So, you have decided you want the thrill and freedom that comes with riding a motorcycle. The next step is deciding whether you should buy the motorcycle outright, or whether you should look at other options that are available. This can be a difficult decision to make. Below, you will discover the pros and cons of owning a motorcycle so that you can make up your mind.
PRO – THE MOTORCYCLE IS YOURS – One of the major benefits associated with buying a motorcycle is that it will become yours. You will own it. You can then sell it, and you can customise it any way you want. A lot of people don’t like leasing in general because they feel like they have nothing to show for their money.
CON – IT REQUIRES A LARGE UPFRONT PAYMENT – One of the main reasons why people feel like they have no choice but to lease a motorcycle, or any type of vehicle for that matter, is because they cannot afford the upfront cost associated with buying a motorcycle. With leasing, you will benefit from manageable monthly payments.
PRO – YOU WILL HAVE A BIGGER SELECTION OF MOTORCYCLES TO CHOOSE FROM – When you buy a motorcycle, you are going to have a huge range of options available to you. This is because you can dabble in the second-hand market as well. You can take a look at the used Harleys available to give you an idea of this market. This means you will be able to consider options you wouldn’t be able to afford if you were buying new, as well as motorcycles that may no longer be available when buying a new vehicle or leasing.
CON – YOU WILL HAVE TO FUND REPAIRS – When you buy a motorcycle, it becomes yours, and it is, therefore, your responsibility. This means that you need to fund repairs and pay for all servicing and maintenance. If you were to lease a motorcycle, the company you leased it from would be responsible for all of this.
PRO – YOU DON’T HAVE TO PAY ANY FINES OR FEES – When you lease a motorcycle, there are a number of fines you could be subject to if you do not adhere to the contract. For example, if you want to end the contract early, you will need to pay a pretty hefty fee in order to do so. Not only this, but also most lease contracts have a mileage limit, meaning you can only do a certain number of miles per year. And, yes, you guessed it; if you go over this, you are going to have to pay a fine.
As you can see, there are pros and cons associated with owning a motorcycle outright. There is no right or wrong answer. It is all about figuring out what is right for your situation specifically. By considering the factors mentioned above, you should be able to come to a decision that is right for you.