Why Two Wheeler Loans Is The Smarter Way of Financing?

After selecting the model of the two-wheeler that you want to buy from many options available, the next thing you need to determine is how to finance that bike. There are two prominent options available when it comes down to it. You can either choose to pay cash or avail a vehicle loan. Let’s consider why availing a Two wheeler loan is the smarter way of financing

Additional Offers

You can get various gifts and offers like:

  • Cashback
  • Reduced interest rates
  • Zero down payment schemes
  • Free gifts

Quick Paperwork

Most bike sellers on the market today are in partnership with bike finance companies to provide rapid loans to customers. The paperwork required for these loans is minimal, and the processing time is extremely small. 

Down payment

Incase of cash-crunch, you don’t have to worry as the minimum down payment for bikes is very low. Some financers allow zero down payment facilities

Improve Credit Score

Opting for easy to repay loans help you to improve your CIBIL score.

Upgrade your bike’s model

Availing a loan can help you to buy a better, more advanced bike than before. 

So, instead of opting to pay cash during your bike purchase, it might be smarter to take a loan.

Additionally, Read:-

Here is the all Requirement to apply for Two Wheeler Loan

Top 6 Advantages Of Availing A Bike Loan As Opposed To Buying A Bike In Cash

Whether you’re getting your first bike or looking forward to upgrading to the latest version, buying a motorcycle is always exciting. While deciding which bike to buy is challenging, it is even more challenging to determine whether to get your bike through cash or bike loan. Here is a list of advantages of using a loan for a bike loan instead of buying a bike by paying money.

  • Affordable Interest Rates

Highly affordable and low bike loan interest rates make buying bikes easy.

  • Quick loan approval and processing 

Quick loan approval and processing that makes sure you’re able to take your bike home at the soonest.

  • Budget-Friendly

You don’t have to empty your pockets and ruin your budget. Instead, you can transfer the burden on the banks and pay convenient EMIs.

  • Complete Coverage 

You can avail of a loan on your two-wheeler’s on-road cost, which provides complete coverage of the loan amount.

  • Loans on all two-wheelers

Be it a scooter or a high-end bike, and loans are available on all types of two-wheelers. You can calculate loan EMI with Bike EMI calculator.

  • Additional benefits

You can avail of a bike loan with various additional bonuses like gifts, free insurance, accessories, cashback offers, etc.

While there was a time when cash was the preferred mode of transactions. However, various benefits availing a two-wheeler loan have over getting it for cash makes the former a better option in many ways.

Additionally, Read:

5 Factors To Keep in Mind When Taking a Bike Loan

Top Reasons Why You Should Buy KTM Duke 200

KTM is one of the top-end bike manufacturers that specializes in powerful sports bikes. These bikes come with the latest technology, mechanical systems, and robust features, making it quite popular amongst sports bike enthusiasts.

If you’re looking for KTM bikes in India, you must consider KTM Duke 200 for its powerful performance. Here are its top features.

  • Duke 200 has a lightweight trellis frame that enables the bike to reach 100 kmph within seconds and a top speed of 136 kmph.
  • It has a 1-cylinder with a 4-stroke engine and 6-speed transmission with 19 kW power.
  • This bike has a powerful disc braking system for both the tires with a four-piston radial fixed caliper supported by ABS.
  • It also has a cool-liquid mechanism to avoid overheating of the bike.
  • It comes in an affordable price range of 1.5 to 1.62 lakhs INR in the sports bike segment. You can also browse the latest KTM bikes price list.
  • Efficient customer support and service centers in all the major cities.
  • MRF Revz tires to provide finer grip.
  • It has a ground clearance of 170 mm and a sturdy suspension suitable for Indian roads.

KTM 200 is a powerful, affordable, and trendy sports bike which guarantees pace and performance within your budget. However, you must go through the rider’s manual and safety instructions and follow traffic guidelines to ensure that you can enjoy this stunning bike without any unwanted accidents.

Also, Read:-

KTM Duke 390 – 5 Best Things That You Should Know

Bajaj Maxima – Everything You Need To Know

You can consider Maxima C from Bajaj as the go-to cargo carrier, especially for last-mile fulfillment. Besides being affordable, the Maxima C is extremely easy to procure and comes across with a host of productivity-enhancing features.

  1. Availability

The Bajaj Maxima  is available either as a CNG variant or a Diesel-powered model. While the CNG version is eco-friendly courtesy of the BS6 powertrain, the engine featured by the diesel-run variant is a better choice for the hillier terrains. Regardless of choice, the Maxima is easier to purchase with a three-wheeler loan. 

  1. Technical Specs

In case you want to invest in the Bajaj Maxima, you need to understand the technical aspects of the same, including the plus one individual seating capacity, 12aH battery module, and a decent ground clearance of 193mm. Besides, you get a single plate dry clutch on the diesel variant followed by an RH, foot-operated brake. 

  1. Mileage

The Maxima boasts of a decent mileage of 35kmpl for the diesel variant. This feature makes it a pretty good choice for deliveries.

  1. Finance Option

The Maxima is easier to purchase with a Three wheeler loan. You can get the loan facility from the Bajaj Auto Finance at the lowest interest rates.

To sum it up, Maxima from Bajaj is quite an affordable cargo vehicle, currently preferred by most fulfillment firms, owing to lower maintenance and quickest possible loan approvals. To get the instant approval keep all the documents ready and build a good credit score, after that apply for a loan and get instant approval on loans.

Here’s How a Two Wheeler Loan Helps you Purchase the Dream Bike

More often than not, there is a glaring difference between the bike you ride and the bike you want. A Two-Wheeler loan can readily fill up this gap by offering the needed financial support to help you purchase the vehicle of your dreams. 

Here are some of the best and most productive ways by which a 2 Wheeler Loan empowers you towards the bike that you have always desired:

  1. Easy Repayment Schemes

Bike loans can be repaid as monthly EMIs. This ensures a state of financial well-being whilst allowing you to save the cash reserves for an emergency. For someone looking to buy a pricey back without financial support, paying the entire sum at once is often next to impossible.

  1. Better Payment Restructuring

Every lender offers a Two Wheeler loan EMI calculator. Once you have an idea of the interest rates, you can calculate the monthly payments as per your preferences. You can restructure the total payable amount in any manner you like by modifying the tenure. 

  1. Easy to Apply

A two-wheeler loan is probably the easiest to apply for. Besides, if your credit score or profile is sound enough and all the documents are in place, you might even be eligible for instant approvals. 

The bike loan flexibilities mentioned above ensure that you can easily get hold of a dream Two-wheeler without having to worry about the price tag.

5 Reasons to Apply for a Loan while Purchasing a Bike

Are you interested in purchasing a new bike? If yes, it is advisable to apply for a two-wheeler loan from credible banks or NBFCs. Although you can take any preferred application route, going online is probably the fastest way of getting approved.

All things aside, here are some of the primary reasons for getting hold of a bike loan to purchase a new vehicle instead of extinguishing your savings:

  1. Periodic Payments

A Two-wheeler loan is easy to pay off, courtesy of the systematic payment structure. This ensures that your short-term goals aren’t compromised while purchasing a new bike.

  1. Better Credit Profile

While you might be tempted to pay off the entire amount at once, a loan helps build your credit profile for the future, thereby increasing your eligibility for personal, car, or even home loans. 

  1. Better Usage of Cash Reserves

If you are worried that a loan might cost you more in the long run, compare and opt for the lowest bike loan interest rates and invest the cash reserves someplace else to get the same or better rates. This approach takes care of the additional payment and helps you plan better in the long run.

  1. Financial Discipline

Recurring monthly payments ensure that you keep up with the financial cycle and learn about the importance of keeping adequate funds in the account.

  1.  Better Buying Options 

If you are on-board with a loan, you can always opt for a better bike as periodic payments wouldn’t overburden you financially.

Paying the bike value upfront is not a bad option at all. However, these reasons ensure that your finances are managed better.  

Additionally, Read:- 

A Complete Guide to Understand Bike Loan Interest Calculation

What Documents Are Required for a Two Wheeler Loan

Bajaj has made it possible for everyone to own their dream bike. With their low-interest loans, anyone can have a bike they want or need. With the rise of the motorcycling culture in India, the lenders should also keep pace as the price of an average bike has now gone up. With foreign brands investing heavily in India, finance companies have got a great future to look ahead to. Nowadays, finance companies offer Two wheeler loan at the lowest interest rates to buy a vehicle.

Here is what you need for applying for a two-wheeler loan –

Eligibility

  • Should be at least 21 years of age

Or 

  • Less than or equal to 65 years at the maturity of the loan
  • Have had a residential address in the city for at least 1 year
  • Salary slips for 1 year must be there
  • Must have a postpaid connection

The documents required for a two-wheeler loan are-

For a Salaried Person

ID Proof – This can be 

  • Passport
  • Pan Card
  • Credit Card with photo
  • Driver’s License
  • Voter ID
  • Aadhaar Card

Address proof – 

  • Passport
  • Driver’s License
  • Voter ID card
  • Utility Bill
  • Aadhaar Card
  • Bank Account
  • Last 3 months salary slips 
  • Form 16
  • Last 3 months bank Statement

For Self Employed People

ID Proof – This can be

Two Recent Passport size photos

Address Proof – This can be 

  • Passport
  • Driver’s License
  • Utility Bill
  • Voter ID card
  • Bank Account Statement
  • Aadhaar Card

Latest Income Tax Return

Last 3 months bank statement

Always use a bike loan calculator to tally your calculation against that of the lender and choose a tenure and EMI that would suit you.

For an online EMI calculator you can use simple steps like select your Loan Amount, Interest Rates and Loan Tenure and get the results in the form of payable EMI’s with interest rates.

Factors To Consider While Comparing Two Wheeler Loan

India is the largest market for two-wheeler automobiles. Recent trends have suggested that more and more people are buying bikes and scooters to commute to work. This is because of the ease of access and how efficient it is to travel on two-wheelers. 

The variety offered is also amazing as now there is a bike available at every price point for every segment and most of the financial institutions offer loans at the lowest interest rates to purchase a bike, that’s why Nowadays, most of the people prefer Two wheeler loan to buy a bike.

Gone are the days when your only choices were a Bajaj Pulsar or a Royal Enfield. Today the KTM and Triumph dominate the market with a stronghold. Despite the growing craze, these machines are costly investments in the future. 

If you want to avail a two-wheeler loan here are the factors that you should keep in mind – 

  • Principal Amount
  • Age
  • Tenure of the Loan
  • Credit Score
  • Financial Statement
  • Type of Employment
  • Current Income
  • Existing Liabilities
  • Repayment Schedule 

Use an online Two wheeler loan calculator to estimate how long your tenure will be with the EMIs you select. To calculate the loan amount you will need

  1. The loan amount that the bank approves. This is denoted by P
  2.  The interest rate that the bank or lender is charging. It is  denoted by a percentage and is compounded annually.
  3. The number of months or years that the loan will be granted for. This is also known as the tenure of the term. It is denoted by N

Bajaj Finance Two Wheeler loans will make your dreams come true with their easily approved and low-interest loans. 

Top 10 Best Bikes for College Students under Rs. 2 Lakh

College is the best phase of one’s life where you explore new places, go on new adventures and gain new experiences. And do you know what paves the way for all this and be with you all the time? It’s your bike. It becomes more than a friend and makes the best experiences a memorable part of your life. To enjoy your college life, you need a bike that is a beast in performance, a warrior in look and an angel of comfort. Here is a list most cool bikes under 2 lakhs o make your college life a fun-filled one.

  • KTM 250 Duke
  • KTM RC 200
  • Bajaj Dominar 400
  • Royal Enfield Thunderbird 350X
  • Bajaj pulsar Ns200
  • Royal Enfield Classic 350
  • Yamaha YZF R15 V3.0
  • Suzuki Gixxer SF
  • Yamaha FZ-S FI V3.0
  • TVS Apache RTR 160 4V

KTM 250 Duke

KTM is something that is always occupying a special place in the minds of modern-day youngsters. KTM Duke 250 comes with a 248.8 CC liquid-cooled engine delivering 29.5 bhp and 24nm torque. It also has a dual-channel ABS and USD open cartridge in the front and a mono-shock suspension at the rear. This bike gives you confident handling. The KTM prices in India are lower compared to other places.

Bajaj dominar 400

It is one of the most powerful bikes in this category. The latest updates have a USD fork in the front instead of the telescopic models of the previous models. It is a 373.3 cc bike and gives 39bhp and 35nm torque.

Bottom line

Now you need not worry about the budget because you get the best bike easily with a bike loan. The bike loans are easy to avail and give a lot of customised options. You just need to find the perfect loan for you.

Additionally, Read:- 

A Complete Guide to Choosing The Best Two Wheeler Loan

Which is the best bike, Pulsar 150 or Pulsar 180?

If you want an affordable bike in the crowded 150-180cc segment, then the Pulsar 150 is one that gives a high competition to other bikes. Its affordable price tag, really good mileage, as well as its low maintenance costs, put the Pulsar in a league apart. 

To sum it up, if you have to buy a bike on a tighter budget we suggest that you go for the Pulsar 150 but if you have some cash to spare the Pulsar 180 is completely worth your while. The best thing is the Finance option available for both. You can Apply for Two Wheeler Loan at the lowest interest rates.

The Pulsar 180 comes with a 178 cc single cylinder engine and Pulsar 150 comes with a 149.5 cc engine. Both engines are mated with a 5-speed gearbox and have an expected mileage of around 45 Km to the litre.
In terms of visuals, Bajaj Pulsar 180 available in several eye-catching colors combinations. On the other hand Pulsar 150 looks have mostly stayed unchanged over the years, available in black, black grey, Neon silver and many more.