Can you save more on two wheels than on four?

Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors
, updated on August 23rd, 2023       

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Motorbikes are not only a convenient way to help you get from point A to B and navigating tight traffic spots that a car couldn’t possibly squeeze into, but it can also be cost-effective. There are many saving points in which a motorbike outsells having a car. Here are four handy tips when it comes to saving with your motorbike.

You can find your wheels at an affordable rate

Having a reliable mode of transport means digging into your finances to provide you with a new set of wheels, but it can be a deep dig. According to RACQ, Aussies already spend an average of $116.11 a week on cars classified as micro and up to $332.82 a week on cars classified as SUV all terrain. An average motorbike, on the other hand, can save you on fuel costs depending on the brand. The more refined your taste for motorbikes is the higher the cost, so it is best to be prepared with a savings account locked in place or a leisure loan that can help you purchase your new or used two wheels.

It helps you cut down your insurance premiums

After spending the time to gather your finances together to purchase your wheels the last thing you will want is to not have it protected from accidents or theft. However, one thing that can leave your pockets feeling sorry is having an insurance cover that comes with high premiums because you have the wrong cover or the wrong vehicle that is suitable for your finance.

By using the freedom to compare to get a premium that is affordable for you can help you save further. Keep in mind that your insurer will still assess your premiums according to your age, gender, and the type of driving history you have.

Keeping your baby purring

Maintaining your wheels to a standard that will have it purring for as long as possible means that you need to keep a maintenance schedule. Skipping maintenance day can see you paying through your nose when you run through a bigger problem that could have been fixed earlier. There are also other costs that you need to factor in when it comes to repair and maintenance.

Keep in mind that motorbikes need its tires to be changed every 4,828 Km. Having a budget set in place that will take care of any repairs and maintenance that is needed will create a buffer to help you save on costs, but overall the costs of having a back will be considerably lower as time goes on.

It can offer better mileage

A motorbike can have its perks for people that work and want a mode of transport that has better mileage. Not only will you be able to navigate those tight spots during traffic hour, but it also means that you can cover further distances compared to a car. Planning your routes in advance and knowing spots where traffic is bad can help you save a couple of dollars at the pump.

Having a motorbike can come with its perks but like everything in life, planning is essential to keep the costs down. Keep in mind that if you want a bike that is more than average its costs will also be more than average, which means that you will have to prepare your finances to handle your expenses effectively.

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