The Best Time to Buy a New Bike in 2017

by Vinaya HS on March 4, 2017

in Finance

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Do you want to buy a new motorcycle? Do you want to know the best month to make your purchase in order to maximize your benefits? Predicting the best time may be difficult however you should try not to purchase a bike before it gets discounted.

Most dealers offer discounts during the festive season, which makes it a good time to purchase a bike. Also, you may purchase one during the year-end as dealers may offer attractive schemes to clear their current stock. These discounts may also be available at the beginning of the year as dealer’s last year’s inventories may still be unsold. Purchasing a bike manufactured in the previous year is not a concern especially if you do not plan to resell it. You may also get discounts in the month of March as the financial year comes to an end. However, the choice may be limited during this period.

Companies may also offer excellent discounts prior to the launch of new models. Manufacturers often release new models at the same time each year. Therefore, you must stay abreast during the release of the latest models from your preferred brands to enjoy discounted prices.

You may avail of a bike loan to ensure you do not face financial constraints while purchasing your dream bike. Non-banking financial companies (NBFCs) and banks provide such loans at attractive interest rates, thereby making it easier for you to purchase the latest bike without facing any difficulties.

Here are three benefits of availing a two-wheeler loan.

1. Simple documentation

Lenders require minimal documentation to provide such loans. You simply have to submit basic documents like residence, identity, and income proof as well as bank statements. Furthermore, the processing time of such loans is short and therefore you will be able to ride your dream bike within a few days.

2. Affordability

The bike loan interest rate is not high, thereby making it affordable for you to avail of these facilities. Furthermore, the processing fees are nominal with no hidden charges and therefore you may easily borrow the loan amount.

3. Repayment flexibility

The lenders generally offer up to five years to repay the borrowed amount through Equated Monthly Installments (EMIs). This ensures you do not face any financial constraints in repaying the loan.

When you purchase a bike on EMI, you may enjoy the freedom of traveling as per your convenience, without weighing down your budget. Therefore, you should conduct extensive research to purchase your dream bike at the right time and avail of a loan to enjoy affordable two-wheeler loan interest rates.

Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

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