Saving on a motorcycle

Saving on a motorcycle

Commuting for me always seems to always cost more than I’d like it to. Whether it’s the gas I put in my car, the maintenance to keep it running, or if you have to pay for parking, getting to and from work can be expensive. If you’ve been looking for a way to cut the costs of commuting and getting around, then perhaps a motorcycle or moped has crossed your mind. As much as I’d like to ride one, Mrs. Money has forbidden me from driving a motorcycle. Typically, motorcycles/mopeds are must cheaper to own and operate compared to a car, but that doesn’t necessarily make them cheap. If you’re looking to make some room in your budget, then switching to a motorcycle or even cutting costs on your current bike could make sense!

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Choose a better bike

If you’re in the market for a new motorcycle, then thinking twice about your choice and how you prioritize which bike you buy is the best place to start. Start by ensuring that your thinking of the whole life costs of the bike, not just the immediate cost. Going with a bike with a smaller engine is good for beginners since they’re safer as well as cheaper. The cost of paying off the finance plan month by month is going to be lower. Take into account the fuel economy of the different bikes in your price range, as well. Just as important as cost is finding the most reliable motorcycles. You definitely get what you pay for in life, and just because it’s cheap doesn’t mean it’ll last. The more reliable, in general your motorcycle is, the less you’re going to pay in repairs and replacements over time, though those costs do add up eventually. Nothing lasts forever.

Be in a better position to buy

If you’re buying from a dealership, then make sure you’re timing the purchase right. Fewer motorcycles are sold in the winter, so prices can drop them. Otherwise, wait till the end of the year or quarter for when sales reps are itching to meet their targets and often willing to slash prices. Remember that buying from a dealer is typically a negotiation, with room for discounts. Otherwise, the best way to control your costs is to improve your credit score, as shown at bankrate.com. The higher your score, the more flexibility you have with financing deals and the less interest you can expect to pay off. If you’re not paying cash, definitely shop around for loans instead of sticking with whatever the dealership offers, as well.

Be fuel economical

By switching from a car to a bike, of course you’re expecting to save on gas, so make sure your bike is as fuel economical as it can be. There are plenty of ways to cut the costs of fuel that your motorcycle eats up. Naturally, the first and most common tip is to ride less and walk more often. A ten-minute walk might take a little more time and physical effort, but it saves you from a pointless bike ride. Howstuffworks.com offers lots of ways to improve the gas mileage of your motorcycle. Accelerating and braking more gently, taking highways and flat stretches of road when possible, and keeping your bike as light as possible are all ways to improve your gas usage. As the most frequently recurring motorcycle cost of all, you can save a lot of money over a long time by implementing just a few of these habits.

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Cut the length of your journeys (safely)

Riding your motorcycle less saves on costs in a variety of ways. It means lower fuel costs, as we’ve already discussed. It also means less wear and tear to the motorcycle. As such, the vehicle depreciates less with fewer miles on it. It also isn’t likely to need repairs or replacements as soon as it might otherwise. One way to cut the length of your journeys, and slow the growing costs of the bike, is to use lane-splitting where possible. This means riding your bike between traffic lanes or on shoulders when facing congestion. Although I’m always freaked out when I see motorcycles doing this, it is more efficient. Landlinemag.com details which states this is currently legal in. This maneuver should be practiced with the utmost care but, if you can do it safely, it’s good for everyone on the road. It helps you get to your destination sooner, but it also does its part to unclog congestion.

Maintain as best as you can

The more hands-on you get with your maintenance, and the most you do to ensure your bike is in the best condition as possible, the fewer repairs you will have to pay for in future. Naturally, keeping up to date with the logbook is essential, as failing to do so will reduce the value of your motorcycle considerably. If you’re looking at replacement parts, consider finding your own suppliers, like solomotoparts.com instead of relying on your garage who may be liable to mark up the costs of parts. The more you learn to take care of your own motorcycle, the cheaper it becomes to keep it in the best possible condition.

Stay on top of its repair needs

Of course, no matter how much you take the DIY approach when it comes to bike maintenance, you’re going to need a professional on hand every now and then. Sometimes you’re going to need for a major repair. However, if you don’t have the cash ready at the time, you might end up having to pay more by taking on a financing deal with interest added to your monthly payments. The best way to avoid that is to better control your finances with a budget. Estimate how much you’re likely to spend on repairs each year, and budget your savings towards building up a repair fund that covers at least that amount.

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Keep your bike safe

Fewer things are more expensive than having to buy a new bike after your older one has been stolen. As carolenash.com shows, motorcycle security is essential if you want to avoid that expense. First of all, finding discrete places to park your bike is always wise, so it’s less likely to be noticed by potential thieves. Locking it down isn’t necessarily failure-proof, but it is a good deterrent. If you own a motorcycle, then you should invest in a GPS tracker that can help you and the police quickly find it If it’s stolen, as well. Making sure that they’re well hidden on the bike is key, too.

Just bear in mind that cutting the costs of motorcycle ownership doesn’t mean being stingy to the point of irresponsibility. You still need to invest in safety gear, to invest in maintenance and servicing. Hopefully, the tips above help you find the room you need in your budget, so you don’t skimp on what truly matters.

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