Many people look for advice on how to best save money on their car, but maybe the better question to ask is “should I have a car at all?” Now, we’re not putting it forth that you should start walking everywhere or get public transport, but we are suggesting that you take a look at motorcycles, which can be a cheaper way to get from A to B.
Below, we’ll run through some of the savings you can make, as well as some of the other factors you’ll have to think about.
Cheaper Initial Costs
If you want to have an idea of just how much you can save by getting a motorcycle, just look at the initial savings. You can buy a new motorbike for cheaper than a used car, for starters, and when you get into the used motorcycle market you’ll find that you can get decent bikes for the cost that you could only by a subpar car for. This makes it especially attractive for current car owners who want to raise some money quickly. Why not sell your car, and replace it with a much cheaper motorbike?
The initial cost of a car is hefty, but once it’s been paid you think you can look forward to driving around in peace. Not so, with gas prices rising all the time, many people find that they’re spending a fair amount of money just on fuel to get to and from work. When you have a motorbike, you’ll still have to spend a percentage of your income on fuel, but it’ll much less when compared to a car. That’s because they get much better MPG (miles per gallon). You might find that you’re only filling up once a week or less, whereas you used to fill up twice a week!
Where Costs Rise
Of course, it’s not all plain sailing when it comes to owning a motorcycle and your finances. There are areas where costs rise. For example, you’ll likely need to buy extras – such as storage – that doesn’t come as standard on bikes. For all their high costs, cars are remarkably well equipped; anything you add to them is because you wanted to, not because they were needed. You will also have to factor in the increased danger. Injuries from motorcycle accidents are more common than injuries from car accidents, and that means riders are more likely to have to pay for hospital visits and so on. So it’s not all savings when you make the switch.
A motorcycle is a complicated piece of kit, but it’s nowhere near as complex as a car. As such, they break down less. The other thing about owning a bike is that you usually become pretty invested, so you get to know how things work. With time, the maintenance and repairs that you need to do, you’ll be able to do yourself.
Finally, don’t forget all the time you save to and from work. No traffic for you!