Numerous factors play into how much money you should spend on your first motorcycle, the upfront costs, and the long-term costs. It is important that you weigh up the pros and cons and review a financial breakdown of motorcycle ownership.
The biggest up-front cost is your motorcycle. As a beginner, it is expected you will spend between $2,000 – $10,000 on your first motorbike. Ensure if you are a Leaner or Restricted Rider that you select a LAMS “Learner Approved Motorcycle Scheme”’ motorcycle. To meet the LAMS requirement the motorcycle must be under 660ml/cc and under 150kw/tonne and listed on the approved LAMS register with Transport and Main Roads. We strongly recommend that your motorcycle has an anti-lock braking system (ABS), and comfortable ergonomic design to improve safety and handling.
We also recommend that you conduct a PPSR to see if motorcycle has any encumbrance (money owing) on it, it has been stolen or written off – This will give you piece of mind on your purchase.
Just remember on top of the motorcycle purchase you also must outlay for protective gear which is necessary if planning a life on two wheels.
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