Checklist for Buying Your First Motorcycle

If you're wondering how to buy a motorcycle for the first-time, this checklist can help you compare options, plan your budget and feel more prepared before you buy. Following these steps can help ensure you're ready, 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 (Disclaimer: Prices are examples and vary by model year, features, location and dealer).

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 motorcycle license)
• Interest if you're financing the bike with a loan
• Protective gear such as a helmet, jacket, gloves and boots
• Insurance premiums and deductibles

Quick takeaway: A lower purchase price doesn't always mean a lower total cost. When buying a motorcycle for the first time, look at the full ownership picture – including insurance, gear, maintenance and registration.

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 could 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.)

If you're deciding what to look for when buying a motorcycle, one of the first questions is whether you value lower up-front cost or newer features and warranty protection.

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.

Private sales may save money, but a dealer may offer more support with financing, title transfer and limited warranties. For many first-time riders, that added guidance can be helpful.

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.

Before you buy, get a motorcycle insurance quote:

• Rates vary by bike model, engine size and your riding experience

• Liability coverage is required in most states

• Consider collision, comprehensive and roadside assistance for full protection

Before you buy, it can help to compare a few coverage options and understand what a motorcycle insurance policy may include. You can also explore what motorcycle insurance typically covers if you want a clearer picture of common protections and optional add-ons.

Factor in the ongoing costs

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.

Every motorcycle needs routine maintenance and repairs over time. 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.

If you're researching what to look for when buying a motorcycle, focus on comfort, condition, title status and whether the bike matches your experience level. A powerful motorcycle can be appealing, but a manageable bike is often the better choice for a first-time rider.

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

Complete the paperwork and legal steps

When purchasing a used motorcycle, the seller will transfer the title to you. Make sure the title is clean, meaning that it isn't a salvage title and there isn't a lien against it. Get a bill of sale from the seller, even if it's a close friend, and register the vehicle with your state department of motor vehicles.

In most states, you'll need to complete a rider safety course before a motorcycle endorsement can be added to your driver's license (a necessary requirement to legally ride your motorcycle). Check with your state's transportation department for specific requirements in your area. Classes typically cost $100 to $400.

You might consider taking additional safety courses beyond those required to earn your motorcycle license. In addition to their safety benefits, such courses may earn you discounts on your insurance. Check with your insurer about courses they reward with cuts in premiums.