Why Two Wheeler Loan Is The Smarter Way of Financing

KTM Duke 250

Two-wheelers are gaining popularity nowadays. The demand is steeply rising due to the increase in traffic. People prefer to have a bike of their own rather than spending hours on public transport. Two-wheeler sales are increasing as women commuters are also increasing day by day.

People choose to commute by two-wheelers for short distances because bikes are fuel-efficient and occupy less parking space. In most Indian households, spending half of the salary for buying a two-wheeler disrupts the monthly budget. So, when you want to get a new bike, 2 Wheeler Loan is the most effective way.

The loan is a smarter way of purchasing a bike because it lets you repay the total amount in reasonable EMIs. Paying EMIs makes much more sense because you are able to divide the burden and pay smaller amounts on a monthly basis. 

What are the reasons for which you might need to take a Two wheeler loan?

There are many reasons why you might need to avail a loan for getting a new ride. 

  • Your old vehicle might break, and you need a ride urgently. 
  • You might want to upgrade your bike to a better and more advanced model.
  • You want to get your first motorbike, and you don’t have sufficient funds.

Whatever the reasons might be, it is not necessary that you have the availability of funds that you need to get home that bike. However, the availability of finance in the form of loans makes sure that you don’t have to wait till you save enough money, which might take months at times if you are looking for a premium bike.

In case you are still wondering why taking a two-wheeler loan is a better way of financing, look at the points mentioned below.

Why choose a Two-wheeler loan over paying by cash?

  • No initial investment is needed.

Various zero down-payment schemes make sure that you are able to get a two-wheeler even when you don’t have any money. All you need to have is a good credit rating and a decent bank statement to avail of a two-wheeler loan.

  • Spread the payment of burden

Payments can be made in small EMIs spread over months. This system allows you to shift the burden and keep the cash handy for any contingencies or other needs.

  • Get a better model of two-wheeler

There are chances that when you go to the showroom to get home a new ride, you might want to purchase a better version. In such a case, having a low amount of cash can be a challenge. However, two-wheeler loans make sure that you don’t have to compromise.

  • Helps improve your credit or CIBIL score

A two-wheeler loan is the best way to improve your credit history. Once you start paying your EMIs on time, your credit ratings will improve. And it is needless to mention that good credit scores will help you to avail more loans in the time of need.

  • Additional offers and discounts

There is a cut-throat competition in the market of two-wheeler loans. Because of this competition, the loan providers are coming out with various additional discounts, gifts, cashback offers, etc. to attract more customers. You can avail of these benefits only by availing of a loan.

In a nutshell

Two-wheelers are the most convenient and quick mode of transport in today’s busy roads. However, buying a two-wheeler might not be as convenient as you might think. While whatever might be the reason behind that, a two-wheeler loan reason will always come to your rescue. Additionally, all these benefits of availing a two-wheeler loan make this a better choice over paying through cash. Also, in order to check how much installment you will have to pay after you purchase a bike, you can check a Bike Loan EMI Calculator available at various websites online.


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