Could a Motorbike Save your Family Money?

Are household bills adding up? If you’re like many families, a good percentage of your income goes towards your car. Monthly car repayments, insurance, fuel, and maintenance all really add up, not to mention the cost of depreciation over time. The type of vehicle you drive can have a serious impact on your monthly costs. Have you thought about using a motorbike to run errands or commute to work? It could save you a bundle.

Image Source: thomasrdotorg/Wikimedia Commons

Image Source: thomasrdotorg/Wikimedia Commons

Avoiding Sticker Shock

Even used cars can cost a bundle these days, particularly if you want something reliable with all the latest built-in technology. New family cars can lock you into a five-year financing plan, with hefty monthly payments. A good starter motorcycle can be found for as low as $5,000 even when it’s brand new, and slightly used models will be even cheaper. Naturally, the cost will vary depending on make and model but generally you’ll get more for your money when you go with a smaller vehicle than a traditional car.

Benefiting from Fuel Efficiency

It’s not uncommon for motorcycles to offer fuel efficiency levels of up to 80 miles to the gallon or even more. Even the most average model will give you roughly 40 miles to the gallon, which is a vast improvement over many commuter cars on the market. The lighter the motorcycle you choose, the better your fuel economy will be. There are also hybrid models on the market now, which can further boost economy. You can also save money on fuel because your commuting time will be shorter on a motorcycle, as you can zip in and out of traffic and find parking more easily.

Cutting Insurance Costs

If you have a family, you’re probably thinking that motorcycles are too risky for your lifestyle. However, in the eyes of insurers they are actually often seen as less of a risk, which is another reason why you could potentially save money by riding one. The amount you can save will depend on your age, driving record, and the type of motorcycle you choose. It’s possible that you’ll spend more on insurance if you take out a full comprehensive policy, but if you stick to basic liability insurance you may save a bundle. This will depend on your comfort level and what you plan to use your bike for.

Potential Drawbacks

Naturally, trading your minivan in for something like this Vespa at Bikesales isn’t right for everyone. If you have a big family, you’ll need room for the kids and their friends. You’ll miss out on luggage or storage space with a bike, and if safety is one of your top concerns you may prefer a more solid vehicle.
However, the factors mentioned above are all potential reasons to give a motorbike a second look when you’re weighing the monthly budget. You may just find it to be a good solution, not to mention pretty fun to drive!

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About Rachel

Rachel Akers writes about crafts, recipes, and features the adventures of a family of 4. It is always crazy but I wouldn't change it for the world! Comments or questions? Talk to me on Facebook or Twitter or sign up for our RSS feed to have future articles delivered to your feed reader.