Checklist for Buying Your First Motorcycle

This guide aims to simplify the process and reduce anxiety. Following these steps will help ensure you're prepared, financially and otherwise, to own your first motorcycle:

Set a purchase budget

In general, motorcycles are less expensive than cars. But, there are huge variations in price. While a basic, entry-level bike like the Yamaha V Star 250 can be under $5,000 brand new, premium or luxury brands can be much more expensive. For example, the BMW R 18 Roctane starts around $20,000, while the price of a Harley Davidson CVO Street Glide tops $45,000. 

When budgeting, consider more than just the sticker price. Other costs to keep in mind before buying a bike for the first time include: 

• Taxes, title and dealership fees
• Safety course dues (a course is often needed to get a license)
• Interest if you're financing the bike with a loan

Decide on buying new or used

As when buying a car, you'll face a choice between purchasing a new or used motorcycle. The pros and cons of each option are much the same for a two-wheeled purchase as with a car. 

That is, used bikes typically cost less due to depreciation, so you should get more bike for your money. The cost of a 2-year-old model can easily be 10% to 20% below that of a comparable new model. 

By buying new, of course, you’ll likely enjoy a broader choice of models and a greater opportunity to tailor the model to your preferences. You’ll also have the peace of mind that comes with a factory warranty, which covers most issues with the vehicle for between one and five years. (If you’re buying a late-model motorcycle used, that warranty may still be in effect, and can be transferred to you as the new owner.) 

Choose between buying privately or from a dealer

As with buying a used car, buying a used motorcycle from a private individual can be less expensive – to the tune of 10% to 20% less. But it may also leave you more vulnerable to unpleasant surprises, assuming the dealer offers a limited warranty on the used bike, as some do. (As with used cars, dealers also offer extended warranties on motorcycles, perhaps at lower rates than you could buy these on your own for a privately purchased bike.) 

Additionally, if you plan to finance the purchase, a dealer may be willing and able to offer better loan terms than you could get yourself.

Understand the insurance cost

Motorcycles are usually less expensive to insure than cars, SUVs or trucks. But, insurance is still a substantial cost. And as with a car, your motorcycle premiums will vary based on your location, age, the model you purchase, driving record and experience, and the types of insurance you buy. 

The good news is that your experience in buying car insurance will serve you well when it comes to insuring your two-wheeler. The components of insurance coverage for a motorcycle are much the same as for a vehicle. You’ll need to decide on the levels of liability coverage along with whether to add extras such as collision and comprehensive protection, roadside assistance, and/or reimbursement for a rental vehicle in the event your bike needs to be repaired in the shop.

Factor in the ongoing costs

Naturally, you'll need to budget for ongoing costs for your bike, beginning with gas. Motorcycles are relatively fuel-efficient compared to cars. Where most cars run between 20 and 30 miles on a gallon of gas, most motorbikes achieve between 40 and 60 miles per gallon, (MPG), with some smaller motorcycles or scooters even reaching 80 MPG or higher.

No matter how much you baby your new bike, it will need maintenance and repairs. From basic oil changes to tires, consider setting aside money each month to cover routine or unexpected repairs. 

Other routine costs to consider include those for tolls and parking fees.

Inspect the bike and take a test ride

Once you have a budget in mind and are sure you can comfortably afford your motorcycle payments, insurance and maintenance costs, you can start shopping for a new (or new to you) motorcycle. When narrowing down your options, consider factors like seat height, your riding style, and whether you plan on using the motorcycle for commuting or only occasional use. 

Whether you're buying a new bike from a dealership or a used motorcycle from a private seller, take a test drive and ensure it feels comfortable to ride, has been well-maintained and handles well. If possible, have a mechanic look over a used bike to flag any issues or repairs it may need. 

Choose protective gear for your ride

No matter how careful you are, accidents happen. Falling off a motorcycle can lead to serious and even fatal injuries, but you can protect yourself and potentially reduce the risk by investing in quality riding gear. 

For fair weather, the Motorcycle Safety Foundation recommends the following motorcycle gear: 

• A Department of Transportation-compliant helmet
• Face shield or goggles to protect against wind and debris
• A vest with reflective strips or tape to enhance visibility
• Full-fingered motorcycle gloves
• Jacket, pants, or riding suit made out of leather or abrasion-resistant fabric
• Over-the-ankle boots with oil-resistant soles
• Hearing protection
• Body armor, spine protectors and kidney belts