Personal Finance Resources

As gas prices continue to climb, I find myself considering more and more to move a motorcycle, gas mileage being the most important factor in considering the change. But at what price does gas have to get to before you will make a change in your vehicle? Just check out this list of Honda motorcycles and their gas mileages (chart taken from http://www.totalmotorcycle.com/MotorcycleFuelEconomyGuide/Honda.htm):

Now, I of course chose Honda motorcycles for my example because I just love Honda. They are pretty much the only thing I drive, with the exception of Toyota (I would drive a Toyota as a second choice). But think about, let’s say you had a car like mine, where you had a 12 gallon tank and averaged around 25 miles per gallon. So you would average around 300 miles on a tank of gas, and at the forthcoming price of $4 per gallon, you are looking at $48 each and every time you fill up at the gas station.

Now, let’s compare that to the average of the chart above, based on just the AVG MPG / L/100 km column. That average over all the models with data displayed is ~46.5 miles per gallon. So that is almost twice the gas mileage. So to drive the same 300 miles, now it will only cost you $24 at the pump, instead of the $48. So the question is - how many times a month do you have to fill up your gas tank? I usually have to fill up once a week, which means I spend (at $3 per gallon for gas) about $130 per month in gas. Would I like to be able to spend just $65-$75 per month in gas? You bet.

Here’s my problem though (and maybe you can relate). My wife does not like the safety risk associated with driving a motorcycle. So to this point, I have obliged and not bought a motorcycle. But if gas continues to get more and more and more and more….you get the picture…and more expensive, that may be just what happens.

The other thing about motorcycles that is so great - they depreciate even faster than cars and trucks. So realistically, you can get a bike that is 3-4 years old, in good condition, for $1,000-$2,000. So for me, it may just be a matter of time before I take the plunge and go ahead and buy a motorcycle. The gas mileage is phenomenal, and the cost to acquire is low as well. A perfect mathematical equation for financial success.

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