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The Full Cost of Owning a Motorcycle

Jun. 22 2023 Buying Guide By The Cycle Exchange

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Whether you're a beginner or an experienced rider, owning a motorcycle is a thrilling experience. Cruising down the highway is a feeling of freedom unlike any other. However, before you make the investment, it's important to understand the full cost of owning a motorcycle. The price of a new bike may seem affordable, but there are many more expenses to consider. In this brief guide, we’ll break down all the costs you should be aware of before making the commitment to buy a motorcycle.

The Cost of the Bike Itself

Obviously, the first expense you'll incur is the actual cost of the motorcycle. The price of the bike can vary depending on the brand and model you choose. Newer, top-of-the-line models can run upwards of $20,000, while the price of pre-owned models will depend on various factors, like the condition of the bike and manufacturing year. Be sure to set a firm budget and stick to it so that you don’t end up overspending.

Insurance

Depending on factors such as your age, driving record, and location, expect to pay anywhere from a few hundred dollars to thousands of dollars annually in insurance premiums. Keep in mind that the coverage required may differ from one rider to the next, so do your research and make sure to shop around to find the best policy for you.

Maintenance and Repairs

Motorcycles require regular maintenance to keep them running properly. Oil changes, tire replacements, and brake inspections are important tasks that should be done regularly. It’s important to take your bike to a reputable mechanic for these services. These expenses can add up quickly, so you’ll want to budget accordingly.

Fuel

One of the benefits of owning a motorcycle is that they tend to get better gas mileage than cars. However, the cost of fuel can still add up over time. It’s essential to consider how often you’ll be riding your motorcycle and how far you’ll be traveling. The cost of fuel will depend on the price of gas in your area and how fuel-efficient your bike is.

By understanding these ownership costs, you can factor all expenses into your budget before buying a motorcycle. When you’re ready to check out our selection of motorcycles for sale, visit The Cycle Exchange in Andover and Ledgewood, NJ. We welcome all our customers coming from New York, NY, and Philadelphia, PA.