A cheap pajamas suit, jeans and a cheap pair of socks could cost you $400,000, according to a new study.
The study, which surveyed 5,000 bikers in Bangkok and Klongkhaeng, Thailand, found that the average bike price was $400 a month, or $6,600 a year, according the Bangkok Post.
“It’s a little crazy, but there’s always going to be someone who is going to go out of their way to spend a lot,” said Anis Thaabrakkul, who heads up the Bangkok Bicycle Survey.
The survey also found that a whopping 60% of riders said they didn’t buy a bike because they could not afford it.
“Most of the people are spending the money on a new bike, because they think they’ll get better value for the money they spend,” he said.
Bike rental is expensive, too.
One in five bikers said they had a rental bike, according, and one in five said they spent at least $20,000 on a bike.
“That’s not the typical budget of people who are spending their money on bikes,” said Thaabsakul.
But if you don’t have a car or car insurance, you can get away with a bit less, he said, as long as you don, like, buy the bike from a real shop.
“You’re going to get more bang for your buck.
You’re going get the best bang for the buck.”
So what to do if you’re a biker and want to save a few bucks?
“It depends on what you’re looking for,” said Saeed Naderi, a consultant who writes about bike financing for the online business site Bikerentals.com.
“Some bikers would look for something that’s low-maintenance and cheap,” he added.
But for those with a budget, the cheaper option is to look for a bike that’s already out of the box.
That’s what the study showed, as well.
“Bike manufacturers are trying to sell bikes to the masses,” said Naderis, adding that this is why so many people are choosing to buy new bikes instead of renting ones.
“They know that the market for bikes is a little smaller,” he explained.
“But they’re doing everything they can to try to find a niche market and sell bikes for the right price.”
But some bikers are choosing not to buy bikes at all.
That means they’re not going to ride at all, Naderians said.
“People who ride their bikes to work, to school, to the mall and they just don’t,” he noted.
And those who bike just a little less, can find cheaper, but still comfortable, options in some cities.
“For a few thousand dollars a month it’s very affordable,” said Phunthai Boon, who bikes from her home in Phuket to the Thai capital Bangkok.
But don’t expect the average biker to be a minimalist.
“If you want to go somewhere and take your bike to a restaurant or something, you’re going have to think about it.
If you want a bicycle that’s going to have the comfort and the speed, then it’s going be very expensive,” she said.