If you’re itching to feel the wind on your face and the sun on your back, but you’re concerned about your wallet, look no further.
In this article, we’ll break down motorcycle costs–starting with the sticker price and wrapping up with insurance, registration, safety gear costs (and more). By the end of this article, you’ll have a rough estimate of how much you’ll have to spend to purchase a motorcycle.
Breaking Down the Sticker Price of Motorcycles
There’s a motorcycle to suit everyone’s taste and budget, whether you’re a regular rider in search of a functional ride or a motorcycle enthusiast yearning for a luxurious bike like a Harley Davidson
From beginner motorcyclists choosing their first bike to experienced riders looking for an upgrade, the sticker price is the first cost of many when it comes to motorcycle ownership.
Here’s a quick list of some popular bikes (and their accompanying starting prices).
- Honda Rebel 300 (Classic Motorcycle for Beginners) – $4,849
- Yamaha YZF-R3 (Flashy Sport Bike for Beginners) – $5,499
- Triumph Bonneville Bobber (Advanced Cruising Motorcycle) – $13,995
- Suzuki GSX-8s (High-Performance Sports Bike) – $8,849
Image Courtesy of powersports.honda.com (Model pictured above: Honda Rebel 300)
Dealer Fees
The sticker price on a motorcycle at a dealer’s lot can sometimes be deceiving. A $4,000 bike could quickly become $5,000 with the addition of dealer paperwork fees, taxes, and miscellaneous costs.
If you’re serious about purchasing a bike from a motorcycle dealer, always try to negotiate the price down as low as possible. But remember: the fees and taxes are often unavoidable.
You can cut out the dealer altogether and build/order bikes directly from the manufacturer’s website. However, these builds often come with destination charges and freight surcharges, which can add up to more than $600.
Impact of Brand
The brand of your desired bike will also impact the overall motorcycle cost. Luxury brands like Indian, Harley Davidson, and Triumph can charge more for their product because of the allure of their branding. But we get it: the thought of riding a real Harley is a dream come true for some.
However, if you’re not super concerned with the brand, and are more interested in overall performance, purchasing budget bikes from Honda, Yamaha, and Suzuki is a smart move.
Used vs. New Motorcycles
Buying a used bike is often better for beginners because it’s not as large of an investment. If it turns out you’re not a big fan of riding motorcycles, you won’t have to deal with the buyer’s remorse of purchasing a $22k bike.
But where can you find these used motorcycles? Some dealerships will sell used bikes, but you can often find golden deals on Facebook Marketplace or sites like Craigslist.
When you buy a used bike, you can dodge dealer fees and freight surcharges; you’ll even pay less taxes when it comes time to register your bike.
While there’s more wiggle room for price (haggle away!), there is the risk that your used bike will have mechanical issues. If you do purchase a second-hand bike from an individual seller, make sure to bring along someone who knows the ins and outs of motorcycle maintenance. That way, you can identify any issues or cosmetic defects before agreeing on a price.
Additional Costs to Consider
You might have just forked over thousands of dollars for your motorcycle–new or used–but you’re not done yet. There are a few other areas that factor into the price of a motorcycle, including:
- Licensing and Registration
- Insurance
- Safety Gear
- Fuel
- Maintenance & Upgrades
License and Riding Courses
Before you even think about purchasing a motorcycle, you first have to procure your motorcycle license. To do so, you’ll need to pass the licensing test. Depending on your skill level, you might have to take riding courses before you’re able to successfully pass the test (both the written test and a driver’s test).
The cost of these courses can range between $50 to $500, depending on the specific course and certification offered. This cost, while substantial, is essential to ensure that you are legally and safely able to operate your motorcycle.
The cost of taking both the written test and a driver’s can vary from state to state. In New York, for example, a Class M or MJ license can cost more than $100. That’s why many people prefer to have Class M added to their existing driver’s license, which can cost as little as $21, depending on your age and area within the state.
Other Fees
When determining the cost of your ride, don’t forget to factor in state-specific laws and regulations. These can include:
- Registration fees
- Safety inspections
- Regional taxes
- Parking permit costs
All of these costs vary significantly by state, as well.
The costs for motorcycle registration, for example, can range from as low as $20 in some states to higher amounts in others. Safety inspections also have a range of costs, from $7.00 in Texas to a range of $6.00 to $27.00 in New York.
If you’re unfamiliar with your state’s motorcycle laws, check out this comprehensive state-by-state guide to motorcycle laws, which includes information on helmets, lane splitting, licensing, and more.
Insurance Insights: Covering Your Ride
With your motorcycle license handy, you’re probably itching to hit the road. But wait, there’s another essential cost to consider – motorcycle insurance. Having sufficient insurance coverage is crucial as it offers financial safeguarding against bike and property damage, personal injuries, and third-party liabilities.
Typically, motorcycle insurance coverage includes:
- Bodily injury liability
- Property damage liability
- Medical payments
- Personal injury
The typical expense for motorcycle insurance in the United States ranges from $120 to $300 annually, subject to variation based on a variety of factors, such as brand, model, and the state you live in.
Required Safety Gear
Regardless of your skill level, owning the required safety gear is part of the motorcycle ownership experience.
Motorcycle riders can expect to pay between $50 to $1500 for a helmet, approximately $250 to $350 for a high-quality motorcycle jacket, and around $75 to $500 for motorcycle boots.
But riding gear is not a one-time purchase. Helmets should be replaced every 3-4 years, and other gear should be replaced after spotting signs of wear or after an accident. The overall cost of replacing safety gear (as recommended) can vary from $800 to $1,500, covering helmets, gloves, jackets, boots, and pants with body armor.
Maintenance Expenses & Upgrades
While a used bike might incur more maintenance costs than a brand-new bike, you’ll still have to budget for routine repair expenses, as well as any upgrades you want to make.
The age and usage of your motorcycle can significantly impact motorcycle maintenance costs. Here are some general guidelines for regular upkeep:
- Oil changes and chain maintenance should be performed every 5,000 miles.
- The annual costs for these routine maintenance tasks can fluctuate between $500 and $1,500, depending on the specific make and model.
- Frequent usage, especially for long-distance travel, can result in higher maintenance expenses.
Performance upgrades, such as aftermarket exhaust systems and power upgrades, typically cost between $100 to $250, while aesthetic enhancements can range from $15 for minor modifications to several hundred dollars for more extensive upgrades.
Fuel Efficiency
The average fuel efficiency of motorcycles typically falls within the range of 35-40 miles per gallon, but certain models, such as sport bikes, may have lower fuel efficiency due to their high-performance engines.
However, there are several models recognized for their exceptional fuel efficiency, such as the 2023 Honda Grom and the Suzuki V-Strom 650, among others. Choosing a fuel-efficient model can save money in the long run, especially if you plan to use your motorcycle for long distances.
Your riding style also plays a part. City driving with frequent stops decreases fuel efficiency, while long, un-stopped stretches of riding help you maximize the MPGs.
Image Courtesy of suzukicycles.com (Model pictured above: Suzuki V-Strom 650)
Storage: The Final Consideration
Now that you understand all the factors that impact the overall cost of a motorcycle, there’s one last hidden cost that you should know about: motorcycle storage.
To protect your investment, you should store your motorcycle in a secure, climate-controlled area to prevent damage from rain, snow, UV rays, vandalism, or theft. For most motorcycle owners, their garage or basement provides ample room for casual or over-winter storage.
However, if you live in the city or don’t have any room in your garage, you might need another storage solution.
A 5’x10’ storage unit or an off-site garage is always an option, and with helpful platforms like Neighbor.com, you can find a local storage unit for an affordable price. Neighbor is a peer-to-peer storage marketplace where each host is vetted for safety and trust, so you can store your motorcycle with an easy mind.
