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Two-wheelers are popular among individuals across all age groups. The demand for motorbikes in the country is increasing due to their fuel-efficiency and easy-to-handle capability.
There are many aspects that need to be taken into consideration before purchasing a two-wheeler. It is important to conduct extensive research on various brands and models available in the market.
One of the most important factors to be considered is finance. If financial constraints are preventing you from making your dream bike purchase, you may avail of a two-wheeler loan. Many financiers offer benefits like minimal documentation, extended loan tenure, instant loan approval, flexible repayment schemes, as well as competitive two-wheeler loan interest rates.
Here is the mandatory checklist you must consider while buying a two-wheeler.
If you spend more than your budget it will cause a huge strain on your finances. Hence, analyze your financial position and select the model according to your budget.
2. Brand and model
There are numerous brands in the market offering bikes with a unique set of features. Select a brand carefully as the brand value decides the resale value of the bike. Decide the model based on your needs and budget.
The mileage of a two-wheeler is one of the important factors to consider. Choose a bike that offers a mileage of at least 35 to 40 kmpl. It is also important to consider the city traffic and small roads while calculating the same.
If you do not have the outright cash to finance your dream bike, you may avail of a loan and repay the same through Equated Monthly Installments (EMIs). Buying the bike on EMI is light on the pocket, thereby making loans a great finance option. You must conduct extensive research and opt for a well-known financial institution like Capital First that offers extended loan tenure, minimal documentation and attractive bike loan interest rates.
5. Location of service centers
Ensure that the service centers of the bike’s company are located near your residence. In the case of an emergency, you may visit the nearby service center for repairs, instead of traveling long distances.
You must consider the aforementioned checklist before purchasing the bike. This will ensure you ride home your dream bike without facing any difficulties.
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.