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December 01, 2011

Leasing or Buying a Motorcycle: Which is Right for You?

Leasing or Buying a Motorcycle: Which is Right for You?

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.