Riding a motorcycle can be a great way to experience the joys of the open road and explore the world around you. But before you can hit the road, you’ll need to decide how you’re going to get a bike. One option is to lease a motorcycle. Here’s a guide to help you understand the basics of leasing a motorcycle and make the process as smooth as possible.
The Steps to Lease a Motorcycle
1. Research Motorcycle Models
Before you even think about leasing a motorcycle, you need to know what kind of bike you want. Spend some time researching different models, paying attention to engine size, performance, safety features, and other important considerations.
2. Figure Out Your Budget
Once you’ve settled on a specific model, you need to think about how much you can afford to spend. Make sure you’re realistic about what you can pay, as you’ll need to cover the cost of the lease, insurance, and maintenance.
3. Find a Motorcycle Leasing Company
There are two big players in the motorcycle leasing space: MotoLease and Speed Leasing. These companies work with motorcycle dealerships to lease motorcycles to consumers. You can either reach out to these companies or inquire about a lease at your local motorcycle dealership.
The Benefits of Leasing a Motorcycle
Leasing a motorcycle has several advantages. For one, you’ll be able to get a newer model of the bike than you would be able to afford if you were buying outright.
Leasing also allows you to get a bike without a large upfront payment. And since you’ll be paying a monthly payment on the bike, you’ll have the flexibility to upgrade to a different model when the lease ends.
The Downside to Leasing a Motorcycle
Leasing a motorcycle isn’t without its drawbacks. For one, you won’t build equity in the bike, as you would if you bought it. You also won’t be able to customize it as much as you could if you owned it outright.
Additionally, at the end of the lease, you’ll either turn the bike in or pay a large balloon payment in order to keep it.
