The Costs of Owning a Motorcycle
When you begin debating whether or not to buy a motorcycle, one of your main concerns is likely the cost of ownership in the long run. Beyond the initial price, you’ll also have different costs over the lifespan of ownership. As you budget for this exciting purchase, it’s helpful to consider the financial obligations you’ll have once you ride off the lot.
Motorcycle Upkeep
The upkeep of your bike is likely the biggest continuous obligation once you’ve made the purchase. Upkeep will primarily include maintenance and fuel.
When it comes to maintenance costs, there will be some deciding factors that determine how much you’ll have to spend. Newer models won’t usually need as much care and it might be simpler to get the right parts. Your riding frequency will also play a role in how often you need to perform maintenance tasks. For example, if you ride your motorcycle a lot, you may need to account for more frequent tire changes.
Motorcycles get great fuel mileage, but the price of fuel will still be something you have to sustain. You can watch fuel trends to have an idea of how much you’ll spend seasonally on fueling up!
Riding Gear
Another important cost to figure into your budget is the price of riding gear. These items can be somewhat costly, but you want high-quality options for safety on the road. The basic items you’ll need include a helmet, jacket, and gloves, but you may also want specific riding pants and shoes.
The fit of your gear is important for proper protection. You should have a helmet fitted and choose clothing that fits exactly right. Loose clothing won’t be as protective and if it fits too tightly you won’t be very comfortable as you ride!
Insurance
The cost of insurance can vary based on the motorcycle type, your age, your location, and the bike’s model year. It will also be dependent on the coverage plan you select.
Before you commit to purchasing a motorcycle, you should speak to your current provider or do some research to find out how much your policy could be.
Registration Fees
Just like other vehicles, you’ll need to keep your motorcycle registration updated within your state. The registration and plate fees can differ from place to place, so you may need to contact your location entity to determine the average price.
Owning a motorcycle is well worth the upkeep and costs over time. You’ll get to enjoy the thrill of riding and make friends along the way! Our team at Maxey’s Motorsports, located in Oklahoma City, OK, would love to help you find the perfect motorcycle. We proudly serve the Tulsa and Edmond areas.