Nov
15

The Real Costs of Owning a Motorcycle

Author // NPR Car Talk
Posted in // Uncategorized

street bikesMotorcycles, or street bikes to some, are among the most popular alternative modes of transportation around. In 2015 alone, consumers in the U.S. purchased well over 500,000 motorcycles, a 3.55% increase in sales from the year before.

Street bikes have been a part of the average American’s life since the 1950s and became a way of life for many post-WWII. They’re a fun investment for any family, especially during the warmer months. But before you run off to your local Honda motorcycle dealer, or any other motorcycle brand dealership, you should keep the following in mind:

The Price Of Ownership
While it’s true that motorcycles are cheaper than most cars, and that they have cheaper gas mileage, there is more to owning one than just paying less at the pump. Let’s take a look at some additional costs that come with motorcycle ownership.

The Bike’s Cost
Cheaper than a car, a typical motorcycle will cost between $5,000 and $10,000 for a decent beginner bike. They’re not incredibly cheap, but most models aren’t terribly expensive either. You can get a lot for your money when you buy one.

Insurance Costs
You can get a decent rate on a motorcycle if you’re over 25 and have a nearly spotless driving record. Sometimes the rates are under $500 a year. But these aren’t the only factors that are taken into consideration. You also have the population of where you live, the theft rate of your model type, and other factors that need to be taken into consideration.

Maintenance
This is perhaps the most tiresome part of owning anything that gets wear and tear, but it’s a very necessary evil. Unfortunately, this is where the prices can start to add up. Between important components like tires, spark plugs, replacement belts, and more, you can see a pricey hike in bike-related expenses.

Tires on motorcycles can be especially expensive, running between $400 and $600 for a set. And you’ll have to replace them every 3,000 miles or so, depending on how hard you ride them. You’ll also have to replace the chains and drive belts, which can cost between $140 and $250. Combined with regular maintenance and tune-ups every 10,000 to 20,000 miles, another $800 to $1,500, and you’re starting to see a bill pile up.

So if you’re looking at owning one of these amazing machines for some summer fun, you might want to spend some time planning for the true costs that come with your purchase. Owning street bikes isn’t all windswept hair and sunny days, but if you’re willing to plan your financial future and put in the work, you’ll be rewarded with a beautiful bike that will last a lifetime.

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