Buy the Bike that Best Meets Your Needs!

The popularity of two-wheelers is increasing. The main reasons for this are easy maneuvering in traffic, lower maintenance costs and efficient fuel prices. While purchasing a bike, you may be confused with the different types of models available in the market. Therefore, here are four factors you need to consider before purchasing a bike.

  1. Know your budget

This will help you eliminate those models that are beyond your financial capacity. Nowadays, you may easily purchase an expensive bike with a two-wheeler loan. The borrowed amount is repaid in Equated Monthly Installments (EMIs). Therefore, knowing how much EMI you will be able to afford without facing any financial difficulty is important.

  1. Determine the usage

You must determine your needs before making a purchase decision. You should consider if you are going to use the bike for your daily commute or enjoy longer rides. Choosing a motorcycle with higher mileage is advisable if you wish to ride the bike for short distances. However, for longer rides, you must opt for a bike that gives you comfort and more power.

  1. Buy from a reliable dealer

There are several well-reputed brands and it is recommended you test ride a few models before making your choice. Dealers may give you attractive offers, such as free add-ons, discounts and low two-wheeler loan interest rates. However, you should be cautious and procure multiple estimates from various dealers to make an informed decision.

  1. Check financing options

Banks and non-banking financial companies (NBFCs) like Mahindra Finance and Capital First offer attractive terms on bike loans, such as competitive interest rates up to 95% off on-road funding and extended loan tenure to help you purchase your dream bike. Before selecting a lender, you must evaluate and compare various options. Determine the loan tenure, effective bike loan interest rate, processing fees and other charges prior to signing on the dotted line.

Riding a bike is enjoyable and exhilarating. You may significantly enhance your experience by choosing the best bike as per your personal requirements. Consider the aforementioned factors and purchase a bike on EMI to maximize your benefits.

Author: Guest author

This is a contribution by a guest author. These guest posts are protected by Creative Commons unported license 4.0. Viewpoints are that of the author only. For posting articles as a guest author, please send your proposals to editor@business-fundas.com