The Full Cost Of Buying A Motorcycle | ATVs and More



The Full Cost Of Buying A Motorcycle

ATVs and More | 03/20/2020
A motorcycle is a great investment in adventure, excitement, and an improved lifestyle. But before you make a purchase, it’s helpful to have the full picture since the cost of getting a motorbike extends beyond the sticker price. There are other costs, such as getting safety gear or paying for motorbike insurance. Keep reading to learn more about expenses to factor into your budget. If you have questions or want to explore motorcycles for sale, head over to ATVs and More. Our dealership is based in Salem, Illinois. We also proudly serve those in St. Louis, Missouri, and Mount Vernon, Illinois.
1. The Motorcycle
Average Cost
  • Beginner riders typically pay between $5,000 and $10,000 for a new motorcycle.
  • Experienced riders typically pay between $10,000 and $35,000 for a new motorcycle.
Relevant Factors
  • Motorcycles with more features and higher performance capabilities will cost more.
  • Used motorcycles will cost significantly less due to depreciation. With a little research, you can find gently-used motorbikes with a much lower sticker price.
  • There are often great sales during the winter months. Dealerships see a decline in sales during this off-season, which prompts them to offer enticing deals and discounts.
2. The Riding Gear
Average Cost
  • Helmet prices start around $70, but can go up to $300.
  • All of the required safety gear tends to be $1,300 on average.
Relevant Factors
  • Helmets need to be replaced if they get compromised, which happens after an impact. They also need to be replaced after about five years.
  • There are riding gear features that will improve your ride, but will cost more. For example, there are riding jackets that are made from waterproof or reflective material.
3. Motorcycle Maintenance
Average Cost
  • Owners typically pay around $1,000 a year to maintain their motorcycle.
Factors to Consider
  • Newer motorbikes won’t need as much maintenance. Older models will need repairs sooner.
  • The more often you ride, the more parts replacement and maintenance you’ll need.
  • Proactive maintenance can save you money on future repairs. Staying up-to-date with service department appointments, oil changes, and so on can keep your motorcycle running well and reduce the need to replace parts down the road.
4. Insurance
Average Costs
  • Motorcycle insurance usually costs between $200 and $500 each year.
Relevant Factors
  • The annual cost will depend on the coverage you get. Insurance can protect you in situations of injury, motorcycle damage, theft, and/or property damage.
  • Out-of-pocket expenses for situations such as medical bills can be very high. Paying extra for coverage now can save money in the long run.
5. License and Riding Courses
Average Cost
  • The application fee for a license tends to cost around $30.
  • A beginner’s motorcycle riding course usually costs around $100.
Factors to Consider
  • There are advanced classes you can take down the road to further build your skills. It's another expense to consider, but can help improve your riding quickly.
6. Fuel
Average Cost
  • Riders tend to spend around $300 on fuel a year.
Factors to Consider
  • The more fuel-efficient your motorcycle is, the more you can save on gas.
  • A motorcycle typically has better fuel efficiency than your car. If you take your motorcycle instead of your car, you’ll be saving on gas.
Ready to shop for motorcycles for sale in Salem, Illinois? The expert staff at ATVs and More is ready to help. We can assist you with finding the best motorbike for your budget and lifestyle, so stop by and visit us today. We also proudly serve those in Mount Vernon, Illinois, and St. Louis, Missouri.