If you’re in the market for a new motorcycle, deciding how to pay for it can be difficult. It’s important to consider your goals and lifestyle before leasing or buying a motorcycle.
Buying a motorcycle
If you plan to keep your bike for several years and would like to customize it, then buying may be the right option for you.
Advantages of buying a motorcycle
Full ownership – After paying off your motorcycle loan, you’ll no longer be responsible for monthly payments - just gas, insurance, license and registration fees, and repair and maintenance costs. Since the bike is yours, you can customize it or resell it as you wish.
No mileage fees – There will be no limit on the amount of miles traveled per year. That means more road trips with your new bike.
Disadvantages of buying a motorcycle
Higher upfront cost –You’ll be responsible for a down payment, license, registration and dealership fees, and taxes.
Higher monthly payments - When buying a motorcycle, you’re paying for the entire cost of the bike, which means higher payments per month.
Post-warranty repairs – Since most buyers keep their bike past its warranty expiration, you’ll have to pay for future repairs out-of-pocket. Find all tips here.