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.
FAQs
Basic, beginner-friendly motorcycles could cost between $5,000 and $10,000 brand new, though you may be able to get one for less if you buy used. If you're looking for a nicer bike or a model for more experienced drivers, you can expect to pay anywhere from $10,000 to $35,000.
How much money should you have to buy a motorcycle? ›
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.
What is a good budget for a motorcycle? ›
Beginners typically spend around $5,000 to $10,000 for a motorcycle.
How much does a motorcycle typically cost? ›
Beginner riders can expect to pay between $5,000 and $10,000 for a new motorcycle. Advanced riders can expect to pay between $10,000 and $35,000 for a new motorcycle. The more performance and features a motorcycle offers, the higher its price tag will be.
What is the average life of a motorcycle? ›
While some bikes might start showing their age around 20,000 miles, meticulously maintained machines can easily clock in 50,000 or even 90,000 miles before major issues arise. Think of it as a marathon, not a sprint: a well-cared-for bike can go the distance. A motorcycle's past whispers volumes about its future.
What is a full charge for motorcycle? ›
If the voltage measured 12.73 volts or better, then your battery is charged and ready to go. Anything between 12.06 volts and 12.62 volts means you battery needs to be charged for longer. Anything less than 12.06 volts and your battery might be ruined, but you can try charging it more.
Is 20k a lot for a motorcycle? ›
Smaller motorcycles like sports bikes are considered to be high mileage at between 20,000 to 30,000 miles. Larger models like cruisers and touring bikes are deemed high mileage at around 50,000 miles. There's nothing wrong with buying a used bike, loads of people do it, but not if it breaks down after the first month.
Is it hard to finance a motorcycle? ›
Since the bike serves as collateral, rates tend to be lower relative to unsecured loans (like personal loans, which we discuss below). It can also make it easier to qualify for a motorcycle loan if you have bad credit. However, if you can't make your payments, you risk losing your bike.
How much should I pay for a beginner motorcycle? ›
Beginner motorcycles typically range in price from $3,000 to $10,000. Based on the list below, the average price of a new beginner motorcycle is $5,550. And if you're curious about your neighbors, the most popular beginner bike is the Honda Grom.
Is motorcycle maintenance expensive? ›
The Typical Cost of Servicing Your Motorcycle
A good rule is to expect to pay around $800 to $1,500 a year to maintain your ride, depending on the driving you do, the motorcycle you own, the environment you keep it in, and so on.
So how often should you service your motorcycle? You'll need to change your oil and check your chain on a regular basis - every 6 months or 4,000 miles. Your tire pressure should be checked more frequently, at least once a month.
Is it cheaper to daily a motorcycle? ›
Generally, motorcycles are cheaper to maintain and repair because of their small size. While costs can vary depending on the car and the service needed, you will pay more to maintain and repair a vehicle. Cars often have more complex systems than motorcycles.
How much to put down on a motorcycle? ›
A good rule of thumb is to put a 10-20 percent down payment on a motorcycle. That gets you in a good, equitable position. If you have bad credit, putting more down can make you a better risk for lenders. It usually depends on credit criteria, but more people put 10 percent down than do double that.
How much is a real motorcycle? ›
Beginner riders typically pay between $5,000 and $10,000 for a new motorcycle. Experienced riders typically pay between $10,000 and $35,000 for a new motorcycle.
Is owning a motorcycle more expensive than owning a car? ›
Generally, owning a motorcycle is relatively cheaper than having a car. It has a lower initial cost, it is fuel efficient, and the insurance cost is also lower.
What is the cost price of a motorcycle? ›
Mileage type motorcycles are the ones that are below 150 cc with average mileage of about 60 to 70 kms per liter; they can cost about 75 to 80K. tourers are the ones which are little more powerful and can be used on long distance travels and its cost starts from 2 to 3 lakhs onwards.
What is the average depreciation of a motorcycle? ›
New motorcycles (up to 6 months old): 5% depreciation. Motorcycles aged 6 months to 1 year: 15% depreciation. Motorcycles aged 1 year to 2 years: 20% depreciation. Motorcycles aged 2 years to 3 years: 30% depreciation.
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!