Some models have higher theft rates, and so will be more expensive to insure. A number of factors come into play when you insure a motorcycle, beyond your driving record and the cost of the bike itself. That may be the case if you are an experienced rider with a spotless driving record, but it does not hold true all of the time.

Insurance – There is a myth that motorcycles are cheaper to insure than cars or trucks.

These costs add up, so it is important to choose a model that fits in with your budget.

Certain models will dictate higher insurance rates, and may need a higher level of maintenance. A good starter bike, say a standard or dual sport model, can run anywhere from $5000 to $12,000 and a custom bike or high ended cruiser can cost as much as $30,000. The Motorcycle – Obviously, the cost of your bike is hardly secondary, but it bears repeating that motorcycle prices can, and do, vary greatly.However, there are a fair number of secondary costs associated with owning and maintaining a motorcycle, and before you take the plunge you should be aware of those costs and how they can effect your bottom line. Most models, barring custom jobs and high end cruisers or touring bikes, do sport a lower sticker price than most cars or trucks. Motorcycles are often seen as an inexpensive alternative to other forms of transportation, and to a large degree they fulfill that promise. A larger down payment also increases your chances of qualifying for financing. The larger your down payment the more manageable your loan. Assign any of your cash assets as a down payment.Keep in mind that motorcycles tend to depreciate in value rather quickly, and most financing options are restricted to 36 to 60 months. Multiply that amount by the number of months you will need to pay off your loan.Remember there will be additional costs to operating and maintaining your motorcycle, and these will also impact the overall cost of your bike. Be sure to allow a healthy safety margin here, so as not to strain your regular household budget. Subtract your expenses from your income to determine how much you can afford to pay per month on your motorcycle loan.Figure out your monthly income after taxes.Use the following steps to help you arrive at a workable budget for your new bike. Before you start shopping for bikes and applying for loans you need to figure out what you can safely afford. While motorcycles are typically less expensive than cars or trucks, they're still a significant investment. Remember, a motorcycle is a major investment that deserves careful consideration before you commit to a purchase. Take a safety course, and talk with other motorcyclists to get a feel for the real day to day operation and upkeep of a bike. Consider the risks and responsibilities of riding, and ask yourself if you are truly up for the challenge.

Before you buy, be sure that it's more than just a passing fancy. While it may seem romantic to don your leather and head out on the highway, riding a bike isn't for everyone. Can you afford the additional costs of ownership and maintainence?Ī motorcycle is a unique form of transportation.Do you really want or need a motorcycle?.Begin by asking yourself a few specific questions. A Short Quiz for Buyersīuying a motorcycle is a major commitment, both personally and financially, and you need to be sure that you understand just what you're getting into before you head out to the dealerships or start making offers on second hand bikes. But there's a lot to consider before you can grab yourself a bit of that motorcycle magic, and you need to think carefully about whether or not you are ready to join the ranks of motorbike enthusiasts.

Whether it's cruising the highways on a Triumph Rocket X or tearing up the trails on a KTM 350 EXC, there's an indescribable magic that only happens when you're seeing the world from the back of a bike. The lure of the open road can be hard to resist, and for many men and women nothing beats the fun and excitement of traveling the world on a finely tuned motorcycle. A Complete Guide to Buying a Motorcycle: Loans and More

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