Is motorcycling expensive? What’s the price of sanity?

Moto GP bikes go for around $3 million apiece! A lot more than I’ve spent on bikes over my lifetime.

You may have seen my last blog, with a picture of my short-lived collection of 6 bikes, and said: “Well, yes, it appears motorcycling IS expensive.”

But, of course, the sane amongst those in the motorcycling world may have only one bike. And, in a city like Toronto, this may actually be a money saving venture. “How?” you may ask. Allow me to explain…

A typical 500cc motorcycle may cost around $6000 to purchase used, a few hundred dollars per year in annual maintenance, and $1000 or more per year to insure, depending on your age, accredited rider training, driving record, geographic location, etc.

In Toronto, parking a motorcycle downtown, in any city parking spot that is metered, is still currently FREE. When I worked in the financial district, parking was $42/day in my building, though I usually parked 2 blocks away for $17/day. Parking my motorcycle on that same street was free, saving me around $2500 every year.

Most small bikes use gas at a rate of about 4L/100km. That’s better than a Prius. And a whole lot more fun. So if I were to have driven a typical car the 15 000 kms per year that I average on motorcycles, using 10L/100km, I would have burned an additional 900L of gas, at a cost of approximately $1.50/L, or $1450. (Sorry for all the math.)

Bikes hardly lose value. If purchased used, and sold before a complete mechanical overhaul is needed, bikes retain a signficant amount of their value. A $6000 bike may become a $3000 bike after 10 years!

I calculated that in 32 years of motorcycle ownership, having had more than one bike at a time, buying and selling all the bikes I’ve ever owned, I have lost a grand total of…

$31 573

Less than $1000 per year.

Less than the average new car depreciates over its first 3 years.

Less than half the cost of a Starbucks latte every day for 32 years.

So, the truth is that motorcycling can be relatively affordable. And, yes, I know that public transit is even more affordable. But, tell me, when was the last time you were super excited to be riding the bus?

Like my motto says: “Paying for my sanity one tank at a time”.

The price for my sanity, all told, is pretty cheap.