Sometimes, you simply crave freedom. The kind of freedom that comes from being outside the confines of a car. Perhaps you've imagined yourself as the owner of a motorcycle, cruising along country roads on two wheels. The sensation of wind against your face and hair can be incredibly exhilarating.
For many people, owning a motorcycle and becoming part of the biker community is a dream come true. However, like any other investment, acquiring a motorcycle starts with understanding its costs and the overall expenses you're likely to encounter.
Motorcycles come in various price ranges, ranging from a few thousand dollars to hundreds of thousands of dollars. If you're a beginner searching for the best entry-level motorcycle, you might want to invest a few thousand dollars in your new ride.
In this guide, we'll explore the costs associated with motorcycles. We'll also delve into the numerous factors that influence their prices and determine whether there are significant differences in cost between various types of motorcycles. Let's get started!
How much is a motorcycle?
How much does a motorcycle cost really? The common price point for each motorcycle depends on whether it’s an entry level model or a high-end motorcycle. Typically, a new motorcycle will set you back $4,000 to $6,000 for an entry level model. For the top of the range models, be ready to cough up to $30,000 for a brand new bike. Most motorcycles are priced anywhere between $4,000 for a standard bike and $30,000 for the very high end luxury models.
You can find some great bikes costing between $6,000 and $15,000, which is typically the median price range of motorcycles. A used motorcycle may be a good option if you are on a budget but still looking for an amazing deal. They cost significantly less than a brand new motorcycle for the same model.
Used motorcycles listed online can sometimes cost about 50% of the original MSRP price, which can be refreshingly awesome. However, there are certain financial caveats to look out for when buying a used bike. We discuss more of that later in this guide.
Besides the financial aspect of owning a motorcycle, you need a motorcycle that fits your skill level and riding style irrespective of the price.
At the end of the day, you want a motorcycle that gives you the thrill and functionality that you crave. That being said, it is important to keep in mind the different motorcycle price ranges and get yourself a motorcycle that you can readily afford and take care of.
Factors that affect motorcycle cost
There’s a lot more that goes into pricing a motorcycle than just the model and type of motorcycle. Many things are considered when coming up with the final motorcycle cost. The value you get should guide you in choosing the best fit motorcycle. Here are a few factors that determine the overall price of a motorcycle:
Engine Size – typically, motorcycles with a larger engine displacement are priced higher than smaller-sized engines. The engine size of a motorcycle, also known as its displacement, is measured in CC (cubic centimeters). It is a critical factor when it comes to price of a motorcycle.
Design and features – there’s no denying the fact that the overall design and styling of a motorcycle affects how much it costs. Motorcycles with an attractive body styling fetch a higher price tag than say, an average standard motorcycle. That’s why sport bikes are usually more expensive than touring bikes because of their attractive body styling. Higher-quality body materials used for styling increase the overall cost of the motorcycle as well.
Horsepower (HP) – A motorcycle’s power output is measured in horsepower, which is essentially the amount of physical force it produces. Motorcycles with higher horses cost more than less powerful motorcycles. Hence, price is directly related to how much horsepower the motorcycle can produce.
Technology – nowadays, advances in technology have made motorcycles smarter, efficient and more intuitive. While all these are good things to have, they also add to the overall cost of a motorcycle. Extra features and upgrades mean extra costs that you are definitely going to have to pay for. Some ground-breaking features and technologies include built-in GPS, anti-lock braking, motorcycle stability control, light controls and so on. The more of these features, the higher the cost of the motorcycle.
Motorcycle brand – there are more than a handful of brands dominate the motorcycle marketplace to the extent of attaining a legendary status. For example, Ducati and Harley-Davidson are arguably the most popular motorcycle brands. They are known for quality and performance. When you buy a Harley Davidson motorcycle, you are not only paying for the motorcycle but also the prestigious brand name.
Year of manufacture – just like cars, the value of motorcycles depreciates over time. Older motorcycles cost less than newer models. Unless it is a rare model that can be considered a collectible. The rare motorcycles may cost higher than your average motorcycle.
Type of motorcycle – the different types of motorcycles have different price tags with some models costing significantly more than other types. For the most part, the cheapest type of motorcycle you can buy is a standard motorcycle. Here, we will give you a few popular models for each type of motorcycle and their price points.
The cost of a standard motorcycle
The cost of a standard motorcycle can vary wildly, but on average you should be looking to spend anywhere between $5,000 and $10,000 if you are looking for a new motorcycle. Standard motorcycles are suitable for riders of all skill levels and are available in a wide range of price points for every budget. In addition, most motorcycle manufacturers have a standard motorcycle model that is cheaper and more readily affordable for the mass market.
So if you are looking for a versatile bike without the funfair of a sport bike, then you might want to consider going for a standard motorcycle within your budget. To get you started, we’ve compiled a list of the average price of standard motorcycles from some popular moto brands below.
Affordable entry-level standard motorcycles include
· KTM 390 Duke ($5,499)
· Honda CBR300R ($4,699)
Mid-level standard motorcycles
· Ducati Monster 696 ($9,295)
· Yamaha MT-07 ($7,699)
· Kawasaki Z650 ($7,649)
· Honda CB650R ($9,199)
Higher end standard motorcycles
· Kawasaki ZH2 ($17,000)
· Ducati Streetfighter V4 ($23,000)
· BMW R1250R ($14,995)
Sport Motorcycle Cost
If you crave extreme speed and power engulfed in a muscular engine, then a sport bike is the best motorcycle for you. A few brands dominate the sport motorcycle space, including renowned Japanese brands such as Honda and Kawasaki. European brands such as BMW and Ducati also command a share of the market with their wide range of sport motorcycle offerings.
Sport motorcycles are typically more expensive due to their powerful engines with gigantic displacements. Besides the entry-level models, a good number of sport motorcycles have a price range of at least $10,000.
Entry level sport motorcycles such as Kawasaki Ninja 400 cost just shy of $5,000 ($4,999), while the Yamaha YZF-R3 will set you back $5,299. Mid-level sport motorcycles such as Yamaha R6 at $12,199, Ducati Super Sport $13,000 and Honda CB600R cost $11,899. If you are more inclined to the high end luxury models, then you will pay up to $29,500 for Kawasaki Ninja H2 and $16,999 for a BMW S1000RR.
Touring Motorcycle Cost
Touring motorcycles have a wide stance big body, with a powerful engine that is tuned for comfortable rides over long distances. You are probably aware of Honda and Harley Davidson as two of the most popular brands when it comes to touring bikes. However, many motorcycle manufacturers have at least one touring model in their lineup, so there are plenty of options to consider. Some popular models you should consider in this category include:
· The Honda Goldwing Tour ($23,900)
· Harley Davidson Road Glide ($21,699)
· BMW K 1600 B Grand America ($26,295)
· Indian Challenger ($27,999)
· Indian Roadmaster ($30,000)
Dual sport/Adventure Motorcycle Cost
If you want a motorcycle that is both comfortable and sporty, then an adventure bike or a dual sport motorcycle is the perfect fit for you. Adventure motorcycles are at home on backroads as well as highways. They are comfortable enough to gobble up miles on your next road trip and take on all kinds of rough terrain. Big names include Suzuki, Yamaha and KTM, who all have great options to choose from at different price points. Some great adventure bikes include:
· Suzuki V-strom ( $8,799)
· Yamaha Super Tenere ($15,100)
· KTM 390 Adventure ($6,199)
· Kawasaki Versys-X 300 ($5,799)
· KTM 790 Adventure R ($13,500)
· Honda Africa Twin CRF1000L ($13,600)
· BMW R1250GS Adventure ($19,945)
· Ducati Multistrada 1260 Enduro ($24,395)
Why you should consider buying a used motorcycle
Like we’ve mentioned earlier, buying a used motorcycle can often save you a lot of money while getting a pretty good deal. Many credible dealerships offer both new and used motorcycles so it is worth checking for new offerings from a dealer near you.
Alternatively, you can buy a used motorcycle from a private seller online. You can find some of the best deals online from numerous groups, forums and classifieds sites. There are generally a lot more options to consider online when looking to buy a used motorcycle. Some special sites are dedicated to selling used motorcycles and often have amazing offers on used bikes so they are worth checking out.
That said, it is important to carry out a thorough background check before investing in a used motorcycle. Make sure you are getting the best deal possible and taking a financially sound decision. Here are a few tips to keep in mind when buying a used motorcycle.
· Determine the value of the motorcycle you are planning to buy. There are numerous resources online that you could use to assess the value of any motorcycle. Read price and value guides for the motorcycle to see if it’s worth pouring your hard earned money on any bike. To begin, check out Kelly Blue Book’s Motorcycle value and pricing calculator here.
· Once you’ve decided which model you want to buy, research the general listing price for the same motorcycle in the second hand market and make price comparisons with KBB’s price suggestion.
· Ensure that the bike has a clear title with original documents attached
· Check if there are any aftermarket parts installed on the motorcycle and whether they affect the value of the bike.
· Avoid red flags before committing to make a purchase. If the deal is too good to be true, it probably is. Exercise caution to avoid getting scammed out of your money.
Paying for your motorcycle
As a general rule of thumb, cash is the safest way to buy a used motorcycle or even a new bike. If you are in a position to pay cash up front, then you will do well to avoid taking out a loan and having to pay interest on the loan.
You don’t want to buy something you can’t afford, which is why you should take the time to do your research on the cheapest motorcycles you can afford. The price of any motorcycle should always be the first consideration and then the overall cost of maintaining that motorcycle.
That said, it doesn’t mean you shouldn’t consider using your credit card or taking out a loan as a financing option. The thing is, you don’t want to buy a motorcycle that’s simply out of your price range.
When it comes to closing the deal on your new motorcycle, ensure you ask all the vital questions that you need to ask. Don’t immediately disclose how you are planning to pay for the motorcycle to the dealer. Start negotiating then reveal to them that you are willing to pay cash once you’ve settled on a fair motorcycle price. If you want to learn more about buying a used motorcycle, please check out our guide.
Other motorcycle expenses to keep in mind
Beyond the excitement of owning your new motorcycle, there are other key expenses that you should keep in mind. These expenses are often overlooked by new overzealous motorcycle buyers but should be accounted for in the overall cost of your motorcycle.
Dealer fees – these are extra expenses that your motorcycle dealer will add to the original sticker price of the motorcycle. They may include document fees for processing documents such as the motorcycle’s title, set up fee for technical services for getting your motorcycle to run, sales tax and destination fee.
Insurance – just like a car, you need a limited liability insurance for your motorcycle. Check some of the best deals you can get on motorcycle insurance policies and go for one that provides enough coverage to suit your needs. Ideally, you want comprehensive coverage for protecting your bike adequately as opposed to a liability coverage which is the bare minimum. Motorcycle insurance rates vary immensely depending on several factors such as your driving record, type of motorcycle, state you live in, location security and age.
Motorcycle protective gear – riding a motorcycle gives you unbridled freedom that you cannot compare with driving a car. However, it also means you are at a higher risk of a fatality since you are more readily exposed to all kinds of road havoc. This is why motorcycle protective gear is non-negotiable and may be required by law before you can ride your motorcycle. Safety gear like a DOT-approved helmet, padded motorcycle jacket, motorcycle riding boots and leather pants are essential gear especially for beginner riders. It is important to learn and acquaint yourself with your state’s motorcycle laws to always be on the right side.
Registration – another cost of motorcycle ownership includes registration, title and tax. These extra costs are used to establish your legal ownership of the motorcycle and to make sure that your two-wheeler is street legal. The fees and procedure vary according to states but in most cases, your state’s DMV will help you with all the required paperwork. The type of tax you pay here is known as a vehicle tax, and is different from the sales tax you pay at the dealership.
Bottom Line: Motorcycle Cost
Wondering how much a motorcycle costs? There’s more to owning a motorcycle than riding it from the dealership. You need to pay attention to your budget and include extra expenses like registration, insurance and motorcycle gear. It is possible to make a smart financial decision as a new buyer if you’ve done your research well enough and know exactly what type of bike you are looking for. At the end of the day, you will walk out with a big smile on your face and massive value with your new purchase. Then you can begin on an exciting journey as a biker and motorcycle enthusiast.
