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The Full Cost of Buying a Motorcycle

Jan. 14 2021 Buying Guide By Sky Powersports Sanford

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When you buy a motorcycle, you buy a lifestyle. Get ready for adventure, adrenaline, and thrills! But the costs associated with buying a motorcycle go beyond the sticker price. It’s far too easy for first-time buyers to set their budget with only the initial price in mind. Luckily for you, we’ve compiled a helpful guide with everything you need to know about the full cost of buying a motorcycle.

Keep reading to learn how to build your budget, and give us a call at Sky Powersports Sanford when you’re ready to check out some bikes for sale. We are located in Sanford, Florida and proudly serve Daytona Beach and Deltona. Let’s get you on the road in a sleek and powerful motorcycle!

The Motorcycle

Of course, the first major cost you’re going to encounter is the initial price of the motorcycle. On average, new bikes for beginners usually cost between $5,000 and $10,000. New bikes for advanced riders are usually in the range of $10,000 and $35,000.

Factors to Consider

  • Beginner models are usually the most budget-friendly option, while higher performing models cost more.
  • More features and accessories means a higher price
  • One way to reduce costs is by buying a used model. The cost of a pre-owned bike will be lower.
  • Cut costs by buying during the off-season, which is usually in the winter. Dealerships see a dip in sales, so they are more likely to offer enticing offers during this time.

The Riding Gear

Another component of the full cost of buying a motorcycle is the riding gear. On average, helmets alone can cost anywhere from $70 to over $300. All essential gear will usually end up costing you around $1,300.

Factors to Consider

  • Helmets need to be crash-tested and fit well to offer proper protection. This drives up the price.
  • Helmets need to be replaced after they are compromised in a crash/impact. They should also be replaced when they get too old (usually after around five years).
  • Other essential gear like riding pants, a riding jacket, gloves, and boots will offer you the necessary protection from the weather and protect you in the event of a crash.
  • Extra features like waterproof or reflective materials will increase the cost.

Maintenance 

Maintenance fees are another major part of the full cost of buying a motorcycle. These fees usually cost around $1,000 a year.

Factors to Consider

  • Newer models won’t need as much upkeep, while used models usually have higher maintenance costs.
  • Maintenance fees are influenced by how often you ride. The more you ride, the more often you’ll need to replace the tires.
  • Think about the average lifespan of parts like tires and lights to figure out the cost of replacement parts.

Insurance

Insurance usually costs somewhere between $200 and $500 per year depending on your specific coverage.

Factors to Consider

  • Depending on what insurance you purchase, your coverage can protect you in the case of injury, motorcycle damage, theft, and property damage.
  • Bills for unexpected situations like medical bills after an injury, can be expensive. Getting plenty of motorcycle coverage will save you money in the long run.

License and Riding Courses

Other costs of buying a motorcycle include license and riding courses fees. The application fee usually costs about $30. Beginner rider’s courses usually cost about $100.

Factors to Consider

  • Some motorcycle riders may enjoy taking advanced classes to hone their skills. These are another expense to consider.

Fuel 

On average, fuel is going to cost you $300 a year.

Factors to Consider

  • The more you ride, the more you’ll spend on gas.
  • The more fuel-efficient your motorcycle is, the less you’ll spend on gas.
  • Motorcycles tend to have better fuel-efficiency than cars. You’ll be saving money on fuel every time you take your bike instead of driving your car.

We hope this guide was helpful and you understand the full cost of buying a motorcycle! When you’re ready to check out some bikes for sale, give us a call at Sky Powersports Sanford in Sanford, Florida. We are proud to serve Daytona Beach and Deltona. Get ready for a life of thrills when you get on your new motorcycle!