Tips for Saving Money for Motorcycle Riders

There is one risk, besides falling off, that effects all riders, regardless of their experience: the cost of owning a bike. When you factor in how much a motorcycle is to buy, then all the gear, the insurance, the gas and the maintenance, you are already risking burning a hole in your pocket. If on that you want to add a new paint job using some high-quality professional motorcycle paint or other mods, it is important to be able to save money where you can.

For example, there are some maintenance and safety checks you can do from home, without the need for a mechanic. The same applies with modifications, some are worth doing and can easily be done by yourself. However, if you don’t feel comfortable or don’t feel skilled enough, there is no shame in visiting a professional. With our tips, we will help you reduce expenses and make it easier on your pocket to own a motorcycle.

1. Shop For Deals

Shopping for deals is as much about getting a good price as it is about getting value for money. A bike may seem to have a great price initially, but there may be hidden faults that end up costing you more in the long run. it is important to not rush and insist on buying a bike.

Experienced riders and serious motorcycle enthusiasts do research, they ask questions, they find out everything they can about the bike before making a decision. The more you know, the better your position is for making informed decisions. It isn’t always about saving money on the purchase, but saving money in the long run, and the more information you have about a bike, the more you can save, both on the purchase of the bike and during its lifetime.

2. Buying Gear

I want to make something clear from the start: gear is an investment. Your helmet, jacket, gloves, etc. are what will be keeping you safe, so it is not worth buying low-quality equipment just to save money. Furthermore, higher quality gear, lasts longer, with some jackets lasting a lifetime, my dad handed me down his leather jacket when I started riding, for example, and it is still going strong.

Yes, it is an investment to buy the right gear, however, there are ways to save a few bucks: shop online. We recommend you go to a store to try on the gear, find out what you like, the right fit and what feels comfortable, then try and find it online. This way you might find a cheaper price for a piece of gear you know will fit and feel comfortable. However, always check the returns policies, just in case.

3. The Right Bike

Choosing the right bike is no easy task. Falling in love with a machine at first sight is great, but what if the ride is not what you are looking for? You need to consider what you will be using the bike for (commuting, personal use, only on dry, clear days, etc.), as this is one of the largest factors when choosing the right bike. There is a huge motorbike market, with machines to suit every need, so write down what you will need out of your ride. Larger engines and more technology are great for touring but cost more, whereas smaller bikes with less technology are awesome for commuting to work and cost a lot less.

4. Maintenance

To prolong the life of your bike and to keep it running smoothly, it is important to stay on top of maintenance. As I mentioned before, there are small maintenance jobs you can do from home to save money (if you feel confident enough in your ability), but some jobs require a professional. Make sure you service your bike regularly and do maintenance checks before and after every ride to avoid larger problems down the line.

5. Gas Smart

For those who ride regularly or on longer journeys, fuel economy is going to play an important part in choosing a bike. However, if you are just looking to improve the fuel consumption of your current ride, here are a few gas-smart tips.

• A maintained constant speed uses less gas.
• Lighten the load. The more weight on your bike, the more gas it will guzzle.
• Accelerate gradually rather than sporadically and rapidly.
• The smoother the road surface, the smoother the ride, and the least amount of fuel used.

6. Insurance

You cannot ride without insurance, that is the law. But just because it is mandatory, doesn’t mean you can’t save money on it. These tips will help you save money on your bike insurance:

• Join a motorcycle association or organization – members will normally get a discount of 10% or more on their insurance.
• Higher deductibles take pressure off the insurer, and therefore offer a lower premium. However, it does mean that you will pay out more in case of an accident.
• Different companies offer different prices according to your age. Riders with older licenses are considered more experienced and responsible, and therefore pay less.
• Ensure the insurance offers you specific coverage for your riding. If you only ride at weekends, the premium should cost less than if you ride daily.
• A clean drivers license also helps towards paying less premium. As does loyalty with some insurance providers.

7. Buying Used

Used bikes are cheaper than brand new, that is a fact. Especially when buying from a private seller, as you cut out dealer fees, setup charges amongst other expenses. Buying used it cheaper because it is second-hand and there are no initial costs. You simply pay the agreed price and ride it away.

However, there is a risk with buying a used bike, especially from a private seller: bike history. There might be an engine fault, or the machine hasn’t ever been serviced, these are things that can cost you money down the line. Before buying used, it is important to do an extensive amount of research. Some dealerships also sell used bikes, and even with the added costs they are cheaper than brand new bikes, with the addition of a warranty, proof of service and other dealership guarantees with might rest your mind and help you save in the long run.