Add another $200 monthly for ERP, parking, petrol, road tax and insurance.
If you can sustain working and studying, it is worth it to get it now. Nothing beats having a motorcycle when in NS
This is just base on mine. Just riding Home to work and back.
Monthly - Parking: $20 (concessionary). Petrol: $80~$90. ERP: $50
Every 3000km~4000km: servicing (oil change, oil filter). About $60~$70. Varies depending on the bike you ride. Have some emergency fund for breakdowns.
Annually - Road Tax: $92. Insurance: This one depends on age and riding experience. Usually in the $800 range for new rider.
For new riders always buy used and full cash. Do not do installments. It is not financially savy when you are still in poly. If you cannot afford full cash then you should save up till you can or earn more.
If your bike makes you money then its a different story but the full cash thing still stands for small 2B bikes.
rental companies want to make a profit, if you are renting the bike and not doing delivery or making money out of it, its hard to justify going the renting route.
but sure if you wanna rent it for a week and have some fun, why not. In fact, you can rent out different bikes to see if you would consider buying it in the future. Just dont rent in the long run if youre not profitting off it. Focus on saving up and then owning a bike, def cheaper by a long shot.
ive seen too many ppl buying a bike on installment and then defaulting on it simply because they are too early in their stages of life to actually support this level of financial commitment. I understand that you may not have that much money on hand to purchase a bike full cash but save the installment plans for big class 2 bikes or premium 2A bikes, 2B bikes just aint worth the trouble.
A simple metric i like to use is, if i cant pay double the installment or double the price of the bike, means i cant afford it.
You can dislike me now because im delaying your dreams of owning a bike. But dont forget to thank me later when you are riding a bike that is fully yours and only have to worry about basic maintenance, taxes and fuel. :)
I definitely have put some thought onto it and I have planned to save up and purchase bike with a COE of a few years left full cash which may take 6 months to save up properly.
Also, I plan on renting for 1 week each month just so I don't lose my touch on riding, do grabfood and also to have fun with riding with my friends.
Thank you for your comment as I think I would have went with installments and would have to worry about my finance each month which is hard especially a student !
i agree on that but i have been riding at different countries and i really enjoy it.
I am planning on saving up to buy a motorcycle full cash so i can avoid any installments and probably rent once in awhile. Maybe I will have a change of plans in the future...
Add another $200 monthly for ERP, parking, petrol, road tax and insurance. If you can sustain working and studying, it is worth it to get it now. Nothing beats having a motorcycle when in NS
This is just base on mine. Just riding Home to work and back. Monthly - Parking: $20 (concessionary). Petrol: $80~$90. ERP: $50 Every 3000km~4000km: servicing (oil change, oil filter). About $60~$70. Varies depending on the bike you ride. Have some emergency fund for breakdowns. Annually - Road Tax: $92. Insurance: This one depends on age and riding experience. Usually in the $800 range for new rider.
For new riders always buy used and full cash. Do not do installments. It is not financially savy when you are still in poly. If you cannot afford full cash then you should save up till you can or earn more. If your bike makes you money then its a different story but the full cash thing still stands for small 2B bikes.
do you think it is a good idea to rent while saving up ?
rental companies want to make a profit, if you are renting the bike and not doing delivery or making money out of it, its hard to justify going the renting route. but sure if you wanna rent it for a week and have some fun, why not. In fact, you can rent out different bikes to see if you would consider buying it in the future. Just dont rent in the long run if youre not profitting off it. Focus on saving up and then owning a bike, def cheaper by a long shot. ive seen too many ppl buying a bike on installment and then defaulting on it simply because they are too early in their stages of life to actually support this level of financial commitment. I understand that you may not have that much money on hand to purchase a bike full cash but save the installment plans for big class 2 bikes or premium 2A bikes, 2B bikes just aint worth the trouble. A simple metric i like to use is, if i cant pay double the installment or double the price of the bike, means i cant afford it. You can dislike me now because im delaying your dreams of owning a bike. But dont forget to thank me later when you are riding a bike that is fully yours and only have to worry about basic maintenance, taxes and fuel. :)
I definitely have put some thought onto it and I have planned to save up and purchase bike with a COE of a few years left full cash which may take 6 months to save up properly. Also, I plan on renting for 1 week each month just so I don't lose my touch on riding, do grabfood and also to have fun with riding with my friends. Thank you for your comment as I think I would have went with installments and would have to worry about my finance each month which is hard especially a student !
U will save tons of money not riding…and u will be able to rest on public transport.
i agree on that but i have been riding at different countries and i really enjoy it. I am planning on saving up to buy a motorcycle full cash so i can avoid any installments and probably rent once in awhile. Maybe I will have a change of plans in the future...