Motorcycle Finance to Meet Its Prevailing Craze among Motorcyclist
Biking culture is spreading all across the European world. This progression has been increasing for the past two decades. Motorcyclists generally make at least one motorcycle trip in their NTS (National Travel Survey) memoir as either a driver or a passenger.
NTS conducts surveys collectively on how, why, when, and where people travel in a particular year. It was designed to measure household journey and to monitor its long-term fashion in personal travel. It is formable to policy development.
According to a survey conducted in England, around 90% of motorcycle trips had been made. Almost all men were involved in covering the distance. About 1.25 million motorcycles were registered in Great Britain by the end of 2019.
Generally, biking is famous in the western population, especially in dense urban regions and overhauling neighbourhoods and universities/colleges.
In recent years, we get from the NTS diary that intimately 400 trips have been organised per year, which means 8 trips in a week. Besides, motorcyclists used motorcycles for around 41% of the total distance they travelled.
However, these figures may fluctuate year by year and, of course, as per the brands’ trends and best in demand for the maximum distance travelled.
Through this blog, I shall be measuring the craze for biking among people of all ages and highlighting the significance of finance in owning a Motorcycle.
Who uses motorcycles the most?
Answering this question can vary from person to person because men often use motorcycles more than women do.
- Most men do 90% of motorcycle trips.
- Men travelled a higher average mileage per motorcyclist over the same period.
- Men averaged around 4,380 miles in the comparison of women that cover 2,740 miles.
Why are males ahead in this?
Men are more adventurous in biking as they see it more convenient regardless of other transport sources since it is more likely to reach anywhere in less time.
Male motorcyclists between the age of 17-20 and 21-29 are the most frequent bikers. Those between 30-39 and 40-49 have ridden the highest average distance, around 4800 miles per motorcyclist per year.
This shows that men aged 30 make maximum trips and cover around 70% of the total motorcycle distance.
When are motorcycles used?
Motorcycle has many uses, so it is hard to mention its one advantage. It allows a single person to reach the destination of his personal interest in little time.
A higher number of two-wheelers purchases can be seen in May and June. August covers the lowest figure in their purchase because many people are away on holiday abroad. Hence, lesser trips are recorded in the National Travel Survey across all modes of transport.
Uses of motorcycle
For the last two decades, motorbikes have been used for commuting and other business purposes.
Later, their utilisation is expanded to many domestic and regional errands such as Day trips and holidays, visiting friends and other social activities, shopping, and educational, including escorting and personal business.
Usage in metropolitan cities, towns, and villages
London, where travelling distance is not much, and we find that people make more trips despite stoppages at every point, there motorcycles’ density is at heaving.
Whereas in small towns and especially villages where travelling space is comparatively greater, we see that on average, the population covers around 5000 miles per year, which passes the urban area by 1000 miles.
Analysis of broadly used motorcycles
Seldom, people tend to look for large motorcycles to travel large distances and small for small extensions. NTS asks the motorbike owners to manage the engine capacity and to estimate total annual mileage.
Till the last decade, around more than half of the per cent motorbikes were 500 cc, and only about 10% were 50 cc or less. Motorbikes with larger engine capacity use to run over 4000 miles a year, compared to 2600 miles for the smaller one.
Role of infrastructure in motorbikes
However, motorbike culture may seem unallied with the country’s improving infrastructure, but the fact is that they are kindred. The infrastructure allows by supplying motorbikes to reduce the barriers of inconvenient routes and possible threats to personal safety.
Though lacking in strong ridership, it becomes difficult for the authorities to justify motorbiking expenditure. A growing infrastructure can uphold the correct form of motorbiking culture.
How enthusiasm works in this field
Even though many automobile companies organize motorbiking events, an educational and visionary move will significantly impact this direction.
Motorbiking events can trigger the encouragement for its purchase and boost bikers’ confidence to part in the competitions.
It will also be helpful for the infrastructure to promote their investments in this field.
Financial performance
A person interested in becoming a biker and registers his name in the NTS diary should purchase a bike of his dream. If he feels inconvenience in this, he should look at the loan provider, which is laid to harness his dream.
The allocation of 12 months payday loans is for those needy. This loan works on an instalment basis means that every month your salary will deduct on the given date. Therefore, you do not need to stand in the queue to deposit repayment.
In addition, for those who have no idea where to approach to attain these loans, the next key is more convenient because doorstep loan facilities are also available.
Do not forget these finance relates only a few branded motorbikes, but it does not mean that all are inapproachable.
Inference
The number of people, it does not matter with age, wishes to own a motorbike. It is because they find it more accessible, comfortable for single or two riders, easy to accommodate, dwells economic service charges and pocket-friendly, and of course, to explore the world with their own eyes.
What prevents you from bringing a brand new motorbike to your life? Just use the finance and go for it…
Ailsa Adam is the Editor-in-Chief and former content head at Hugeloanlender. She has been a valuable member of the content strategy team since 2017 due to her abundant experience in the finance sector. Passionate about helping individuals navigate the world of loans and personal finance, she has dedicated herself to acquiring extensive knowledge on various financial products. Before her role at Hugeloanlender,
Ailsa worked as a seasoned journalist and writer, specialising in creating informative blogs and articles on diverse loan types. She is known for her meticulous research and commitment to delivering accurate and engaging content. She holds a degree in MBA Finance and has a keen interest in creative writing and art.
