How can you afford a motorcycle?

Question

Seriously. This is a blunt question. How did each and every one of you here afford to buy one? Like what jobs do you have, how much do you make, and how long has it taken you to save up for one? 10 years??? Like I make $1000 (Canadian) a month, and most goes to bills! Its impossible to save anything. And then theres the motorcycle insurance you have to pay on top of it every month, which is about $156. But they're good on gas so you don't got to worry about that eh? Ok... so I've done some online looking, and for a decent low-end motorcycle it costs $5000. This really sucks.

Answer 1

i bought an '05 xl1200r sportster new off the floor and i dont work for gm. i make under 16.50 an hr, but i can snap up as much o.t. as i want to also.

Answer 2

Dude, check out usedcalgary.com or usededmonton.com.
There are some cheap bikes on there.
I live in Calgary and am selling my 1979 Honda CX500 for less than 2k.

Motorcycle season is a bit away yet... wait for the spring, and pick up a bike trader at the esso/7-11. There are some good deals. I bought my first 2 bikes used and have had nothing but great rides to the mountains season after season.

Some insurance places will actually award you an awesome deal if you have a second vehicle specifically a bike! Just do your research.

Bottom line, if you want a bike, you will work for it. That's what we all do! :)

Good luck!

Answer 3

Insurance in Canada must be a lot more expensive. Motorcycle insurance is pretty cheap here, especially if its not for a sport bike. I pay $300 a year for my sporty with 3 months downtime(as I'm in Wisconsin and then the rates are a bit cheaper if you don't drive those 3 months which is winter anyway) I started off with a used bike, which I recommend to you if you are just learning. You'll save on insurance with a used bike, and if you dump it it won't break you. Also, you'll save on gas as well. I know its frustrating not having the bike you want right away, but hang in there. A used older bike might not look so nice, but its the ideal way to learn to ride. Also, I took the motorcycle safety course and really recommend that as well. You save 15% off your insurance just for taking a $70 class. Good luck , and hang in there:)

Answer 4

First of all get a grip man...pay off all of your plastic (charge cards) and stop pissing your money away.
Save up a couple of grand (and at the same figure out what kind of bike you want) for your down payment, and at the same time start looking into a loan for starters. This is what I did when I bought my first street bike back in 1980. Well lets back up here, get you motorcycle endorsement on your license because you'll need insurance (proof in order to purchase from your dealer).

The last bike I made bi-monthly payments witch were automatic right from my savings account at the credit union in the sum of $123 every two weeks, and in a couple of years my $10,000 loan was paid off in full. You'll need to check around because not all banks & credit unions work the same when it come to motorcycle loans. My credit union will give (or it the time) 100% on a new bike only and the interest rate will change with the duration of the loan as well as the rate at the time you take the loan do to market rate. (77)

Good luck and I hope this informaton was helpful.

Answer 5

I scrimped and saved and worked a part-time job which I liked at the time, fuelling airplanes. It just takes alot of desire, hard work, and determination. EVERY dime I had went into buying a new BMW, which was about $7K US in '87. The dealer was REALLY cooperative, he had THE bike I wanted, took I think it was $500 down and said he'd take it off the floor when I hit $1000. I had the other $500 within a month, this was in the middle of summer in 1987. I had it all by March or April (1988). But I was set up pretty good, my mom was letting me live at home rent-free so I could save the money, and she even gave me some money cuz she knew how bad I wanted it. Eat, work, sleep, repeat, every week go to the bank to stick almost 100% of it into savings. I know most wouldn't be as lucky as i was, may take longer than it took me, but it can be done, just takes longer. I had some old Jap bikes to ride to keep me from going crazy, you sure you don't want to get a cheapo bike first? Or do you have one?

Answer 6

1st bike in 1967( 5 yrs old) a Chrismas gift a Sears 60cc,turned it three years later plus money earned washing cars for a Yamaha 80 ,then Honda 100 and so on many times .I've been working since I was a little kid ,bikes have always been one of the most important things to me.I am now 45, a business owner(General Contracting spec, finish carpentry) Clear around 100k U.S.$. I've currently got 3 custom Harley's (see 360)What I always say is "Having a sharp bike is not about being rich,It's about having really screwed up priorities" Put in some O.T. ,start a side business, be creative . Don't be one of the' herd ' But don't give up.

Answer 7

I bought my bike for 4,500 it is a 2000 Suzuki Gsxr and i love it and have never had a problem with it and it is stupid fast. I think Used is the way to go u can find a nice used bike but u have to shop around and not be so quick to commit. You have to know what u want do u want a touring bike, crusier or a superbike and really if have any kind of credit a 1000 dollars is a good down payment and u can get the bike that u want for as little as 50 bucks a month all u have to do is lose the cell phone and u got bike the trade is well worth to poeple like me who love to ride. Just shop around and know what u want. Look for people who keep all ther work recipts even oil changes they usually keep good care of their bike and most likely are only selling it cuz they got a kid comming or they r going to buy a new 1. also insurance isnt bad if u have a good record u buy just for the summer season and its pretty cheap like 100 for the whole season I piad for mine when i was still in school and was making ends meet on a pizza delivery boys salary now i started my carrer and make more then 5000 a month so as long as save your money a lot of banks and credit unions will line up to lend u 3,500 bucks for a good interest rate as long as u have some kind of credit line. Now im going to buy the bike for My name sake the honda Rc51 superbike a out of the box track thrasher with a v-twin and gobs of torque happy ridin dude

Answer 8

My first bike was a couple of hundred bucks. I was working as a bouncer and driving a truck and it was what I could afford. I still have it, it's in my basement work shop half way through a restoration.

I learned how to work on it myself to save money. I had the barest minimum of insurance on it and luckily never had an accident. Got a lot of years out of that old beast, it treated me real good. That's why I'm restoring it.

Fast forward a few years. OK, maybe more than a few. Between me, my wife, and my son we've got 14 bikes around the house. Street bikes, touring bikes, dirt bikes, race bikes. How did we do it? Went to college, got a degree in something useful, got a good job, went to work every day.

Find an old bike. Honda CB, Kawasaki KZ, Suzuki GS, Yamaha XS. Look on craigslist, ebay, your local newspapers, ask around at bike shops. Someone has an old running beater they'll sell you for cheap. Buy a shop manual and some tools and figure out how to fix it yourself. And go to college so you can afford the bike, or bikes, you really want.

Answer 9

Before the motorcycle, I was spending about $160/month (USA) on gas alone for my Jeep (modified, of course; bad mileage).

When I bought my motorcycle, I got a 4.95% finance rate (good credit) and the payments were only $120/month. Since I wasn't driving my Jeep as much, the insurance went down on it by quite a bit and I was only spending about $40/month on gas for the bike.

So it only cost me about $50 per month to own a new motorcycle, gas and insurance included. I currently pay $68/month for full coverage insurance on both my bike AND my Jeep.

If you've been quoted that much to insure a motorcycle, I would put money on you being under 25, right? There is a reason insurance companies charge that much for younger riders, and you've probably seen them riding wheelies on the freeway. They are called squids, and they are the reason your quote is so high.

Answer 10

Blunt question, blunt answers. All of mine except the last one were private sale.
For my first, I sold back a weeks worth of vacation to my employer for the down payment, and made small weekly payments until I was done. Then I picked it up.
One time I had an Audi I picked up for $200. Traded it and another $200 cash for my third bike. Was stupid, shouldn't have offered cash in that deal.
The Harley, my current (possibly last) ride: never in my life could I have afforded it on my own. It was a present from my oldest boy. A parting gift, you might say. It was what he decided I should have if he did not come back from Iraq. That's why his name is painted over the gold star flag on the tank. KIA 11 APR 06. If you go back through my other answers you will find most of the story. I'm not feeling up to writing it again.

Answer 11

Years of hard work. I'm 55 and ride a Harley at a great cost. I've had Goldwings and now on my 2nd new Harley to be delivered in May a Screamin Eagle Ultra Electraglide

Yes pots of money but I have worked damn hard for this time of my life. Helped all my kids when they have needed it and would continue to do so but my bike is my only passion and as I hardly ever drink. don't smoke or frequent loose women I think I deserve to spend my money on a little luxury for me

I enjoy riding and do so as often as possible with a group of other and many times as a lone rider and that time is just great

So work hard and save a little and it will come to you in all good time