The Cost of Owning a Motorcycle

While motorcycles are more affordable than cars, they can still be pretty pricey purchases. If you’re interested in buying a new motorcycle, it’s important to consider more than just the initial price tag in your decision. To learn how much a motorcycle may actually cost in both the short and long-term be sure to read our informative article below. 

Initial Costs 

The most obvious initial cost you’ll need to account for when purchasing a motorcycle is the bike itself. While affordable, these vehicles tend to range in price wildly, with some models coming in as low as $5,000 while others are as high as $35,000. If you’re completely new to motorcycle ownership, you may also need to purchase a number of riding accessories for your bike, as well as a license. It typically costs around $1,300 to purchase all of the required gear at one time, and $150 for the license and instructional courses. 

Monthly Expenses

Monthly expenses for motorcycle owners really only include fuel costs and monthly insurance payments—both of which are considered pretty affordable when compared to car prices. On average, your monthly insurance payments should come in under $200 while your gas costs can come in as low as $40 a month. Maintenance will also need to be considered in your monthly motorcycle budget, although you may go quite a long time between services or repairs, and will cost about $1,000 a year for most owners. 

Having trouble finding a motorcycle that fits your budget? Then stop by our location here in Monee, IL to take advantage of our amazing financing services and impressive selection of used motorcycles for sale. We proudly serve the nearby areas of Kankakee County and Chicago, IL, and look forward to seeing you here soon at Gina’s Motorsports of Monee!