The real costs of owning a motorcycle

Bikes are not only brilliant fun, they’re also an affordable mode of transport. Still, ‘cozzie livs’ (i.e. the cost of living crisis) is a thing and you might be concerned by exactly how much an adventure into motorcycle ownership will set you back.

There are two types of costs to consider with motorcycle ownership – immediate and ongoing. Immediate costs come at the start and cover items such as the purchase of the bike itself, licence and registration, insurance and riding gear. Ongoing costs recur throughout the ownership period and include fuel, tyres, maintenance and repairs, and accessories.

The most significant cost of motorcycle ownership is the bike’s purchase price, and this can vary widely depending on factors such as the brand, model, capacity, age and style of motorcycle. There’s an option for every wallet, but a 125cc commuter bike is always going to be less expensive than a Ducati Panigale sportsbike, in both immediate and ongoing costs. Individual budget, licensing and skill levels, and personal preference will determine what’s right for you. Want to research what new and used models are currently going for in your area? Our classifieds right here at bikesales are a great place to start!

Where new bikes have manufacturer warranties, used bikes often come without any buyer protection. Generally purchasing second-hand is initially cheaper, but can throw up nasty cost surprises down the track if things go wrong.

Other important considerations are finance costs and resale value. Take out a loan for that dream machine and you’ll pay more in the long term for the privilege of using someone else’s money. And buying a less desirable model may mean a bigger loss when it comes time to sell. Want an idea of resale value and specifications for used motorcycles? Head to bikesales sister site RedBook – it’s a great tool for researching new and used models.

A basic kit of decent quality riding gear is essential for safety and comfort, no matter which bike you choose. It can also be a significant expense. At the very least, you’ll need a helmet (from $100 to $1200), jacket ($150-$1000), gloves ($25-$500) and boots ($100-$800). When starting from scratch, it can add up quickly – check out this article on all the essentials you’ll need for riding a motorcycle on the road.

The initial purchase price may be steeper, but higher quality gear will generally last longer, which can save money over the long run. Some gear can also be repaired (such as re-soling a pair of boots), further extending the lifespan for a lower cost.

Accessories can enhance the motorcycling experience but also add to the expense. These could include saddlebags or hard luggage for touring capability, heated grips or a plusher seat for comfort, or an aftermarket exhaust for more power and a more characterful note.

Roadgoing motorcycles are subject to registration fees and charges imposed by state governments. These costs will vary depending on the capacity and type of bike, and your location. Some states also require annual vehicle inspections for registration renewal.

You’ll also need a motorcycle licence. In most states and territories this entails compulsory pre-licence training and a knowledge test to obtain a learner’s permit, then further testing for a motorcycle licence – all with fees attached, and then ongoing periodic renewal fees.

Insurance will be both an immediate and ongoing cost of motorcycle ownership. It should also be considered essential – you’re likely sinking a few grand at least into buying a motorcycle, so it makes sense to protect that investment from theft or accidental damage.

The cost of insurance depends on various factors, including the rider’s age, driving and claim record, location, type and value of motorcycle, and level of coverage. A comprehensive policy will cost you more and gives the highest level of coverage, including for damage to your motorcycle if you’re at fault, while third-party property insurance costs less but only covers you for damage inflicted on other vehicles in an accident. The latter is often bundled with additional fire and theft cover.

Compulsory third-party (CTP) insurance is another component often packaged into registration costs – it predominantly protects motorists from liability in the event of an accident that causes the death or injury of others, including other motorists, passengers, pedestrians or cyclists. This sort of insurance varies from state to state and goes under different names, such as the New South Wales Green Slip scheme or Victoria’s TAC (Transport Accident Commission) levy.

Regular maintenance is important for keeping a motorcycle running smoothly and safely. This includes routine servicing such as oil changes, air filter renewals, brake pad replacement, batteries, valve adjustment and other essential jobs.

Many basic maintenance tasks (for example, chain lubing and tensioning) are well within the scope of a capable owner. If you’re new to bikes, it’s worth learning to do this stuff – you’ll not only save money, but also get to know your machine better.

Motorcycles require regular servicing to keep them running at their best and to ensure they’re safe and the costs can add up, especially for high-performance or specialised bikes. The average mechanic charges about $100-$120 per hour for labour, plus parts and workshop consumables. For a simple minor service, expect to pay about $200-$300, with more extensive servicing or repairs heading upwards from there.

It can pay to check the manufacturer-specified service intervals for any motorcycle you’re considering buying – you’ll end up spending more on servicing for a bike with recommended 6000km service intervals than one with 10,000km intervals, for example.

Motorcycles are typically more fuel-efficient than cars, and small-capacity bikes will typically use less fuel than big-bore machines. However, fuel costs can still mount up if you ride every day or use the bike for frequent long-distance travel. Reading motorcycle reviews and checking with with online owner’s forums can give you an insight into how frugal (or otherwise) your intended purchase may be. And be aware that some bikes may require a higher grade of fuel, like 95RON unleaded instead of 91RON. That's an extra cost that really adds up over the life of the motorcycle.

And a motorcycle’s weight, capacity and type, and how regularly it is used, will also have an impact on tyre expenses. Tyres for smaller, less powerful bikes are generally cheaper and last longer than the fat, sticky rubber needed for large-capacity sports motorcycles, which can run to upwards of $700 to $800 for a set.

Also be aware that sports rubber will wear out far faster than harder touring or commuter compounds – you might only get 4000km from a set of sports tyres with hard use, while a set of touring hoops might last for over 20,000km.

The bottom line? Choose a bike that suits your preference, certainly, but one that also sits within your budget, both at the time of purchase and into the future.

• Motorcycle: what’s your preference – big or small, simple or specialised, new or used?
• Registration and licence: compulsory if you want to ride on the road
• Insurance: highly recommended – costs depend on many factors including bike value and coverage
• Riding gear: absolutely essential – get the best quality kit you can afford
• Maintenance and repairs: don’t skimp – regular servicing means more reliable riding and a safer bike
• Fuel and tyres: the more you ride, the more you’ll pay