Renting a motorcycle instead of buying or owning one? RIBE is revolutionizing accessibility for bike enthusiasts with their motorcycle rental platform. But when does it make sense to regularly rent a motorcycle instead of buying one? Is it even worth selling the bike already sitting in the garage and only renting from now on? We delve into these questions with a calculative approach in this report.
Renting or buying a bike? We've crunched the numbers
When does it make sense to rent a bike instead of buying one?
The internet makes some things easier. Also in the motorcycle sector. RIBE, a platform where motorcycle enthusiasts can rent out their own bikes, offers exciting motorcycles at affordable rental prices. When does it actually make sense to rent a motorcycle instead of buying one? We did the math!
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FunkyFrankee
published on 01/09/2024
6,503 Views
Scenario: You don't own a bike yet and want to start riding
Luca has been passionate about motorcycling since a young age. Now, at 20 years old and with some savings, he wants to embark on the project of "learning to ride a motorcycle." In addition to investing in a motorcycle, Luca will face the following annual costs:
- Motorcycle insurance costs: Approximately CHF 600 per year
- Motorcycle service costs: Approximately CHF 500 per year
- Taxes and other expenses: Approximately CHF 100 per year
- Motorcycle parking rental: Approximately CHF 800 per year
- Tire changes: Approximately CHF 300 per year
In total, Luca will incur annual costs of around CHF 2,300, excluding the motorcycle itself. Of course, these costs can vary significantly depending on the rider's profile. However, we assume Luca is an average motorcycle owner.
The MT-07 he has his eye on was found in an ad from a private seller for CHF 6,000. Assuming Luca purchases this MT-07, it can be said that after 10 years, the motorcycle's value would be amortized. Thus, an additional CHF 500 per year would be added to this calculation.
'Renting a bike instead of buying your own motorcycle - does it make sense?'
Overall, Luca looks back on his beginnings in the motorcycle scene with an annual expenditure of CHF 2,800. At RIBE, you can rent a Yamaha MT-07 for CHF 80 per day. Included is insurance during the rental period from Helvetia with comprehensive coverage.
Simply put, Luca could ride a rental motorcycle for 35 days each year before the investment in his own motorcycle would pay off. Considering that the motorcycle season runs approximately from early May to mid-October, this would be practically every weekend.
Of course, there are other factors in this calculation, such as the time invested and the travel costs to pick up a motorcycle. At the same time, owning a motorcycle often comes with unexpected damages or defects, which also require further investments. Therefore, these additional factors were omitted here, as they would likely balance each other out.
Rent a motorcycle - or rent out your motorcycle - now on RIBE: www.ribeme.com/de
