Even though they’re quite popular as a primary mode of transportation, motorcycles are still considered recreational vehicles and luxury items. As a result, they have a higher price tag than you would normally see with a luxury item. After all, it’s not just about getting a machine. It’s about the lifestyle that goes along with the bike!
When you buy a car you want it to perform well, but you mostly want it to be convenient and economical. With a motorcycle, however, you’re looking for a whole lot more performance.
Modern motorcycles are also going to have a lot of different features. When you want bells and whistles you’re going to pay more for them because they’re more difficult to design and install. The more you want your motorcycle to do the higher the cost is going to be.
There is a level of liability involved when a manufacturer builds a motorcycle because they are taking someone’s life into their hands.
A car is generally produced in huge quantities because just about everyone has one. There are around 300 million registered vehicles in just the United States. But motorcycles are at only 8.5 million! In order to account for the fact that motorcycles are more expensive to make because of these lower quantities, the costs are actually higher.
Finally, riders are willing to pay the money. Yes, one of the major factors that affect the high price of motorcycles is that the motorcycle manufacturer is just able to do it. Because so many people want a motorcycle and will pay the price the company increases the price. Basically, it’s about supply and demand!
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As the demand is very low, that is why new companies don’t come to the US market, because there is very less chance of making a profit form a low demand market , and only big companies like Harley, Triumph, BMW, Honda, Ducati, etc. can afford to sell their motorcycles in the US.
Motorcycles are more Economical: Motorcycles can cover more miles as compared to cars in terms of miles/gallon of gas, and if you want to save some money then you can go with motorcycles, to save some bucks while traveling.
Yeah, there are some months which are the best time to buy your favorite motorcycle, and winters are the perfect time to buy a motorcycle, in this time, there are very less demand of motorcycle and you can easily negotiate, and if the weather is good enough then you can also ride it, because at that time the roads are less crowded, and you can enjoy your ride more peacefully.
Because of the recent increase in the taxes of import of aluminum and steel, this also increases the cost of making the parts of motorcycles. And in sports motorcycles, manufacturers use lightweight materials like titanium and copper fiber to reduce the weight and increase the strength of the frame.
Every year the manufacturers have to update their motorcycles with new features to make them more fast and lightweight and to improve the sales . These new innovations improves the overall performance, and it requires a lot of research and resources to find new innovations.
Parents don’t like if their kid starts riding a motorcycle because they think the motorcycle is dangerous as compared to cars, and because of this myth many people fear about riding a motorcycle.
And after buying a new motorcycle, you have to pay for the insurance other types of fees like Destination Charge or Freight Fee, Setup/Prep Fee, Doc Fee, Tags/Title Fee, and Sales Tax. And then you have to pay for the license and for regular maintenance of the motorcycle.
So, what factors can affect your motorcycle insurance costs? There are several factors. Let’s break them down.
Type of bike – The type and engine size of your bike will also affect your rates. The larger the engine, the more you’re going to pay for coverage. For bikes of the same displacement, sportbikes will cost more to insure than cruisers and touring bikes. In addition, more expensive bikes will also cost more to insure.
Even non-accident-related claims can drive up your rates. In most cases, accidents and claims will fall off your record in seven years. Vehicle usage – Most insurance companies will take into account how your bike is being used. If you’re a weekend rider, you can expect to pay less than someone with a commuter bike.
Motorcycle endorsement (driver’s license) – In many states, you can ride a motorcycle with a learner’s permit, with certain restrictions. That said, you’ll get better insurance rates if you get a motorcycle endorsement on your driver’s license. Typically, this involves a written test and a road test.
Age and riding experience – As with car insurance, younger riders are going to pay more for insurance. Riding experience is also a factor. So the first-time biker in their 50s will pay more than a 22-year-old with four years of experience.
Bundling/multiple coverages – Many insurers allow you to bundle your motorcycle insurance with your auto, boat, or other insurance policy. This can get you a significant discount.