I Didn’t Know That! - Are There Hidden Costs to Owning a Motorcycle?

If you have been considering buying a motorcycle of your own, you have probably done some preliminary shopping to see what is available right now. You may have looked at local dealerships, checked out some online sites or perhaps even looked to see who may be selling a used bike that you could buy. Many people, when buying a bike for the first time, do not think much beyond the initial cost of the bike itself as what you are going to have to lay out.

It is good for you to know that there are costs that go beyond simply the sticker price of the motorcycle that you see. You will find that there are some hidden costs to owning a motorcycle that you should be aware of and prepared for, such as:

Insurance – You may not think about your insurance costs until you actually go to purchase your motorcycle. At that point you will realize that you need to have proper insurance for your bike to protect you in the case of an accident or theft. Insurance costs for a motorcycle can be quite high because insurance companies see a higher risk involved in riding a motorcycle, so you need to be prepared for the premium costs.

Registration – Whenever you buy any type of vehicle you are going to need to register it properly so you can get the right license plates for it. Motorcycles are no different and each state has their own regulations and costs associated with registering your motorcycle. You will have to pay this cost annually or ever two years, depending on where you live, but it is a cost you need to consider.

Customization – If you are buying a used bike or even a new one, you may already be thinking about how the bike is going to look once you own it. Of course, in order for any of that to happen you are going to have to pay to get the accessories or customization that you want done. It may be something as simple as replacing the grips and pegs or adding saddlebags or it can be more detailed like getting customized exhaust pipes or particular decals. Whatever you decide, you want to make sure you budget properly and figure them into the total cost of your investment.

Maintenance – Whether you buy a new motorcycle or a used one there is going to be maintenance that you have to do to keep the bike in perfect running condition. This means regular oil changes, changing fluids, filters, tires and other repairs that may come along over the course of driving.

Any time that you own a vehicle like a motorcycle or car you have to consider the “extra” costs that are going to be involved as part of ownership. Once you have figured out exactly what all of this is going to cost you upfront, each month or each year, you can then budget everything correctly so you can make sure everything gets paid for.