There’s more to buying a motorcycle than meets the eye. It’s not just about choosing the coolest looking one and riding off into the sunset. Finding the perfect motorcycle involves a lot of careful thought and consideration. Before you purchase that motorbike, ask yourself the following questions:
What’s your budget?
This is one of the most important things to consider when buying a motorcycle. Though not as expensive as cars, motorbikes can still set you back a few thousand dollars. Knowing how much you can comfortably afford will make all the difference to your finances.
Before you shop around, review your income and monthly expenses carefully. Take note, buying a motorcycle isn’t just a one and done deal. You need to account for insurance, gas, parking, safety equipment, and maintenance costs. At first glance, you could afford a top-of-the-line motorcycle, but the hidden fees could put you in the red.
Once you’re set on a budget, you need to figure out how to finance your motorcycle purchase. If you’re not keen on using your savings for a motorcycle purchase, you can always get a motorcycle loan.
Get pre-approved for a motorcycle loan
When you apply for a pre-approved loan, the lender will tell you how much you could potentially borrow. This will give you a better idea of what your bike loan repayments would look like. From there, you could create a more accurate budget by including additional costs associated with a motorcycle purchase.
With a pre-approved motorcycle loan, you can shop with more confidence. Dealerships are more likely to take you seriously with a pre-approved loan because it shows you’re ready to buy. This will also give you a head start on getting proper bike financing as well.
What will you use your motorcycle for?
Not all motorcycles are made the same. In fact, there’s a myriad of motorcycle styles and types made for specific purposes. To find the right motorcycle, you need to figure out what you’ll be using it for.
Here are common types of motorcycles you may see while shopping around:
-
Sports bikes – These motorcycles are ideal for those who want to pump up the adrenaline. Made for speed, acceleration, agility, and precision, these bikes are perfect for racing. Because they’re built for heightened performance, they’re not great for comfort, fuel economy, noise, or storage.
-
Standard bikes – Also known as naked motorcycles, these are designed with comfort and utility in mind. If you want to use a motorbike as your primary mode of transport, a standard bike could be a great fit for your daily commute.
-
Dual sport motorcycle – These motorcycles can be ridden on highways and endure off-road biking. It’s a best of both worlds scenario for those who want to go off-road riding while still using the motorcycle for their daily commute. They’re tall and lightweight, however, they usually have upright seating and low windshields, which could be an issue for some riders.
-
Cruiser motorcycle – Cruisers are built for comfort. If you want to go on long scenic journeys, a cruiser motorcycle is the way to go. These bikes are designed to be low and long with a lower power-to-weight ratio and a focus on low-end torque.
-
Touring motorcycle – For those who want to go on long adventures, a touring bike is perfect. These are built for long haul rides and typically equipped with weather protected, waterproof storage, comfortable seats, heated handgrips, and other useful features.
-
Adventure motorcycle – Also known as ADV bikes, these motorcycles are capable of on-road and off-road riding. They’re usually versatile and comfortable making them great companions during off-road trips. However, these bikes can be heavy, and some models have limited off-road capabilities.
-
Electric motorcycle – A popular choice among the environmentally-conscious, electric motorcycles come in various makes and models. Their main difference from the standard counterpart is that they run on electricity instead of petrol.
The perfect motorcycle is something that fits your riding needs perfectly. When shopping for the right bike, don’t hesitate to hop on and see how you feel about it. Test driving the motorcycle before you buy is essential as it gives you a good idea of how a certain bike handles.
What’s your skill level and size?
In addition to use and budget, you need to think about the motorcycle’s dimensions and your riding proficiency. Unlike cars, motorcycles are a bit trickier to operate with some makes and models being more advanced than others.
Certain types of motorbikes are better suited for beginners while others are a good fit for those with more experience. If you’re just starting your riding journey, for example, finding a good beginner bike that fits the Learner Approved Motorcycle Scheme should be the priority.
Motorcycles, quite literally, are not a one-size fits all type of vehicle. Certain models are built taller, bulkier, and heavier, which may not be a great match for those who are more petite riders. When choosing a motorcycle, always think about the dimensions and take it out for a test ride to see how it feels while on the road.
How do I find the best motorcycle loan?
Now that you know all about how to choose the right motorcycle, the next step is finding the perfect finance solution. Finding the right one may be difficult with so many lenders out there. To get the best deal on your loan, try enlisting the help of professional finance brokers like Aussie Bike Loans.
As a finance broker, Aussie Bike Loans can help you get the best deal on your motorcycle loan. We’ll connect you with our expansive network of lenders, so you get a loan with competitive rates and useful features. For more information, call 1300 889 669 or get a quick quote online!
