{"id":1072,"date":"2018-03-29T17:24:28","date_gmt":"2018-03-29T11:54:28","guid":{"rendered":"https:\/\/www.rentomojo.com\/blog\/?p=1072"},"modified":"2024-07-23T12:21:00","modified_gmt":"2024-07-23T06:51:00","slug":"total-cost-of-ownership-bikes","status":"publish","type":"post","link":"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/","title":{"rendered":"Total Cost of Ownership for Bikes: What Is TCO &#038; How Is It Calculated?"},"content":{"rendered":"<p>Getting bikes on EMI is often hyped up to be easy. However, the real cost is seen only after the purchase. Most bike advertisements, on TV, in print or even on social media, are rife with claims of 0% interest, and low maintenance costs. But the real cost of owning a bike goes far beyond those claims and deep into your wallet. To help you kick off your dream of owning a snazzy bike, let&#8217;s walk you through what the total cost of ownership for bikes means.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-1074\" src=\"https:\/\/www.rentomojo.com\/blog\/wp-content\/uploads\/2018\/03\/Bike-Infograph.png\" loading=\"lazy\" alt=\"\" width=\"800\" height=\"3133\" srcset=\"https:\/\/www.rentomojo.com\/blog\/wp-content\/uploads\/2018\/03\/Bike-Infograph.png 800w, https:\/\/www.rentomojo.com\/blog\/wp-content\/uploads\/2018\/03\/Bike-Infograph-768x3008.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_68_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #302d55;color:#302d55\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #302d55;color:#302d55\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#What_is_the_Total_Cost_of_Ownership_or_TCO\" title=\"What is the Total Cost of Ownership or TCO?\u00a0\">What is the Total Cost of Ownership or TCO?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#Factors_to_Determine_Motorcycle_Cost_of_Ownership\" title=\"Factors to Determine Motorcycle Cost of Ownership\">Factors to Determine Motorcycle Cost of Ownership<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#1_Insurance\" title=\"1. Insurance\">1. Insurance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#2_Maintenance\" title=\"2. Maintenance\">2. Maintenance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#3_Moving_Your_Bike\" title=\"3. Moving Your Bike\">3. Moving Your Bike<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#4_RTO_Charges\" title=\"4. RTO Charges\">4. RTO Charges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#5_Depreciation\" title=\"5. Depreciation\">5. Depreciation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#Total_Cost_of_Ownership_In_a_Nutshell\" title=\"Total Cost of Ownership: In a Nutshell\">Total Cost of Ownership: In a Nutshell<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"#\" data-href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_Total_Cost_of_Ownership_or_TCO\"><\/span><strong>What is the Total Cost of Ownership or TCO?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The total cost of ownership (TCO) for motorcycles refers to the total financial burden of owning a motorcycle throughout your ownership period. It goes beyond the initial purchase price and considers all the ongoing expenses associated with keeping it on the road. So, besides the initial cost, ongoing expenses like fuel, maintenance, insurance, and timely servicing significantly contribute to the total expenditure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Factors_to_Determine_Motorcycle_Cost_of_Ownership\"><\/span>Factors to Determine Motorcycle Cost of Ownership<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Post-purchase expenses of owning a bike include undergoing hassle-some procedures such as relocation and RTO registration, and regular maintenance and insurance charges. The total cost of ownership for a bike is calculated after factoring in these expenses, along with depreciation over a specific period.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"1_Insurance\"><\/span>1. Insurance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bike insurance can be tricky. Firstly, you\u2019ll need to understand the type of coverage each insurance plan offers. Since some insurance types do not factor in depreciation, they tend to cost significantly more. The insurance costs can range between Rs.900\/year for third-party insurance to Rs.2,100\/year for zero depreciation insurance. On average, standard bike insurance plans come up to Rs.1750\/year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_Maintenance\"><\/span>2. Maintenance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Here\u2019s a biggie! We all know that vehicle maintenance can be quite a pain to the pocket. A typical bike needs servicing every 100 days or 3000 km, whichever is earlier. The total maintenance cost for a Honda Activa, for instance, comes up to Rs.0.52\/km for 4 years, a reasonably conservative period to expect one to own the bike for. As you keep adding more distance and time to the bike, the cost of maintenance keeps going up. While this example is true for new bikes, this cost can be even higher for second-hand bikes, depending on how old the bike is or how many kilometres it has travelled.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_Moving_Your_Bike\"><\/span>3. Moving Your Bike<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Packers and movers are a highly unorganized sector, with price variance being extremely large, and multiple factors such as demand and location contributing to the total price the customer eventually pays. You can choose between cargo truck shipment or train shipment. Train shipments usually cost much lower, at about Rs.2,000 &#8211; Rs.4,000 between, say Pune and Hyderabad. However, train shipments are also unreliable, with few measures to ensure your bikes\u2019 safety. On the other hand, cargo truck shipment of your bike comes at a premium cost. Depending on the year of manufacturing and the cost of your bike, shipping your bike from Pune to Hyderabad can cost between Rs.4,000 and Rs.8,000 (including taxes) and the shipping time usually ranges between 3 to 5 days, basis the distance.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"4_RTO_Charges\"><\/span>4. RTO Charges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Once you\u2019ve bought a bike, you also need clearances from the Regional Transport Office in your city. The charges for a scooter (like Honda Activa) and hybrid (like Honda Navi) are around Rs.6,100. This cost more than double, at around Rs.13,000 for motorcycles. Also, this excludes the hassle you face with registrations and shifting the said registration when you move cities.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Depreciation\"><\/span>5. Depreciation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Vehicles are one of the fastest-depreciating assets. Most bikes already lose 10-15% of their value the minute they leave the showroom. After that, expect a 10% depreciation each year for 5 years.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Total_Cost_of_Ownership_In_a_Nutshell\"><\/span>Total Cost of Ownership: In a Nutshell<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The 5-year cost of owning a new bike is usually between 1.5X to 2X the bike\u2019s ex-showroom price, excluding any relocation expenses or any upgrades that you make to your bike. With RentoMojo, your total cost of ownership is completely redefined.<\/p>\n<p>Firstly, our bikes are completely insured with a zero depreciation cover plan. This means you do not have to insure the bike separately. Secondly, we also provide free maintenance for each vehicle, further reducing your costs. Moreover, when you move cities, instead of incurring the complete cost of shifting both the vehicle and the registration to another city, we provide you with the same vehicle at your destination. This not only saves you time and hassle but also prevents potential damages that can occur to a vehicle in transit.<\/p>\n<p>Lastly, since you do not have to worry about reselling the bike, its depreciated value does not affect your wallet, ensuring that the total cost of owning a bike with <a href=\"https:\/\/www.rentomojo.com\/\">RentoMojo<\/a> stays low and extremely affordable.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>1. What is TCO in bikes?<br \/>\n<\/strong>TCO, or Total Cost of Ownership, in bikes, refers to the complete cost of owning a motorcycle over its entire lifespan, including the purchase price, maintenance, insurance, fuel, and depreciation. Understanding the cost of motorcycle ownership helps buyers make informed decisions by evaluating the long-term financial commitment of owning a bike.<strong><br \/>\n<\/strong><\/p>\n<p><strong>2. How do you calculate the total cost of ownership?<br \/>\n<\/strong>To calculate the total cost of ownership, add the purchase price of the asset to all operating expenses and maintenance costs over its useful life. This includes costs such as fuel, insurance, repairs, and depreciation.<\/p>\n<p><strong>3. What is the cost of running a bike?\u00a0<\/strong><br \/>\nThe cost of running a bike in India typically includes fuel expenses, regular maintenance, insurance, and occasional repairs, averaging between \u20b91,500 to \u20b93,000 per month depending on the bike&#8217;s make and model. Additional costs such as parking fees, tolls, and periodic upgrades can also contribute to the overall expenses.<\/p>\n<p><strong>4. How much does bike maintenance cost per year?<br \/>\n<\/strong>The annual cost of bike maintenance in India typically ranges from \u20b93,000 to \u20b910,000, depending on the bike model and usage. Regular servicing, oil changes, and part replacements are key factors influencing these costs.<strong><br \/>\n<\/strong><\/p>\n<p><strong>5. What is the bike maintenance cost per month?\u00a0<\/strong><\/p>\n<p>The bike maintenance cost per month typically ranges from \u20b9500 to \u20b92000, depending on the model and usage. Regular servicing, oil changes, and occasional part replacements contribute to this cost.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Getting bikes on EMI is often hyped up to be easy. However, the real cost is seen only after the purchase. Most bike advertisements, on&#8230;<\/p>\n","protected":false},"author":9,"featured_media":1090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false},"categories":[270],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.2 (Yoast SEO v21.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Think Buying a Bike is Cheap? Here&#039;s the Real Cost Breakdown!<\/title>\n<meta name=\"description\" content=\"Are you buying your dream bike soon? Then you should know what the total cost of ownership for bikes means. Also, let&#039;s find out the factors!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Total Cost of Ownership for Bikes: What Is TCO &amp; How Is It Calculated?\" \/>\n<meta property=\"og:description\" content=\"Are you buying your dream bike soon? Then you should know what the total cost of ownership for bikes means. Also, let&#039;s find out the factors!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/\" \/>\n<meta property=\"og:site_name\" content=\"RentoMojo\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/rentomojo\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-29T11:54:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-23T06:51:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentomojo.com\/blog\/wp-content\/uploads\/2018\/03\/bike-cost-of-ownership.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nishtha Kaushik\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@rentomojo\" \/>\n<meta name=\"twitter:site\" content=\"@rentomojo\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nishtha Kaushik\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/\"},\"author\":{\"name\":\"Nishtha Kaushik\",\"@id\":\"https:\/\/www.rentomojo.com\/blog\/#\/schema\/person\/8a8ce996abcf7037c350edcdbb103505\"},\"headline\":\"Total Cost of Ownership for Bikes: What Is TCO &#038; How Is It Calculated?\",\"datePublished\":\"2018-03-29T11:54:28+00:00\",\"dateModified\":\"2024-07-23T06:51:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/\"},\"wordCount\":1027,\"commentCount\":3,\"publisher\":{\"@id\":\"https:\/\/www.rentomojo.com\/blog\/#organization\"},\"articleSection\":[\"Money Matters\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/\",\"url\":\"https:\/\/www.rentomojo.com\/blog\/total-cost-of-ownership-bikes\/\",\"name\":\"Think Buying a Bike is Cheap? 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