As a young adult, when you’re first starting to get your financial feet under you, it can be hard to know what to invest in first. Do you start building equity by trying to save up for a starter home, focus all your finances on quickly paying off student debt, or get yourself a car so you can stop taking the bus and catching rides with friends and family? No doubts all of these goals are important but for most, the urgency of a vehicle usually wins out. For the freedom of mobility to get to new jobs, go shopping when you need to, and take care of private business, nothing beats having a vehicle you have bought with your own money. Of course, cars come with their own whole new set of expenses from maintenance to gas prices, not to mention the initial investment and size of the loan required to get one.
Rather than stressing about which model of car is best, take a second look at the situation. If you’re young, athletic, and have reasonably good reflexes, a motorbike might actually be a far more strategic option and here’s why:
1) Lower Cost to Purchase
When you’re trying to put a whole adult life together, buying a vehicle is a huge decision, one that can potentially take a chunk out of your paycheck for a decade or more before the car is even officially yours. A motorbike, on the other hand, is smaller and they are usually much more affordable than a new or four-door sedan. If all you need is a motor and some wheels to take you from place to place, a nice new motorbike can be far more enjoyable and easier on your wallet than even a used car.
2) Fuel Efficiency
One of the biggest calculations anyone looking to buy a vehicle should make is what their average weekly fuel price is really going to be. All too often, someone without a lot to spend will buy a used car or some old junker that seems cheap at the selling price but burns inefficiently through fuel and stacks up the maintenance cost. Not only can you afford a nicer quality bike with a good warranty plan for lower than the price of a lesser-quality car, but the price of driving will be lower as well. This is because fuel efficiency is greatly affected by the weight of a vehicle and motorbikes are made lightweight with far less frame to support and haul around. If you’re looking to get around on a budget, we highly suggest considering the benefits of a motorbike.
3) Easier to Park
A major sticking point in home design, workplaces, and apartment rental is parking spots. As cities get more and more packed, not only are builders skimping on parking for more structural space, but there are simply more cars taking up the spaces that are available. Unlike a car which always needs a full parking space to safely turn it off and walk away, a motorbike can be parked in half-spaces, ‘dead space’ in a parking lot where nothing really goes, and even hauled up onto medians, patios or, or pavement if there’s no other place to put it. This is especially useful for apartment-dwellers who are not provided with a spot, as you might even be able to store a small motorbike on your porch.
Whether you’ve always loved motorbikes or are simply looking for the most practical way to get a nice vehicle in a price range you can afford this year, a motorbike is a great alternative to a low-quality car. From a smaller-sized bike loan to a greater selection in parking spots, you can ride free while you’re young and wait to get that four-door sedan until you’ve gotten a promotion or two and are ready to settle down.
At Ezilend, we specialise in loans of all shapes and sizes. If you are in the market for a motorbike and need a loan to finance your purchase, please give us a call and see how we can help make your dream a reality.