The cost of getting a motorcycle is more than its sticker price. Sure, that will be the largest component. But there are other one-time and recurring fees. It's important to understand all the related costs of entering the motorcycle lifestyle, which will help you create an accurate budget and pick the best model for your price point.
Keep reading to uncover the full cost of buying a motorcycle. If you have any questions or want to shop motorcycles for sale near Detroit, Michigan, visit Bright Power Sports. Our dealership is located in Lincoln Park, Michigan, and we also serve those in Wayne County.
The biggest cost will be the motorcycle's sticker price. The price range will depend on various factors.
First, your riding experience. Beginner riders tend to spend between $5,000 and $10,000 for a new motorcycle. More advanced riders tend to spend between $10,000 and $35,000 for a new motorcycle.
Second, the age of the motorcycle. A new motorcycle from an older year will usually be more affordable than the latest model. A used motorcycle will be drastically more affordable - thanks to the effects of depreciation.
Third, the features that the motorcycle includes. As the features and accessories increase, so does the price.
Finally, the time of year that you visit a motorcycle dealership. Winter tends to be the motorcycle selling off-season, which means motorcycle dealerships tend to offer great deals to entice customers.
Another big expense is the cost of riding gear. Every motorcycle owner needs some essential gear to be protected against the weather, kicked-up debris, and in the event of a crash.
A helmet alone can cost between $70 to $300. The total gear costs average around $1,300. This includes a riding jacket, riding pants, gloves, boots, and eye protection. If you get items with extra features, such as waterproof materials or reflective materials, you will end up spending more. But the higher cost can translate into a more comfortable or more safe ride.
Every motorcycle will need some maintenance each year. This can be anything from an oil change to tire replacement to engine repair.
If you purchase a new motorcycle, maintenance or repair costs may fall under warranty protection and be free of charge. Even if you have to pay, it likely won't cost much. The more expensive maintenance tends to happen in the later years of a motorcycle's lifespan. If you get a used motorcycle, you will likely spend more money on maintenance. On average, motorcycle owners spend about $1,000 a year on maintenance costs.
Riders also need motorcycle insurance, which ranges from $200 and $500 each year. Plans can include protection in situations of injury, property damage, motorcycle damage, or motorcycle theft. Plans with more coverage will cost more upfront, but they can save you a fortune in out-of-pocket expenses (such as medical bills or replacing a stolen motorcycle).
You need fuel to get around town. The more often you ride, the higher your fuel costs will be. The average motorcycle rider spends about $300 a year on fuel. If you purchase a more fuel efficient model, your fuel costs will be lower.
Ready to shop motorcycles for sale near Detroit, Michigan? Check out the selection at Bright Power Sports. Explore our inventory online or visit our dealership in Lincoln Park, Michigan. Either way, our friendly staff is happy to help out. Tell us your budget, then we can recommend compatible models. We are proud to serve those in Detroit and Wayne County, Michigan.
