Can Motorbikes Combat High Fuel Prices?

When your weekly grocery shop costs $50 more than it did a year ago, it costs you double to fill your tank, and your bills seem to be going up and up, there is a combination of factors to blame:

• The ongoing impacts of COVID (yep, we’re still dealing with that)

• Supply chain issues due to severe weather and labour shortages

• Recent rate rises

• General inflation

Life’s expensive, so it’s not surprising that many Australians are looking for more affordable ways to get around.

For those seriously considering ditching two wheels and joining the motorcycle crew, there are multiple factors to consider. Some critical questions to ask yourself before buying a motorbike are:

• Do you feel confident riding a motorcycle in a variety of traffic conditions?

• Are you happy to ride in wet weather?

• Can you sacrifice the space and convenience of transporting goods that a car provides?

• Are you committed to wearing all the required safety gear every time you go for a ride?
  

If you answered a firm yes to all of the above, it’s time to talk about costs. 

*We couldn’t find enough publicly available information from reputable sources to provide an average. Insurance premiums are determined by where the bike is ridden and stored, the individual’s driving history and licence type, as well as a number of other factors. 

Motorbike licence

Riding a motorbike requires a different licence to your usual driver’s licence – unless you’re keen to zip around on a moped, in which case you only need a car licence in QLD, WA, SA and the NT.

In all states, you are required to complete a Driver Knowledge Test. In many states, a pre-learner course is also mandatory before you can collect your motorbike licence. This usually comes in the form of a two-day, in-person training course.

All of the above come with a cost, which can add up if you don’t pass the first (or second or third) time.

Tolls and on-road costs

Toll roads are the bane of every driver’s existence, but there may be some relief for motorcyclists. In some states, toll prices are discounted (sometimes halved!) for motorbikes. Unfortunately, in NSW, motorcycles are classified as Class 2 vehicles – the same as cars – and therefore come with the standard toll fee on most pay-per-use roads. 

Keep in mind that most toll roads are privately owned, and prices for use vary. 

Maintenance and repairs

Cars typically have a longer lifespan than motorbikes, so it’s important to service your bike regularly to help it go the distance. As with any second-hand vehicle purchase, motorbikes can come with unexpected problems that require major repairs. Ask around and read reviews to find a trustworthy mechanic. It’s a good idea to send your bike in for a tune-up every 8,000-32,000kms¹⁰.

Unless you have a stack of cash sitting in the bank, you might need some help securing your dream bike.

We’ll also help you pay it off sooner with our handy app and with no early exit fees.

Keen to know more?

Read up on our Recreation Loans or get an estimate – it only takes two minutes and won’t impact your credit scores.