Jax Teller from “Sons of Anarchy” and Fonzie from the American sitcom “Happy Days” have been an inspiration to half of the modern motorcyclist youth today. They played a role of a pillar to help expand this dream and incorporate it into the mind of modern motorcyclists.
However, it is a fact that the fulfillment of dreams comes at a cost. This cost does not end with buying the motorcycle. In fact, this is where the true game began.
To help you save all that time of cost estimation of owning a motorcycle, we have broken it down for you up to the last cent.
The main list of expenditures is listed for you below.
Cost Highlights
The cost of owning a motorcycle falls under the following
- Bike itself
- Insurance
- Gear
- Fuel
- License
- Maintenance costs
Let’s go through them one by one below.
1. The Bike Itself
The story starts with buying a bike. The price of a motorcycle may vary from model to model, depending on the type you want, whether it’s a heavy-duty or a sports bike.
Beginner bikes may cost between $5000 to $10,000. If you are looking for a cheaper option, second-hand motorcycles are the best option.
2. Insurance
If you bought a motorcycle, you definitely want to protect it. They start from $500 and increase with added services.
Insurance is the best way to cover all the costs of accidental damages, medical bills, and even cases of theft.
The cost of insurance varies according to the policies. Some packages like Compulsory Third Party come with the vehicle to provide basic coverage.
While advanced packages like comprehensive Insurance cover a wider range of costs.
3. Safety Gear
These are the hidden costs of a motorcycle. Personal safety should be a priority when it comes to owning a motorcycle.
Safety gear includes helmets, gloves, strong leather jackets, boots, and riding pants. Each has its own way of protection.
The minimum requirement is a helmet that ranges from $150-to $900 depending on the quality.
The expert’s opinion is that you should at least put aside $800-$1200 for these gears as safety comes first.
4. License
Without a license, your motorcycle is nothing but another decoration ornament for you.
License is a permit to ride a bike and it comes with a cost. This is because the safety of other riders and pedestrians is as important as yours is.
The cost of a license varies from country to country. But you must be older than 16 to get one.
5. Fuel
Fuel is the part and parcel of your motorcycle without which it is useless. This is a continuous budget part that couldn’t be skipped.
A motorcycle uses a minimum of 150 liters of gas per year. The average cost per gallon is around $3. So annually it costs $245.
But if you are budget conscious, these may be further cut down by planning and budgeting bi-annual or annual trips.
6. Maintenance and Repairs
Motorcycles may look like fuel-efficient vehicles but their maintenance costs are more than cars. This is due to the fact that motorcycles need more frequent maintenance than other vehicles.
New bikes might need a repair after 3 years but older ones need one more frequently.
The main repairs include tires, head and tail lamps, chains, and electrical components. The tires are the most expensive that need replacement every 3000 miles.
Regular replacements include oil replacement, brakes, and chains that cost around $800-$1500.
Types of Costs
Motorcycle costs is divided into two main categories as
● One Time cost
These include bike, gears, and tools
● Ongoing Cost
These include license, fuel, and maintenance charges on a daily, monthly, bi-annually, and annual basis.
Everything comes with pros and cons but owning a motorcycle is an appreciable alternative to cars. There are definitely many aspects that help reduce expenses when it comes to motorcycles than cars like gas and insurance for instance.
FAQs
Is owning a motorcycle cheaper than a car?
Naturally, motorcycles are much cheaper. The fuel usage is more efficient. The only difference is maintenance costs that are higher than cars.
How much does it cost to maintain a motorcycle?
Expertise says that annually it costs around $800-$1500 to maintain your motorcycle. It depends on the type of motorcycle, repairs needed, and frequency of repairs.
