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True cost of ownership

Gary856

Gary856

Are we having fun yet?
Joined
Apr 6, 2009
Location
San Jose, CA
Moto(s)
WR250F, MTS1200, FZ1, DR650, R1250GS
Name
Gary
All this time I think of cost of ownership this way: what I paid - what I sold = cost. So I paid $4.5k for my ZX-10R, 4 years later sold it for $4k. $500 is pretty cheap for riding it 4 years! :cool

Well, I just looked at my records and went over the numbers for real:

Purchased price (10/27/10) $4,500.00
Major service + tires (10/30/10) $866.93
Initial registration $385.00
Title xfer $15.00
Sales tax $370.00

brake flush $57.59
dropped valve, engine repair (2/23/12) $1,835.00
oil change $66.15
oil change + tires $517.26
brake fluid $40.00
gas $1,615.19
Insurance (4 years) – estimated $2,500.00
Registration (year 2/3/4) – estimated $1,000.00
Total cost $13,768.12

Sold (12/16/14) $4,000

Net cost in 4 years $9,768.12

Miles ridden 14,715 mi
cost per mile $0.66 ZX-10R

The numbers are sobering:
- Initial purchase of $4,500 became $6,137 after maintenance update/tires/DMV.
- Close to $2,500/year on just this one bike. I've always had 4-6 bike simultaneously the past 6 years. :(
 
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Yeah, it's sobering to look at it that way. Even worse to look at some cars though.

At this point, just reaching 60k on my bike I bought brand new in December of 2013, I've already spent quite a bit.

Bike was $23k plus I spent another $1000 on accessories
Gas so far has been $5,170
Tires have been $1500
$280 on oil
$500 on other maintenance supplies (filters, spark plugs etc.)

So that's $7450 I've spent on just making the bike go for the last 60k.

Granted, if I had driven my truck for the last 60k I'd have spent $9000 on gas alone...
 
I'm surprised that someone with 4 bikes takes their bike to a shop for service, but I'm even more surprised that someone with 4 bikes, who takes a bike to a shop, is still managing to do a financial shakedown on cost of ownership. Most owners after 2 bikes just thinks of it as a lifestyle and can afford it without batting.

If you did your own maintenance, you would be decreasing ownership cost dramatically. Oil change $60?!
 
Back in 2010 I too posted similar numbers at .61 per mile; BUT it did not including fuel, insurance, or cost of bike or financing. So I can say your numbers are spot on!

Link to original post back in 2010: http://www.bayarearidersforum.com/forums/showpost.php?p=5836120&postcount=1

If you add the cost of the bike to lets say 20,000 miles of riding at a TOTAL out the door purchase price of $7,000, then that's .35 per mile. Insurance is a different thing. Some riders I know rack up 20,000 miles per year. Up until 3 years ago I averaged around 7,500 miles per year, but am down to about 2,500 miles per year. So insurance is difficult to calculate. 2016 will be my year to rack up miles :cool
 
I just did a similar exercise with my cousin who is a senior at Reed in Portland. My uncle asked me to sit down with her and seriously discuss motorcycles as she really wanted to get her first bike and was trying to justify it to him as a cheaper alternative to a small econo car.

After first discussing the cost of acquisition for a suitable low mileage used bike, there was then training and gear. Gear cost threw her. But when we got to insurance and maintenance, that's when she realized now isn't the best time.

Point wasn't to dissuade her, but to be realistic. I am encouraging her to get a bike after she graduates and gets a job with some disposable income if the passion persists. For now she realizes that Honda auto my uncle is providing her is a great deal! :laughing

I've never owned a bike that was cheaper than an econo car per mile. But thats not why we ride. If you have the tools and skills to all the maintenance and repairs... its gets closer... but still more expensive IMO.
 
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I wonder what the hell my tacoma works out to be.... SHEEESSHHH
 
Your bike choice is on the more expensive end of running costs. Likewise the repair really skews the numbers. Most bike owners will not have to worry about valve work.

I used to keep track of everything on my 250 and it ended up being about $.124 per mile with the whole purchase price of the motorcycle counted.

I am currently tracking on my scooter. I expect total cost per mile to be below a .10.
 
I have a cbr250 and I am pretty sure the cost of that bike is cheaper per mile than a car. The tires, chain, and brakes last forever. It gets a consistent 66mpg
 
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A bike can be relatively cheap but you are not going to be saving money if you also own a car. The downside of bike maintenance is that it is more frequent and often more expensive than a car. The key is to keep your mileage down so you are not going though tires and chains all the time. An econo car is still cheaper.
 
banshee01 said:
I have a cbr250 and I am pretty sure the cost of that bike is cheaper per mile than a car. The tires, chain, and brakes last forever. It gets a consistent 66mpg
Click to expand...

The big difference in cost of ownership is:

Motorcycles REQUIRE much more maintenance than typical car these days.

Motorcycle tires last about 5k miles and cost at least $100 each and usually more like $150+ each. Car tires typicall coat about $100-150 each but will last 60k miles or mire on most cars.

Then there is insurance, storage, security, riding gear, rider training...

If you are looking at motorcycles as being cheaper than a car, I think you really need to do the math for the whole picture.
 
Small price to pay for the enjoyment of riding.
 
Thanks for breakdown, OP, it really does give perspective for those of us unwilling to do hard things like math. I've never broke it down exactly, because I don't really want to know. I commute on the thing, and it's definitely cheaper than wearing out a four-wheeled vehicle, but not as much as I would hope.
 
motomania2007 said:
The big difference in cost of ownership is:

Motorcycles REQUIRE much more maintenance than typical car these days.

Motorcycle tires last about 5k miles and cost at least $100 each and usually more like $150+ each. Car tires typicall coat about $100-150 each but will last 60k miles or mire on most cars.

Then there is insurance, storage, security, riding gear, rider training...

If you are looking at motorcycles as being cheaper than a car, I think you really need to do the math for the whole picture.
Click to expand...

my cbr cost $3000 and I pay $15 a month on insurance. Go try and buy a $3000 car and it will not be one of these maintenance free cars you are talking about.

Car tires will last longer provided the brakes, rotors, struts, and alignment have also been maintained but my cbr's rear tire goes for 11k miles and cost around $100 for a new one. I mount and balance my own so that is total cost. I can't mount or balance my own car tires either.

Storage and secuiruty is called my garage where I would keep a car also.

Cars need to be smogged every other year and when they don't pass that is possible to add up really fast

Cars are pretty high maintenance also people just tend to only put gas in them and drive.

Im not gonna insult anyone here but I really think you can ride a motorcycle for cheaper than a car in some cases but not all obviously
 
NoTraffic said:
If you did your own maintenance, you would be decreasing ownership cost dramatically. Oil change $60?!
Click to expand...

I DO my own oil changes and it costs more than that. 4 liters Full synthetic 5-40 Motorcycle oil, filter and a crush washer is closer to $70.
So at a shop would be easily over $100...
I don't ride to save money, I ride to release my soul.:x
DT
 
Having motorcycles (for pure enjoyment use) would be a problem if you weren't keeping up with your basic financial obligations (which are too numerous to list). But your disposable income is just that, disposable. What would you spend that money on if not motorcycles and their upkeep? Until something else comes along that I like as much as riding a motorcycle, I'll keep dumping my disposable income into riding. Tires, gas, registration, and insurance is thousands of dollars a year alone for me. I do a lot of my own maintenance, almost everything except opening up the engine, and it's still a lot of money. oh well...............:p
 
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The numbers have to be seen in context. Riding a sports bike is like driving a Porsche or BMW, maintenance will be high.
 
rsrider said:
Having motorcycles (for pure enjoyment use) would be a problem if you weren't keeping up with your basic financial obligations (which are too numerous to list). But your disposable income is just that, disposable. What would you spend that money on if not motorcycles and their upkeep? Until something else comes along that I like as much as riding a motorcycle, I'll keep dumping my disposable income into riding. Tires, gas, registration, and insurance is thousands of dollars a year alone for me. oh well...............:p
Click to expand...

Well-said.

"I got expensive taste, oh well. Guess I better save up."

-Gwen Stefani "harajuku girls"
 
Gear can add to the cost of motorcycling.

Helmet $250
Gloves $100
Boots $100
Jacket $250

Then optional
Back protector $100
Pants $250
Spandex top $50
Spandex tights $50
Wind stopper top $60
Rain gear $100
Balaclava (face mask) $30


All about $1340
 
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