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The Full Cost of Buying a Motorcycle

Apr. 7 2021 Buying Guide By Ol' Red's Motorcycles

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When you buy a motorcycle, you have a lot of thrilling adventures to look forward to. But it’s important to know the full cost of buying a motorcycle before you get yours. Read on to learn more about the cost of owning a bike. When you’re ready to see some bikes for sale, contact Ol’ Red’s Motorcycles in Simpsonville, South Carolina. We are proud to serve Greenville and Columbia, South Carolina and Charlotte, North Carolina too!

The Motorcycle

Average Costs

  • Beginner riders should expect to spend between $5,000 and $10,000 for a new motorcycle.
  • New bikes for advanced riders usually fall between $10,000 and $35,000.

Factors to Consider

  • The more features you get, the higher the price will be.
  • Buying a used bike is a good way to save money.
  • Another way to cut costs is to buy during the off-season when dealerships see a dip in sales and often offer deals to entice customers to buy.

The Gear

Average Costs

  • Helmets can cost anywhere from $70 to more than $300.
  • Total gear tends to be around $1,300.

Factors to Consider

  • Helmets need to be crash-tested and fit well in order to offer the necessary protection.
  • Helmets should be replaced if they are compromised or if they are too old.
  • Other riding gear includes riding pants, a riding jacket, boots, and gloves.
  • Extra accessories like waterproof or reflective materials will increase the price.

Maintenance

Average Costs

  • Maintenance tends to cost around $1,000 a year.

Factors to Consider

  • Newer motorcycles won’t need as much upkeep as used models.
  • Maintenance fees are impacted by how much you ride. The more often you ride, the more often you’ll need to replace the tires.
  • If you want an estimate on maintenance costs, think about the average lifespan of parts like tires and lights as well as the price of replacement parts.

Insurance

Average Costs

  • Insurance usually falls between $200 and $500 per year depending on your coverage.

Factors to Consider

  • Depending on your coverage, your insurance may protect you in cases of injury, motorcycle damage, theft, and property damage.
  • Unexpected fees like medical bills can be expensive. Getting plenty of coverage will help you save money in the long run.

These are just a few of the main costs associated with owning a motorcycle. If you want any more information or you’re ready to see some bikes for sale, give us a call today at Ol’ Red’s Motorcycles! We are located in Simpsonville, South Carolina and we can’t wait to help assist you. From Greenville and Columbia, South Carolina to Charlotte, North Carolina, we’re here to help you find the perfect motorcycle for all of your adventures on the road!