Are you planning to buy a dream bike, but you do not know how to finance it? A two-wheeler loan can help you get rid of your worries. Due to the financial instability caused by the current pandemic, not everyone can afford to buy a two-wheeler without redeeming their savings or investments. However, you can get a loan to buy your dream bike and yet be able to manage your finances without putting any burden on your pocket.
If you wish to take a two wheeler loans, apply online through your lender’s website. The benefit of two-wheeler finance is that you can get up to 100% of your bike’s value as a loan. You can repay your loan with affordable interest rates and flexible loan tenures.
How to buy your dream bike?
Here are some of the tips to buy a two-wheeler that best serves your needs and preferences:
- Decide the type of two-wheeler you want
Before making a decision, it would be wise to assess your needs and then choose a two-wheeler that fits your budget and needs. There are several options available in the market. You can get a scooter or bike depending on your needs. A scooter is easy to ride around the city, but if you are an enthusiast, you may want to buy a bike that comes with robust performance, enough storage, stability, control, etc.
- Create a budget
Whether you can buy your bike or not depends on your budget. Two-wheelers usually start from Rs. 40,000/- and can go up to Rs. 10 lakhs depending on the model and brand, and of course, your need. If you want a bike for your daily commute, choose a bike within your range. But, if you are looking for a high-end bike, you may need to apply for two-wheeler finance. You can repay your loan with affordable EMIs, without constraining your monthly budget.
- Choose a fuel-efficient two-wheeler
Before getting your two-wheeler, make sure to check its fuel efficiency. The benefit of getting a high mileage two-wheeler is that it can significantly reduce your monthly expenses by cutting down your fuel bills. You can calculate your bike’s mileage by getting to know the average distance it can cover with one letter of fuel.
- Look for reviews
If you are applying for a bike for the first time, make sure to check for reviews from other bike enthusiasts who have used your preferred bike in the past. Online reviews and testimonials offer great insight into the features and benefits, such as mileage, on-road performance, fuel efficiency, engine performance, maintenance issues, etc.
- Cost of maintenance
You will need to give your bike for maintenance every now and then to maintain its condition. At times, it gets difficult to find a bike’s certain parts at nearby service ships. So, make sure to buy a bike whose parts and components are available in your nearby service shops. This way, you can reduce the cost of maintenance.
Getting a two-wheeler is the best way to navigate through heavy traffic and commute to work without exposing yourself to the deadly virus. If you are tight on budget, you can apply for two-wheeler finance or loan for used car to manage your finances well. To get a bike loan, apply online through your lender’s website and avail yourself of a hassle-free application process.