Let’s find out the real cost of a Motorcycle
It’s not a surprise that when gas prices spike during the warmer months, so do motorcycle sales. And while it’s true that some motorcycles do get better gas mileage than cars, and that they’re often cheaper to buy, the fact is that the cost of bike ownership goes way beyond the MSRP and price at the pump:
Motorcycle prices can vary wildly, but on average, if you’re buying a new motorcycle fit for a beginner, you’re probably spending anywhere between $5,000 and $10,000.
If you are over 25 and have a spotless driving record, you can get a pretty decent rate on insurance, possibly under $500 a year. Unfortunately, there’s a lot more involved than simply your age and driving record—the population density of where you live, the theft rate of the bike model, whether Christmas falls on a Tuesday…when it comes to insurance, it’s Thunderdome. Shop around, obviously, but just know that you’re definitely going to shell out some cash.
Equipment and Maintenance
This is where things can add up. Cars go a lot longer between service intervals, not to mention things like tire, spark plug, and belt replacement. Tires can be especially expensive on motorcycles, running between $400 and $600 for a set. And depending on how hard you ride, you may have to change at least the rear tire every 3,000 miles or so. Chains and drive belts need occasional replacing, and those can cost between $140 and $250. Maintenance intervals can run anywhere between 5,000 and 20,000 miles, depending on the motorcycle, but if there’s a valve adjustment involved, expect to pay anywhere between $800 and $1,500. Add in regular oil changes, chain maintenance, and various other odds and ends and, if you ride often, you can expect to drop at least $1,000 per year just on maintenance.
At the very least you will need a helmet, which can run anywhere from $150 to $900. But if a helmet is all you think you need, you should stick to four wheels. The smart rider who values his skin will also wear a motor jacket, preferably high-abrasion grade leather, gloves, and boots at all times. And while most people ride in jeans, the truth is, if you go down at any speed above 15 mph, jeans will come off like a wet paper towel; protective pants are highly recommended. Conservatively, you should plan to initially spend at least $800 to $1,200 on new gear, which, of course, will eventually have to be replaced as items wear out.
