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Motorcycles can range significantly in price depending on various factors, such as the type of bike, the engine size, and additional features.
On average, the cost of a motorcycle can range from a few thousand dollars for entry-level models to tens of thousands of dollars for high-performance or custom bikes.
In the article, we’re discussing the average cost of a motorcycle, additional costs associated with owning a motorcycle, popular motorcycle types and price ranges, and more.
- The cost of a motorcycle can vary depending on several factors such as the type of bike, engine size, and additional features, with the average cost being $10,000.
- Other costs to consider include sales tax, insurance rates, motorcycle license, maintenance, repairs, fuel, and safety gear expenses.
- Popular motorcycle types include standard bikes, cruiser motorcycles, sports motorcycles, and touring motorcycles.
- To qualify for motorcycle financing, lenders will look at your credit score and debt-to-income ratio.
What Is the Average Cost of a Motorcycle?
The average cost of a motorcycle is $10,000, with an average range of $4,000 - $20,000. Of course, you can get a used motorcycle for much less, and a custom, high-end motorcycle for much more.
Are Motorcycles Cheaper Than Cars?
Motorcycles tend to be cheaper than cars. This is because motorcycles are usually smaller and require less material to build, as well as fewer parts. Additionally, motorcycles are more fuel-efficient than cars and may be exempt from certain taxes in some states.
Other Costs Associated with Owning a Motorcycle
In addition to the average cost of a motorcycle, there are several other expenses that come with owning and operating a motorcycle. Here is a breakdown of these costs:
1. Motorcycle License Cost: The cost of obtaining a motorcycle license varies by state and can range from $15 to $50. This includes the cost of the application fee and any required tests.
2. Motorcycle Registration Cost: Registering your motorcycle varies by state as well, but you can expect to pay anywhere from $15 to $100. This includes the registration fee and any necessary taxes.
3. Motorcycle Shipping Cost: If you need to transport your motorcycle, the cost can range from $300 to $700 depending on the distance and shipping method.
4. Motorcycle Wrapping Cost: Adding a custom wrap to your motorcycle can range from $500 to $2,000 depending on the complexity of the design and the size of the bike.
5. Motorcycle Helmet Cost: A good quality motorcycle helmet typically costs between $100 and $600, depending on the brand and features like ventilation and additional safety certifications.
6. Motorcycle Tires Cost: Motorcycle tires need to be replaced periodically, and the cost can range from $100 to $400 per tire, depending on the type and brand.
7. Motorcycle Insurance Cost: The cost of motorcycle insurance varies greatly depending on factors such as the type of bike, your riding experience, and your location. On average, motorcycle insurance can cost anywhere from $300 to $1,500 per year.
8. Motorcycle Fuel Cost: The cost of fuel depends on the size and efficiency of your motorcycle's engine, as well as local fuel prices and how often you ride. On average, motorcycle fuel costs can range from $5 to $20 per week for regular commuting.
|Motorcycle tires||$100-$400 per tire|
|Motorcycle insurance||$300-$1,500 per year|
|Motorcycle fuel||$5-$20 per week|
Popular Motorcycle Types and Price Ranges
When it comes to motorcycles, there are various popular types to choose from, each catering to different riding styles and preferences. Here are some of the most common motorcycle types and their typical price ranges:
Cost of a 3 Wheel Motorcycle
A 3 wheel motorcycle, also known as a trike, is a three-wheeled vehicle that provides stability and easier handling. These motorcycles typically range in price from $10,000 to $30,000, depending on the brand, model, and features.
Cost of a Standard/Street Motorcycle
A standard or street motorcycle is a versatile and all-purpose bike known for its comfortable riding position. Prices for these motorcycles can range from $5,000 for entry-level models to $20,000 or more for higher-end bikes with advanced features.
Cost of a Cruiser Motorcycle
Cruiser motorcycles are synonymous with style and laid-back cruising. These bikes often have a low seat height and a more relaxed riding position. Prices for cruiser motorcycles typically range from $8,000 to $25,000, depending on the brand, size, and added accessories.
Cost of a Sports Motorcycle
Sports motorcycles are designed for speed, agility, and performance. These bikes often feature powerful engines and aerodynamic designs. Prices for sports motorcycles can vary greatly, ranging from $8,000 for entry-level models to well over $30,000 for high-performance and track-ready bikes.
Cost of a Touring Motorcycle
Touring motorcycles are designed for long-distance travel and comfort. These bikes usually come equipped with features like large fuel tanks, storage compartments, and a more upright riding position. Prices for touring motorcycles typically range from $15,000 to $30,000, depending on the brand and additional features.
Cost of an Adventure/Dual Sport Motorcycle
Adventure motorcycles are designed for both on-road and off-road riding, offering versatility and capability. These bikes often have higher suspension travel, rugged build, and added features for off-road exploration. Prices for adventure motorcycles can range from $8,000 for entry-level models to over $20,000 for more advanced and fully-equipped bikes.
Motorcycle Market Value by Manufacturer
The market value of motorcycles can vary significantly depending on the manufacturer. Some of the most popular brands in the motorcycle industry include Harley Davidson, BMW, and Ducati, and each of them offers a wide range of models at different price points.
Harley Davidson motorcycles are known for their iconic style and reputation. The average cost of a Harley Davidson motorcycle can range from around $6,000 for entry-level models to over $40,000 for high-end bikes with additional features and customizations.
BMW motorcycles are synonymous with German engineering and precision. The average cost of a BMW motorcycle can range from $10,000 for a beginner-friendly model to upwards of $30,000 for more powerful and advanced bikes.
Ducati motorcycles are renowned for their performance and Italian craftsmanship. The average cost of a Ducati motorcycle can range from around $8,000 for entry-level models to well over $20,000 for high-performance and premium motorcycles.
It's important to note that these are just average price ranges, and the specific cost of a motorcycle will depend on factors such as model, engine size, features, and any additional customizations. Buying a new motorcycle versus a used motorcycle will also affect the price.
Aside from these brands, Honda motorcycles are also popular in the market. The cost of a Honda motorcycle can range from around $2,500 for smaller, entry-level bikes to over $30,000 for their high-performance models.
Motorcycle Cost Examples by Manufacturer
Pricing on Used Motorcycles vs. New Ones
When it comes to pricing, there are significant differences between used motorcycles and new ones. Opting for a used motorcycle can offer substantial cost savings compared to purchasing a new one.
New motorcycles can depreciate quickly, with some models losing up to 27% of their value within the first couple of years. This depreciation factor makes used motorcycles a much cheaper option, particularly for budget-conscious buyers.
How Much Does a Used Motorcycle Cost?
For those looking for used motorcycles, the cost can vary depending on factors such as the brand, model, year, and condition. Generally, used motorcycles can be found at a fraction of the price of new ones. Buyers can often find great deals and bargains on the used market, such as Autotrader, allowing them to get more bang for their buck.
How Expensive Is a New Motorcycle?
A new motorcycle is typically higher due to factors such as manufacturing costs and dealer markups. However, purchasing a new motorcycle comes with the advantage of getting the latest features, warranty, and the peace of mind that comes with owning a brand-new vehicle.
Depending on the manufacturer, new motorcycles can get very expensive, with some costing upwards of $40,000 or more.
When it comes to financing new or used motorcycles, your credit score and debt-to-income ratio will come into play. The higher your credit score and lower your debt-to-income ratio, the better rate you’ll receive. You can get a motorcycle loan at a bank, credit union, or through an online lender. Online lenders typically have less stringent qualification requirements, making them an ideal choice for those with less-than-perfect credit scores.
Final Word: Understanding the Costs of Owning a Motorcycle
How much does a motorcycle cost? Well, the price of a motorcycle can vary greatly depending on a variety of factors. From brand to model, year to condition, the cost of owning a motorcycle can be as unique as the rider themselves.
Ready to hit the road? Explore our wide range of motorcycle loans and find the perfect ride for your next adventure. Don't let the cost of a motorcycle hold you back from experiencing the thrill of two wheels. Start your journey today!