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Saving Up for that New Bike - Saving and Earning On Your Ride

Saving Up for that New Bike: Saving and Earning On Your Ride

Those that love their motorcycles do not tend to let go of their rides for as long as they can help it, but at some point in time or another, everyone needs a new bike!

The Low Rider S, Fat Bob 114 or the classic Roadster from Harley are all good choices, or maybe the R 1250 RT and the K1600 GTL from BMW appeals to you more. You may not even like the bikes just mentioned because perhaps you prefer something completely different altogether, but all high-quality, high-performance motorcycles do have that one thing in common; none of them are cheap!

Why It’s Actually a Good Idea to Invest in a High-Quality Motorcycle

If you are a motorhead already, then you may not even need any other reason, but just in case you have been thinking about whether you should or should not invest in a new bike, the answer is, you should.

Motorbikes are undeniably more dangerous to ride than driving cars and that risk factor can only be controlled, but never eliminated, due to the very nature of two-wheelers. However, given that you are a biker already, it isn’t likely that you are going to be happy inside a car for too long anyway. If you are going to live the biker life, might as well do it with your dream bike!

Additionally, the best bikes by the best manufacturers in the world are a lot more likely to keep you safe on the road than any cheap replicas possibly can.

Finding Funds: The Best Bikes Do Not Come in Cheap!

A quality motorcycle can set you back by anything between $10,000 – $30,000, or even more if you want to customize it to your liking. As this is not a small amount of money that we are talking about here, arranging these funds require a bit of planning.

Start Saving Up Early On

One of the first points to remember is that you should be saving money for your next bike, on the very day you get your first. Even if you had not started two-years ago when you got it first, start saving up right now, so when the time comes, you have at least a portion of the funds ready for making a good down payment.

While starting with an entry-level bike is generally recommended, eventually, you will want something more and that’s exactly when you will appreciate your decision to save up from day one.

Take a Personal Loan

A personal loan can either be a short-term, high-interest payday loan, or it can be a long term, low-interest term loan. If you have a decent source of steady income and a good credit score, take a long term personal loan to finance your dream bike. Crediful has a list of the best personal loans available in 2019, so be sure to check it out first, or you may end up paying unnecessarily excessive interest rates on the loan.

Those that have already saved up a decent bit of money shouldn’t have to loan too much at all, but just in case you need to, rest assured that long-term personal loans can go up as high as $100,000 or more, depending on the lender and your credit score, so any bike you may have in your crosshairs, is definitely going to be covered.

Earn Money for the Next Bike with Your Present bike

While you are on the road, you could start working part-time for UberEats, Postmates, Lyft, and other delivery companies to earn some extra cash along the way. A lot of young bikers do it because it’s a fine way to sustain themselves while living the rider lifestyle.

As someone trying to save up for an expensive bike, what could be more poetic than using your current motorcycle and your love for the ride to save up some of the money you need?

The Hardcore Riders Have Even More Options

The tips mentioned till now are more suitable for anyone who loves riding, but also has student work or a job to attend to, but in case you are a full-on, hardcore rider, there is also the option to perform stunts at bike shows and vlog about your biking adventures on YouTube. In case you are really good at it and you manage to create a decent enough fan following, it’s even possible that motorcycle companies will sponsor most of the stuff you want!

Getting your dream bike may or may not be on the top of your list of priorities when you are still young, but the thing is, your priorities and responsibilities only increase as you grow older. Although you may earn significantly more a decade from now, it’s quite possible that you may not even be able to spend much of that money on motorcycles because by then, you will have a lot of other priorities to take care of. Therefore, if you want to ride your dream bike, it’s best to go for it as early in your adult life as you possibly can.

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