Should You Finance Your Two Wheeler ? Know Complete Details

It is safe to state that not every person is capable of buying a motorcycle using cash. Maybe it was possible back in the day. Now, it is next to impossible. The reason is simple. The prices of motorcycles are increasing with each passing year. Even entry-level sports commuter bikes are now coming with MSRPs that surpass the INR one lakh mark.

So What is the Solution?


It is simple – a bike loan.

Are there any benefits of applying for a bike loan?

There are many benefits of buying a bike with a bike loan and not with cash. Some of the hard-to-ignore benefits of two-wheeler finance are mentioned below –

Bike Loans Allow one to Buy a Bike They Want


The Indian motorcycle industry is at an all-time high. There are several indigenous and foreign bike brands. The number of options for a bike enthusiast is plenty. Hence, it is natural for one to prefer an expensive bike.

In this context, one should remember that when one chooses to buy a bike with cash, they have limited options. Since their cash at hand is limited and they cannot increase their budget, they cannot buy an expensive bike.

A bike loan can increase a person’s options as most lenders can cover up to 90% of a bike’s MSRP. Sure, the EMIs and the rate of interest will be high but one can buy a bike they want.

It is as simple as that!

A Bike Loan Keeps One from Stretching their Monthly Expenses


The common person has a monthly expense plan. They have to stick to it or they would not be able to save for a rainy day. Buying a bike with cash leads to a scenario where a person loses their savings in one go. This can lead to instances where the person has no funds to cover a financial emergency. To keep such instances from occurring, one must buy a bike with a bike loan.

A bike loan acts like a financial cushion. It allows a person to repay the borrowed amount plus interest in small sums known as EMI. This ensures that one never has to exhaust their savings. One can also keep their monthly budgets intact as a bike loan EMI will never be an unreasonable amount.

Bike Loan Interest Rates are Affordable


Applying for a bike loan was a niche market back in the day. Hence, the interest rates that came with bike loans were quite high. Not anymore. As more people are applying for a bike loan these days, lenders are offering competitive interest rates.


Well, since more lenders have started offering bike loans, lenders keep interest rates low to remain ahead of one another. In this context, one must remember to use a bike EMI calculator before applying for a loan.

It is Pretty Easy to Apply for a Bike Loan


Back in the day, applying for a bike loan was a cumbersome process. Not anymore. Loans get sanctioned within a working day, if not within hours. Furthermore, one can apply for a bike loan from the comfort of their home. Better yet, one can also submit all necessary documents online.

One can also get Bike Insurance When they are Applying for a Bike Loan


The most appealing aspect of a bike loan is that one can get their bike insured in the process. Leading lenders these days have collaborations with leading insurers. Hence, when a borrower applies for a bike loan, they can easily get their bike insured. Furthermore, the borrower can also get benefits like cash backs, discounts and sometimes free basic cover for the bike.

The advantages of purchasing a motorcycle with the help of a bike loan are many. Hence, one should always apply for a bike loan and refrain from buying a bike with cash. For more details, one should consult with the spokesperson of their preferred lender today.

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