back to articles | November 29, 2022 | Moses Mwangi

Categories: Consumer Credit Leasing a Car

Should You Get a Motorbike on Lease? The Pros and Cons of Motorcycle Leasing

Motorcycles are relatively cost-effective and can be fun to commute to work or take weekend rides. However, motorcycle leases aren’t as common as car leases. In fact, most two-wheeler dealerships don’t even have leasing programs.


Motorcycles are relatively cost-effective and can be fun to commute to work or take weekend rides. However, motorcycle leases aren’t as common as car leases. In fact, most two-wheeler dealerships don’t even have leasing programs. Therefore, if you are interested in leasing a motorbike, you will need to research and inquire at every dealership to see whether they offer motorcycle leases. Otherwise, you will need to finance or buy your motorbike outright.

Like auto leases, motorcycle leasing needs you to make monthly payments over a given period of time. This is different from purchasing a motorcycle since you won’t own the bike at the end of your lease.

Leasing a motorcycle can have many benefits, but it has some drawbacks too. Here are the pros and cons of motorcycle leasing.

Pros of motorcycle leasing

Here are five key benefits of leasing a motorbike.

1. Low monthly payments

Buying a motorcycle can be extremely expensive, even if you purchase a used one or look into different financing options. A new Harley-Davidson motorcycle, for instance, costs around $11,300. When you factor in insurance and maintenance costs, the price can go up to a whopping $50 000.

On the other hand, you can lease the same bike and get on it with a reasonably low-down payment. In addition, since you pay the cost of the bike you will ride during your lease period, your monthly payment will be lower. This is a great benefit if you aren’t in a position to make major financial decisions.

2. Easy to upgrade and maintain

Leasing a motorcycle is a great way to precisely ride a luxury motorbike that you anticipate riding but can’t afford. This allows you to continually upgrade your bike. You can check with different motorcycle leasing companies and rent a more affordable model or lease one of the newest motorbikes on the market.

When you own a bike, you have to maintain it regularly to keep it in good condition. These upkeeps can be costly and time-consuming. If you lease a motorcycle, you won’t have to deal with all that hassle. The leasing company will handle all the maintenance, and you will be able to ride your motorbike without doing any work needed to keep it in excellent shape.

3. An opportunity to try out a motorcycle before you buy

Motorcycle leasing can allow you to try out a bike you are interested in buying but aren’t sure whether you are ready to make that kind of commitment. Moreover, you can rent specific models to find a motorcycle that is a good fit for you and would be happy with before making a purchase.

Buying a new bike is a big investment, and you shouldn’t feel rushed to make the final decision. Leasing allows you to enjoy the thrill of riding a motorbike without the price tag. If you like the motorcycle, you can always consider purchasing it later.

4. No worry about insurance

Accidents are usually inevitable when you are on the road. If you own a motorcycle, you will have to ensure you are properly insured, which may sometimes be a hassle. When you lease a motorcycle, you will be covered by insurance and won’t need your policy.

Furthermore, insurance can be a huge expense, and you may not want to keep paying for it. This is another way leasing a motorbike can help you save money. Besides not paying for the motorcycle, you won’t have to pay for the insurance.

5. Many options to choose from

There are numerous motorcycle rental options out there, making it easier for you to lease a bike of your preference. If you are a novice rider, you can lease a budget-friendly model that is easier to ride. Premium motorcycles are an option as well, along with everything in between.

Because you have too many choices, you can lease a bike you are happy with. You can find options at different price tags and choose a motorcycle model that best fits your budget.

Cons of motorcycle leasing

Here are four major drawbacks of leasing a bike.

1. You don’t own the bike

The obvious con of leasing a motorcycle is that you don’t own the bike at the end of the lease. That means you don’t have a trade-in if you decide to buy a motorbike. Consumers who regularly lease motorcycles over many years might end up paying more than they would if they had originally purchased a bike.

2. It hard to cancel a motorcycle lease

Leasing a motorcycle is like signing a rental agreement. You can just walk away from it, and there are usually high penalties if you do so. If you buy a motorbike instead, you can always sell or trade it in if you don’t need it anymore. It’s practically impossible to terminate a contract with a lease, though there might be some options available.

3. Mileage restrictions

Every motorcycle lease agreement states the number of miles you are allowed to ride per year without paying any penalty. However, if you exceed these limits, you can incur an additional mileage penalty that may add up fast. You might also be required to pay a fee for excessive wear and tear. Buying a motorcycle offers fewer restrictions on how much you can ride and what you can do with it.

4. It may not suit all your needs

It’s unlikely that the motorcycle you lease will perfectly suit all your needs and lifestyle. Unfortunately, since you don’t actually own the bike, the leasing company won’t allow you to make any adjustments or modifications. Therefore, a motorcycle lease is probably not a great option for you if you like making adjustments to a bike or tweaking the engine.

Should you get a motorcycle on a lease?

Motorcycle leasing is not for everyone. Purchasing a bike may save you money if you have the funds to buy one outright or have an excellent credit score. Nevertheless, leasing can be the best option if you have a bad credit score or are building your credit.

Furthermore, leasing is a good idea if you like to switch up the motorbike you ride regularly or plan to put many miles on the bike. Before you lease a motorcycle, it’s crucial to weigh all the potential pros and cons to see whether leasing works for your needs and lifestyle.