For most people, the cost of a motorcycle is a major deciding factor when it comes to whether or not they will purchase one. There are a lot of different factors that go into the cost of a motorcycle, including the type of motorcycle, the brand, the size, and so much more.
In this article, we are going to take a look at all of the different factors that go into the cost of a motorcycle so that you can make an informed decision about whether or not a motorcycle is right for you.
The Average Cost of a Motorcycle
The average cost of a motorcycle ranges between $4,000 and $20,000 but in 2022, the average cost is $10,000. However, you can find used motorcycles for as little as a few hundred dollars, and brand new motorcycles can cost up to $60,000 and beyond!
Let’s take a look at how the cost of a motorcycle is affected by some of the more obvious factors but also, you’ll learn of the inconspicuous factors that can play a part in the price tag as well.
What Affects the Cost of a Motorcycle?
There are several factors that impact the cost of a motorcycle. These are some of the things you should take into consideration while shopping around for a bike so you can stay within your budget:
The Type of Motorcycle
One of the biggest factors that will affect the cost of your motorcycle is the type of motorcycle that you choose. There are a range of motorcycles to choose from that will impact the price of your new ride. Some of the most popular bikes to choose from are the standard, sports bike, cruisers, dirt bikes and so forth.
Please note, your decision on the type of bike you want is based on your lifestyle and how you will use the bike.
Another big factor that will affect the cost of your motorcycle is the brand. There are a lot of different motorcycle brands on the market, and each one has its own unique set of features and benefits.
Features and Accessories
The features of the motorcycle are also a big factor that will affect the cost. Motorcycles come with a variety of different features, and each feature has its own set of benefits and drawbacks.
Some of the most popular features of motorcycles include ABS brakes, traction control, cruise control, and heated grips.
The cost of a motorcycle will be affected by the location in which it is purchased. If a motorcycle is purchased in a rural area, it will likely be less expensive than if it is purchased in an urban area. This is due to the fact that there is less demand for motorcycles in rural areas, and therefore dealerships are willing to sell them for less.
Additionally, the cost of a motorcycle will be affected by the availability of dealerships in the area. If there are few dealerships, the cost of a motorcycle will be higher, as there will be less competition among dealers.
The size of the motorcycle is also a big factor that will affect the cost. Motorcycles come in a variety of different sizes, and each size has its own set of benefits and drawbacks. Some of the most popular sizes of motorcycles include full-size motorcycles, mid-size motorcycles, and mini motorcycles.
The engine is another big factor that will affect the cost of the motorcycle. Motorcycles come with a variety of different engine sizes, and each engine size has its own set of benefits and drawbacks. Some of the most popular engine sizes for motorcycles include small engines, medium engines, and large engines.
The transmission is also a big factor that will affect the cost of the motorcycle. Motorcycles come with a variety of different transmission types, and each transmission type has its own set of benefits and drawbacks.
Some of the most popular transmission types for motorcycles include: manual transmissions, automatic transmissions, and CVT transmissions.
Initial Costs When Purchasing A Motorcycle
In addition to the cost of the motorcycle itself, there are also costs for things like insurance, licensing, and registration and a few other factors many don’t realize while they’re shopping around for a motorcycle.
Here is a look at the typical costs associated with owning and operating a motorcycle.
Of course the price of the motorcycle is the most important factor and perhaps, the most expensive–depending on the make and model of the motorcycle and where you purchase it from. Again, the price range for a motorcycle ranges from just hundreds of dollars to tens of thousands of dollars. The average cost of a motorcycle in 2022 is $10,000.
If you're looking for a top-of-the-line motorcycle, you could be looking at a purchase price of $20,000 or more.
Of course, you don't have to buy a new motorcycle. You can find plenty of used motorcycles for sale, often at a fraction of the price of a new motorcycle. However, you'll need to do extensive research if you decide to buy a used motorcycle.
The warranty is also a big factor that will affect the cost of the motorcycle. Motorcycles come with a variety of different warranty options, and each warranty option has its own set of benefits and drawbacks. Some of the most popular warranty options for motorcycles include extended warranties, limited warranties, and no-fault warranties.
The cost of operating a motorcycle will also vary depending on the make, model, and features. However, there are some general estimates for the average cost of things like fuel, maintenance, and repairs.
There are a few things to consider when calculating the cost of motorcycle insurance. The type of bike, the rider's age and driving record, the state where the bike is registered, and the amount of coverage desired all play a role in setting the premium. In general, motorcycle insurance costs less than auto insurance, but the price can still vary significantly from one rider to the next.
For example, a 25-year-old male with a clean driving record who owns a sports bike is going to pay more for insurance than a 55-year-old female with a family sedan. The younger rider is considered a higher risk, and thus will pay a higher premium. The type of bike is also a factor, as a fast, powerful motorcycle is more likely to be involved in an accident than a slow, cruiser-style bike.
The state where the motorcycle is registered is another important consideration, as some states have higher insurance rates than others. New York, for example, is known for its high insurance costs, while states like Colorado typically have more reasonable rates.
Finally, the amount of coverage desired will also affect the cost of the policy. A rider who wants comprehensive and collision coverage is going to pay more than someone who just wants basic liability insurance.
All of these factors must be considered when calculating the cost of motorcycle insurance. Riders should get quotes from several different companies to find the best rate. All and all, you can expect to pay somewhere in the range of $100 to $300 per year for motorcycle insurance.
Maintenance and Repair Costs
The maintenance costs of a motorcycle can vary depending on the make and model of the motorcycle, as well as how often it is ridden. However, some general maintenance costs that may be incurred include:
- Oil changes: Depending on the motorcycle, oil changes may need to be done every few thousand miles.
- Tire changes/repairs: Tires will eventually need to be replaced, and may need to be repaired if they become punctured.
- Chain adjustments/replacements: The chain on a motorcycle will need to be adjusted periodically, and may eventually need to be replaced.
- General tune-ups: A motorcycle will occasionally need a tune-up, which may include changing the spark plugs, fluids, and filters.
Another cost to consider when owning a motorcycle is the cost of fuel. Motorcycles are much more fuel efficient than cars, so you can expect to spend less on fuel than you would if you were driving a car.
The average motorcycle gets about 35 to 40 miles per gallon, so a good rule of thumb is to budget $0.50 to $0.60 per mile driven. This means that a 200-mile trip will cost you between $100 and $120 in fuel. Of course, this cost will vary depending on the price of gas in your area, the efficiency of your motorcycle, and your riding style.
Additional Costs to Consider
There are a few ways that you can obtain your motorcycle license or endorsement. Many states require both a written test and a riding test in order to get your license. The two tests and the printing of your motorcycle license usually cost around $75 total.
Another option is to complete the Motorcycle Safety Foundation Basic RiderCourseSM. This course doubles as the DMV written and/or riding test in some states. The Motorcycle Safety Foundation Basic RiderCourseSM provides personalized instruction through ten hours of riding practice.
Even if you receive your license through the DMV, completing the Basic RiderCourseSM is a wise investment in your motorcycle safety and skills development while learning to ride. The cost for the course is $250-$375, but it is well worth it considering how much more quickly your knowledge and riding skills will progress in a controlled training environment.
There are many different types of protective gear that a motorcycle rider can choose to wear, but the most basic and important riding gear is a helmet, gloves, boots, and a sturdy jacket.
- A helmet is the most important piece of gear for a motorcycle rider, and it is required by law in many states. A good quality helmet can range in price from $100 to $500 or more.
- Gloves are important for protecting your hands from the elements and from injuries in case of a fall. A good pair of motorcycle gloves can cost around $50.
- Boots are important for protecting your feet and ankles from injuries. A good pair of motorcycle boots can cost around $100.
- A jacket is important for protecting your body from the elements and from injuries in case of a fall. A good quality motorcycle jacket can cost around $200.
Purchasing riding gear is of the utmost importance because your safety comes first and is priceless. On average, you can expect to pay:
- Gear: $330–$1,000
- License/Safety Course: $75–$375
- Motorcycle: $2,000–$10,000
- Insurance: $35–$250
- Maintenance: $500–$1,000
Final Average Cost Estimate: $2,940 - $12,625
How to Save Money on a Motorcycle
If you are looking to save money on a motorcycle, here are a few things that you can do:
- One option is to purchase a used motorcycle. You can often find used motorcycles for a fraction of the cost of a new one.
- Another option is to purchase a motorcycle that is not a brand name. In general, brand name motorcycles cost more than non-brand name motorcycles.
- Finally, you can also save money by being flexible with the features and accessories that you want. For example, you may be able to find a motorcycle that doesn’t have all of the bells and whistles that you want, but it will be significantly cheaper.
As you can see, there are a lot of different factors that go into the cost of a motorcycle. In this article, we have looked at some of the most important factors that you need to consider when you are trying to determine the cost of a motorcycle. We hope that this information has been helpful to you and that you will use it to make an informed decision about whether or not a motorcycle is right for you.
If you are an experienced rider, what else would you add to this list? We’d love to hear from you!
Note: RumbleOn is an Amazon Affiliate, dedicated to reviewing the best and safest gear and more, for riders everywhere. We may receive commissions if products are purchased from them.Sell your motorcycle for cash - cash offer in minutes