Here’s How You Can Pay a Minimal Down Payment for Your Dream Bike

The prices of motorcycles available in India have skyrocketed over the last few years. At this time, a bike loan is the only feasible option to purchase a bike. However, buyers often shelve their plans after looking at the down payment for a bike they want. Hefty interest rates on a bike loan also keep most buyers away from financing a bike. There is a way to get low-interest rates and pay a minimal down payment. This post will discuss this topic. Read on to learn more.

The Love for Motorcycles in India


India is a nation where more than 65% of the population is below 35 years. The youth of India prefer to take calculated financial decisions. One of the best examples that back the above statement is the love for bikes in India. The present generation in India has more spending of money at their disposal. Yet, most Indians choose to buy a bike over a car.

The reasons for the ever-increasing love for motorcycles in India are many. Some of them are mentioned in the sections below.

  • A motorcycle allows the owner to save money from the beginning. Bikes cost less and consume less fuel.
  • It takes less money to own a bike and maintain it.
  • Bike insurance plans are cheaper than car insurance plans.
  • Bikes are easy to park and ride.
  • Bikes are quicker than cars thus allowing the commuter to reach their destination quicker than a car owner.
  • Bikes emissions are lower than car emissions hence bike owners reduce their carbon footprint to some extent.

The Incessant Price Hikes of Motorcycles are Menacing, to be Honest!


In just the past few years, the growth of the motorcycle sector of India’s automobile industry has been exponential. Bike brands often find it hard to keep up with demands.

Taking note of this, bike manufacturers initiated a torrent of price hikes for their bike line-ups. This series of price hikes is still going on to this day and has become a menace, to be honest. The situation has come to a point where entry-level bikes cost more than INR. 80,000. Hence, the days of buying motorcycles with cash are long gone. The only solution for bike buyers is to apply for bike loans.

How Can One Pay a Low Down Payment While Buying a Bike?


Buyers can pay a low down payment when they follow the information shared below with due diligence.

Lenders Tend to Allow Borrowers to Pay Low Downpayments to Secure the Deal


One can buy a Bajaj bike with a minimum down payment or any other motorcycle they prefer by following this tip.

The buyer has to consult multiple lenders. The buyer can also consult lenders with body language that dictates they will go to other lenders. Lenders will witness that if they don’t meet with the client halfway, they would lose the deal. There are countless traditional and non-traditional lenders operating across India. Hence, competition is always fierce. To secure the client, the lender would offer the borrower favourable terms, which would include a low down payment.

Borrowers Can Always Use an EMI Calculator


One can also use a bike EMI calculator in a bid to plan the specifics of the bike loan. Loan specifications include the principal amount and the tenure. By using an EMI calculator, one can select the best principal + tenure combination and then keep down payment low.

Borrowers with Spotless Credit Histories can be Allowed to Pay Small Down Payments


Borrowers with spotless credit histories can pay the low down payment, as the lender will offer hefty principal amounts as debt. In the eyes of lenders, borrowers who have never failed to repay their debts are not ‘high-risk’ cases. Hence, lenders would readily offer a lump sum amount as debt to a borrower. For the best results, the borrower should pay the EMIs for the loan on time. Furthermore, at the time of applying for the loan, the borrower should not have running debts with other lenders.

Borrowers Can also Apply for 0 Downpayment Loans


One of the best ways to purchase a motorcycle is to apply for a ZERO down payment loan. When one wants to keep downpayments at bay, a ZERO downpayment loan offers the best solution. A ZERO down payment loan is a new form of financial product. These financial products are being offered by almost all traditional lenders and NBFCs across India.

A ZERO downpayment loan allows borrowers to take a bike home without paying a penny as a downpayment at the dealership. The entire ex-showroom MSRP of the bike will be paid for by the lender. The downside to this type of loan is that one would have to shell out money to register the bike. One would also have to pay to insure the bike. ZERO downpayment loans are not bundled with insurance plans like traditional bike loans. Furthermore, a ZERO down payment loan will entail steep interests and hefty EMIs.

To learn more about the best ways to buy a bike with a low down payment, please consult with a professional financial advisor.

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