Are you thinking about purchasing a new motorcycle? Have you discussed a budget? Should you buy as much as you can afford, or should you get a used motorcycle to save money?
Keep the following tips in mind when you’re saving up for your upcoming motorcycle purchase.
When purchasing a motorcycle, you’ll want to think about safety first. Many times, new motorcycle owners will forget about all of the safety gear that will need to be purchased outside of the motorcycle cost itself. Helmets, gloves, boots and a jacket can range to as much as $600—sometimes more. Start purchasing your gear now, so you can have more money to put toward the motorcycle itself down the road.
Particularly when considering a used motorcycle, make sure that you adequately inspect the mechanics before taking the plunge on a purchase. Look for matching tires that are less than five years old. Tires are very important—if you are looking at used vehicles, you should plan to spend as much as an extra $300 on new tires.
Brake pads are another area you may need to budget for. If the bike is three years old or older, plan on replacing the pads and fluids. Chains and sprockets are also a key mechanical consideration, particularly with used motorcycles—these could cost as much as $300, all told.
If you’re handy with a toolbox and aren’t afraid to do a little maintenance yourself, a used option might be ideal. This is particularly true if you can handle some of the high-cost labor and upkeep in your own garage. If you can repair your rubber parts, fuel line, brake line, fork seals and intake manifolds, you’ll save some cash in the long run. Just keep in mind that the older the motorcycle, the more sensitive it is to the ethanol in modern gasoline, may cause fueling problems.
If handiness with a mechanics toolset isn’t your forte, consider a newer motorcycle, even if it’s smaller than you’d originally anticipated. A smaller investment now might mean you can sell and upgrade in a couple of years when you’re more flush, financially speaking.
While buying used will have plentiful benefits, especially if you have experience with motorcycles and their mechanics, there are some key benefits to buying a new bike: