The Full Cost of Buying a Motorcycle
Before you buy a motorcycle, you need to consider all of the costs associated with it — not just the sticker price. A life filled with adventure and adrenaline rushes is going to cost you more than just the price of your bike. You need to be aware of the additional one-time purchases as well as repeat expenses that come with motorcycle ownership. You don’t want to go in with a budget that only accounts for the motorcycle itself. Read on to learn more about the full cost of buying a motorcycle, and when you’re ready to check out some models, come visit us at Altus Motorsports in Altus, Oklahoma. We are proud to serve Amarillo, Texas too, so stop by and we will find the perfect motorcycle that works with your budget!
The Motorcycle
The first thing you need to consider is the price of the motorcycle. On average, a new motorcycle for beginners usually costs between $5,000 and $10,000. Advanced riders should expect a new bike to cost between $10,000 and $35,000.
It’s important to note that beginner models will usually be more affordable than heavy-duty, higher performing motorcycles. Furthermore, the more features and accessories you get, the higher the price will be. But if you’re looking for a more budget-friendly bike, you can look into a used motorcycle which will have a lower sticker price than new models. One more way to cut down on expenses is to buy during the off-season since dealers will offer sales to entice customers.
Riding Gear
You also need to take into account the riding gear you need to purchase. A helmet alone can cost anywhere from $70 to over $300 and total gear usually costs around $1,300. A helmet should be crash-tested and fit you well before you buy it. The helmet is a critical part of protecting yourself when riding so this can drive up the price. You should replace your helmet if it gets compromised (such as after an impact) or when it gets too old (usually around five years).
You will also want to purchase other essential riding gear like riding pants, a riding jacket, gloves, and boots. This gear will give you protection from the weather and if you get in a crash. Keep in mind that extra features like waterproof material will cost more.
Maintenance
Maintenance is another huge factor to consider when buying a motorcycle. On average, maintenance usually costs around $1,000 annually. Newer models won’t need as much upkeep whereas used bikes usually require higher maintenance costs. Your maintenance costs will also be impacted by how much you ride. The more you ride, the more often you’ll need to replace the tires.
Insurance
You also need to think about insurance costs. The average cost of motorcycle insurance is usually between $200 and $500 per year depending on what coverage you get. Some coverage will protect you in cases of injury, damage to your bike, theft, and even property damage. It’s a good idea to look into plenty of coverage since an unexpected medical bill following an injury can be quite expensive. You’ll save money in the long run with good coverage.
License and Riding Courses
Another cost of ownership is a motorcycle license. The application fee usually costs about $30. You can also look into a beginner rider’s course which will run you about $100. Even advanced riders can take classes to improve their skills which would be an additional cost to consider.
Fuel
Gas will usually cost you around $300 a year but the more you ride, the more you’ll have to spend on fuel. If you purchase a model with better fuel-efficiency, you won’t spend as much on gas. Motorcycles do tend to have better fuel-efficiency than cars so opting for a bike instead of a car can save you on fuel costs.
We hope you found this guide helpful and you have a better understanding of the full cost of motorcycle ownership. If you have any questions, our staff at Altus Motorsports in Altus, Oklahoma are happy to help! We are proud to serve Oklahoma and Amarillo, Texas. Come check out some models and we will get you on the road with the perfect motorcycle for you.