Six Costs Of Buying And Owning A Motorcycle That You Shouldn't Overlook

Cost is likely to be one of the most important considerations for you when you're on the market for the right motorcycle model. The following are six costs of purchasing and owning a motorcycle that you shouldn't overlook. 

Insurance premiums

Some motorcycle models cost more to insure than others. Motorcycle models that are more expensive or feature fewer safety features are generally more expensive to insure. You should have an idea of how much you'll have to pay in insurance premiums for a particular bike model before you decide to buy it. 

Depreciation

If you're buying a new bike, you should be aware of the fact that it's going to drop in value after you ride it off the lot. While you don't have to pay the cost of depreciation immediately, you will be impacted by it down the road when you sell or trade-in your bike.

It's important to note that some bike models retain their value better over time than others. You might want to consider the costs of depreciation and look at bike models that retain their value well to make the best possible investment. 

Sales tax

Sales tax is a cost that you'll also have to pay as part of purchasing your motorcycle. Sales tax depends on the state you make the purchase in.

Sales tax can be a significant expense when you purchase a more expensive motorcycle model. If you live close to a state border, you might be able to choose to buy from a dealer in the state near you with the lowest sales tax rate to save some money.

Title and registration fees

Although title and registration fees are a minor expense, they're still an expense that you shouldn't overlook when budgeting for your motorcycle purchase. Dealerships may add these costs to the total cost of the bike if they're handling the title and registration process for you. 

Document fees

Dealerships sometimes charge document fees if they handle DMV paperwork for you. Although document fees can vary by dealership, they can also vary by state depending on the amount of time and effort required to complete the task of titling and registering a vehicle. 

Freight fees

At some dealerships, you might have to pay an added freight fee. This fee accounts for the money the dealership has to pay to have the motorcycle sent from the manufacturer. Freight fees may be slightly higher for larger, heavier bikes. You want to ask your dealership if you'll have to pay a freight fee on the bike model you're interested in. 

Keep these things in mind as you look for a new motorcycle like a Street Bob motorcycle. 

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