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Motorcycle and car ownership are rapidly growing in the Global South. However, little research has been conducted to understand the factors influencing motorcycle ownership and whether they differ from those affecting car ownership. In this paper, we explore and explain the similarities and differences between the factors that influence the decision to own both types of private vehicles in Bogotá, Colombia. Using information from the 2019 Household Travel Survey and open land-use information of Bogotá, we formulate and estimate two independent discrete choice models for car ownership and motorcycle ownership. Our results indicate that the factors influencing the decision to own a car are indeed not the same as those influencing the decision to own a motorcycle. First, we found that sociodemographic variables do not keep the same sign, magnitude, or meaning in both types of ownership models. However, the main difference between the two specifications is associated with spatial-related (geographic) variables. Mixed land uses, density, and proximity to mass transit seems to affect car ownership, while living in the periphery of the city increases the likelihood of owning a motorcycle. Our findings provide evidence about a topic that is essential in transportation demand models for mobility plans, especially in the Global South. They also highlight the need for further research focusing on motorcycle ownership. • There is limited information for understanding motorcycle ownership in Global South. • Factors for motorcycle ownership are different to those explaining car ownership. • Living in the urban periphery of the city rises the utility of owning a motorcycle. • Motorcycle ownership seems to be related with mass transit quality of service. • Further research focusing on motorcycle ownership and policies should be made. [ABSTRACT FROM AUTHOR]