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The Full Cost Of Getting A Motorcycle

Sep. 3 2020 Buying Guide By Crossroad Powersports

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Buying a motorcycle is an exciting investment, but are you aware of the full cost of ownership? Yes, there is the motorcycle’s sticker price. But that’s only a starting point. Other one-time purchases and repeat expenses need to be factored in so that you can get a realistic understanding of the financial investment. That way, you can pick the best motorcycle for your short-term and long-term budget.

Here at Crossroad Powersports, we strive to make your life easier. That’s why we created the following guide that covers the full cost of getting a motorcycle. If you have any questions or want to explore motorcycles for sale, visit our dealership. We are based in Upper Darby, Pennsylvania, and proudly serve those in Philadelphia as well as Wilmington, Delaware.

The Motorcycle

The Average Asking Price

The exact cost will vary depending on the make, model, and features. But beginner riders can expect to pay between $5,000 and $10,000 for a new motorcycle. Advanced riders usually spend between $10,000 and $35,000 for a new motorcycle.

Factors To Keep In Mind

Several factors can influence the motorcycle’s sticker price, which can make a given model fall inside or outside your budget.

  • Simple beginner models usually come at lower prices. Heavy-duty and higher performing motorcycles will be more expensive.

  • As features and accessories increase, the motorcycle’s price will go up. The most affordable models are the ones that are simple in design and basic in their perks.

  • Used motorcycles come at drastically lower prices, thanks to the effects of depreciation. The largest decrease in value happens during the model’s first year, so it’s easy to find a gently-used motorcycle for sale that still has plenty of life left.

  • Motorcycle prices dip in the off-season. Motorcycle dealerships see fewer customers, so they offer great sales to entice people to buy.

The Motorcycle Riding Gear

The Average Costs

Safe motorcycle riding requires certain gear. Helmets can range from $70 to over $300. The average cost of all the necessary gear is usually around $1,300. This is a significant upfront investment, but gear can last for many years. Plus, it’ll save you on hospital bills should you get into an accident!

Factors To Keep In Mind

  • Helmets must be replaced if their protection is compromised (which happens after an impact) or if they are over five years old (when the binding starts failing).

  • Features that improve comfort (such as waterproof or sweat-wicking material) or safety (such as reflective coating) will increase the price.

The Motorcycle Maintenance

Even the highest quality motorcycles will need regular upkeep. Some maintenance tasks help prevent issues from happening. Others help fix issues that have emerged. Motorcycle maintenance tends to cost around $1,000 each year.

Factors To Keep In Mind

  • New motorcycles will need less maintenance. Used models will need more frequent repairs and preventative maintenance.

  • The more often you ride, the sooner you will need to undergo maintenance tasks and replace various parts. For example, someone who commutes to work each day will wear out the tires faster and spend more money on replacement parts.

Motorcycle Insurance

Everyone needs motorcycle insurance. The cost varies depending on the specific policy, but is usually $200 to $500 per year.

Factors To Keep In Mind

  • Insurance costs can often save you money in the long-run. Hospital bills, replacing a stolen motorcycle, and other unexpected costs can be incredibly expensive without insurance coverage.

License And Riding Courses

New riders will want to take a beginner riding course, which is usually around $100. The application fee for a motorcycle license is usually around $30.

Factors To Keep In Mind

  • Additional riding courses can be a great way to develop and strengthen skills quickly. It will be an added expense, but can speed up the learning process.

Fuel

The average motorcycle rider spends about $300 a year on gas.

Factors To Keep In Mind

  • Getting a fuel-efficient motorcycle will result in impressive fuel savings.

  • A motorcycle is typically more fuel-efficient than a car. When you use your motorcycle rather than your car, you save money.

Ready to shop motorcycles for sale? Explore the models at Crossroad Powersports. Our friendly staff is always happy to answer questions, give advice, and help you find the perfect fit. Our dealership is located in Upper Darby, Pennsylvania. We proudly serve those in Philadelphia, Pennsylvania, and Wilmington, Delaware.