive bike.
