Moneybarn
How to budget for a new motorbike
By Chris Sykes, National Sales Manager
Buying a new motorcycle is an exciting experience and it can be tempting to buy the first bike to catch your eye. However, there are lots of important factors you should consider before you buy.
To help you make the right decision, Moneybarn has put together its top tips on budgeting for a new motorbike, so you get the best possible vehicle for you.
Decisions, decisions
If you know what type of riding you plan on doing—track days, commuting, touring, or just cruising around town—you can usually narrow your options before even hitting the shops.
The first question is what size bike you should buy. Remember if you’re just starting out a big Harley or a powerful sports bike is probably not the safest choice.
You could start with a 250cc bike; this will definitely be the easiest to learn on, but you’ll probably outgrow it within a few months. Something in the 500-600cc range, on the other hand, will probably stay fun for a long time, even as your skills improve.
Engine size isn’t the only factor, either: Some 600cc vehicles can perform like a race bike capable of serious acceleration and high top speeds. Again, this is probably not the best choice for beginners.
Expenses to watch out for
Once you’ve decided upon your most appropriate vehicle, you’ll need to calculate the additional expenses associated with riding. For example, it’s a good idea to check the current insurance rates, as this is one of the biggest costs of owning any kind of vehicle.
Going for a high-performance motorcycle might seem like fun but it will be much more expensive to insure (and buy!) a top-end bike.
Safety gear is something else you need to budget for. Protective boots, gloves, trousers, a jacket and importantly a crash helmet are the basics to start you off. This amount of good quality gear can add up to a substantial amount of money.