If you want to buy a two-wheeler vehicle but are concerned that you cannot afford the whole amount at once, you can consider availing a two-wheeler loan. If this is the first time that you are applying for a loan, here’s a complete guide to choosing the best.
Research– One of the most important things before applying for Two Wheeler loan is to do a thorough research. Check the various loan offers from different lenders and compare them based on factors like rate of interest, EMI, plan benefits, tenure etc.
Interest Rate- Different lenders offer different interest rates on two-wheeler loans. The interest remains constant throughout the year, but the amount increases. Hence, select the finance company that has the minimum interest rate.
Loan Repayment- The tenure of repayment and EMI varies for different loan plans. You can calculate it by using the Two wheeler loan EMI calculator. This will give you an idea about the amount of EMI that you need to repay.
Tenure of the Loan– There are many tenure options available on two-wheeler loan, starting from 12 months to 48 months depending on your loan repayment capacity. The tenure of the loan repayment can be adjusted according to the necessity.
Offers- During festivals and other occasions, finance companies provide some additional offers and attractive discounts on the loan like low-EMI, low rate of interest, flexible tenure etc. You can make the most out of such occasions to get a better deal. This will allow you to save money and you canalso buy your desired vehicle at the best price.
Hope these tips can help you find the best two-wheeler loan for your needs.
Bike riding is a passion for a lot of people. You should buy the best bike, which is reasonable as well as has the best features. Bajaj has launched some of the best bikes in this range. KTM 125 Dukeis one of the best bike models by Bajaj. Here are a few reasons why you should buy this bike-
This KTM bike offers excellent performance and exudes world-class style. It resembles its previous model KTM 200 Duke with similar panel design and has an iconic appearance. It is available in a combination of black and orange colours.
It is a 125CC bike that has 150 section rear tyre. Ithas a fuel tank capacity of approximately 10 litres.
Its liquid-cooled fuel engine makes it suitable for long rides. It is capable of churning out 14.5 HP at 9250 rpm and torque of 12 Nm at 8000 pm. The engine is paired with a six-speed gearbox. The bike is capable of reaching a maximum speed of 115 to 120 kmph.
It is an economical bike available at Rs 1.32 lakhs with the best features at a less price compared to other bikes in the same price range. This is one of the least in KTM bikes price list. You can also buy it at low-cost EMI through a two-wheeler loan. Look out for special discounts on special occasions.
If you are willing to invest in a good bike, which is trendy and has a contemporary design, then you must surely invest in KTM 125 Duke. You can buy this bike at your nearest Bajaj bike dealership.
With the start of 2021, here are a couple of sports bikes you might want to consider within a moderate range of Rs 1 lakh to Rs 2 lakh.
Bajaj Pulsar RS200
The Pulsar RS 200 comes with a BS6 engine producing 24.5 bhp spitting around 18.3-18.6 nm of torque. One of the entry-level supersport bajaj bikes, RS200 features an angular body with sharp body panels, twin projector headlamps and a dual-tone paint scheme.
The bike has several modern cruising features, such as dual-channel ABS for safety and reading out of information such as the fuel gauge and more. This bike is the definition of value for money as it is available for Rs Rs 1.51 lakh with all the lucrative features mentioned above.
KTM RC 200
The KTM RC 200 features a 199cc motor engine, making it one of India’s most potent 200cc bikes today. It is a power-packed monster in terms of performance along with dual-channel ABS for safety.
The look and design of this vehicle are very similar to other KTM bikes yet highly appealing. This bike again offers high value for money, coming in at around Rs 2 lakh.
Besides the two options mentioned above, you can also look out for Bajaj Pulsar 220F, Bajaj Pulsar NS200, KTM RC 125, KTM RC 390, etc. All these bikes offer robust riding experience on the road with high value for money.
When talking about day-to-day driving, eating food from the nearest mall or visiting a nearby city, two-wheelers are preferred mode of commutation for most people in India. However, you should ideally take a bike loan when purchasing a new two-wheeler instead of making cash payment upfront.
Advantages of a Bike Loan:-
For two-wheelers, lenders offer low-interest rates for ease to make significant transactions, and these can be calculated by bike loan EMI calculator. The final interest rate usually depends on the income source of the borrower, credit score, the two-wheeler price and demand variation.
Quick Approval of Loans
Quick clearance of two-wheeler loans means fast payment for your two-wheeler when you purchase the same on financing.
Reduce the Burden on Your Budget
Another advantage of bike loans is that you can conveniently save while repaying your loan via instalments.
High Coverage of Loan Amount
If you are on a low budget, you can easily buy a two-wheeler with a higher bike loan coverage. You can always calculate your interest rate in a bike loan EMI calculator and decide the sum you want to borrow.
The simple benefit is you do not have to spend large sums of capital, which affects your liquidity adversely. If you use cash rather than a bike loan, the liquidity will be affected adversely.
The RC 390 is an agile, fast, and sporty bike that’s perfect for country roads and the racetrack.
The KTM RC 390 bike has a new side-mount exhaust system and revised settings that allow it to produce 42.0 horsepower at 9900 rpm. The new slipper clutch allows optimum exploitation of the RC’s impressive cornering ability.
The reduction in trail combined with a steep 23.5-degree rake and short 52.8-inch wheelbase gives the RC 390 catlike reflexes to your handling. The beautiful machine weighs just 365 pounds, affordable compared to other KTM bikes, and delivers better performance.
The RC’s 320mm front disk, which is clamped by a strong radially-mounted four-piston calliper, allows the already lightweight RC to decelerate at a better rate than before.
The KTM RC 390 comes with wider mirrors, a thicker seat, and adjustable levers. The graphics are bolder, and the inclusion of an LED tail light makes the RC a more sustainable street bike.
As the KTM bikes price listindicates, KTM allows customisations with hop-up parts and kits to make it more suited for the street or the racetrack.
KTM’s RC series of bikes has remained true to its original design for six years, and an update was long due.
People buy bikes based on two significant factors — mileage and cost. They often compromise with the bike’s on-road cost but are more concerned about mileage. Mileage refers to the distance travelled by bike in one-litre petrol (kmpl). Ideally, your bike should offer good mileage and must be cost-effective in the long run.
Bajaj bikes are known to provide excellent mileage. Here are some hand-picked bikes from Bajaj offering the best mileage:
Bajaj Discover 125
This bike has a mileage of 82.4 kmpl. It boasts elegant and appealing features with a 124cc cylinder.
Needless to say, the RC 200 from KTM is one of the best sports bikes in the country, best known for the brilliant design, engine strength, and other impactful capabilities. In the subsequent sections, we shall enlist the hits and misses of this two-wheeler whilst justifying the purchase, either using a credit line or upfront cash payment.
Two-wheelers will play a major role in reviving the professional fortune in 2021, especially after the dismal 2020. However, going about purchasing a motorbike would require discretion and adherence to the following aspects:
Evaluate usage patterns
A bike buying guide is of no use if you aren’t aware of your preferences. For instance, your choice of a two-wheeler would vary if you are either a daily commuter or a typical highway hauler.
Zero in on the Budget
Provided you are planning to get a fresh credit line for your bike or interested in purchasing upon paying up the entire sum at once, it is still necessary to zero in on the budget-centric preferences and choose accordingly. In case you are opting for a loan, the budget helps you strategize better using a Two Wheeler Loan EMI Calculator.
Look for Reliable Lenders
While you can always sift through a detailed bike buying guide to choose vehicles according to design, seating preferences, mileage, and other factors, it is still important to opt for a reliable lender for getting the best interest rates on the bike loans.
Once these three aspects are out of the way, you can start analyzing the monthly liabilities upon relying on the lender-backed two-wheeler loan EMI calculator.
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.
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.
Cost of the Bike
A two-wheeler loan for a budget-centric bike has better chances of getting approved and attracting nominal interest rates.
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.
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.