Category: bike loan

There are many benefits of taking a fresh credit line for purchasing a new bike. Here are the six essential reasons why a two-wheeler loan is a better bet as compared to an upfront cash payment.

Zero Financial Burdens

A bike loan allows you to save the hard-earned money and segregate the borrowed amount into easy installments, which doesn’t burden you, financially.

Quicker Approvals

While cash payment is quick, a bike loan is easy to get approved in almost no time, provided your credit score is on point.

Better Bike Selections

While your cash reserves might be limited, getting a credit line allows you to focus on a bigger and better bike, as you can pay up the sum in easy installments.

Competitive Interest Rates

Almost every lender offers decent bike loan interest rates which keep the EMIs within the affordable limits

Covers almost any Bike

Credible lenders do not discriminate but offer credit lines on any given bike, provided you are eligible

Additional Perks

Certain financial forms offer accidental coverage or complimentary insurance with a two-wheeler loan. 

Each of the 6 benefits needs to be considered before you can even plan on purchasing a new bike. 

Must Read:

How To Get The Best Two Wheeler Loan Interest Rates

Purchasing the preferred two-wheeler on a loan can be tricky if you aren’t sure about the lender and the quoted interest rates. Therefore, it is necessary to be aware of these 4 factors to get the best interest rates on your credit line.

1. Credit History

Lenders instill faith in your repayment history upon checking your credit score. Therefore, a higher credit score automatically qualifies you for a lower two wheeler loan interest rate.

2. Cost of the Bike

A two-wheeler loan for a budget-centric bike has better chances of getting approved and attracting nominal interest rates.

3. Down Payment

In case you choose to make sizable payment upfront, it is possible to get a better deal on the two wheeler loan interest rate as the lenders are expected to show more faith in your repayment capabilities.

4. Loan Tenure

If you want to procure a lower interest rate for your two-wheeler loan, you should opt for a longer tenure and consider prepaying the same after a certain point in time. 

In addition to these four factors, your job, financial stead, annual income, and credit history also have a bearing on the interest rates. 

Must Read:-

6 Benefits of Two Wheeler Loans That You Didn’t Know

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

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.

2. 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. 

3. 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.

When one thinks of two-wheelers more often than not, they are thinking of either bikes or scooters. Newly purchased two-wheelers can last up to 1 lakh kilometers or even more depending on how you take care of them. With the right two-wheeler, you will have the added convenience of swerving through traffic at any time, whether it be to reach work or go out to any destination you feel like. With the independence that one gets with a vehicle, it is easy to have more adventures. 

But many times, these dreams are held back by monetary constraints. Whether it be a lack of funds or anything money related, companies like Bajaj are there to help you out. We provide an Online Two Wheeler Loan at the lowest-interest rates so that your dreams can come true too. Many companies have a long and complicated loan disbursal, but Bajaj has been rectified so that you can have a secure loan experience.

Important things to consider when choosing loan:-

• Loan Amount
• Interest Rates
• EMI
• Loan Tenure
• Eligibility Criteria
• Required Documents

Also, Read:-

5 Reasons To Avail A Bike Loan Instead Of Cash Payment

The Two wheeler vehicle is the best mode of transportation. Nowadays, for Two wheeler vehicles purchase most of the people prefered Two wheeler loan instead of one time cash payment. Here are some important things to consider before availing a two-wheeler loan : –

• Eligibility criteria
• The maximum loan amount offered
• Repayment Options
• Check the loan disbursal time
• Keep a note of the specialized schemes

Before applying a loan check loan amount, interest rates and loan tenure and keep your documents ready. With Bike EMI Calculator you can easily calculate your bike loan EMI , this is the most important thing for loan.