When one has plans to buy a bike these days, they often choose to apply for a bike loan.


Well, a bike loan entails a lot of benefits.

Some of the most appealing benefits of a Two wheeler loan are as follows – 

It allows one to buy a bike of their choice

The prices of bikes in India used to be affordable back in the day. Not anymore. The reason is simple. Bikes these days are equipped with lots of features and onboard electronics. Hence, OEMs have to offer their bikes high MSRPs. This is the reason why buying a bike through finance makes more sense. Or else, one would not be able to buy a bike they like. Instead, they would have to settle for one that is within their budget!

It allows one to keep their emergency funds and savings intact

It is no news that when one buys a bike with cash, they would have to empty their savings or emergency financial reserves. That would be a disastrous decision. A bike loan acts like a financial cushion that allows one to keep their savings intact. 

Bike loans are affordable

Bike loans used to entail hefty interest rates back in the day. Not anymore. They are now affordable. Furthermore, there are tools like a bike EMI calculator. Tools like an EMI calculator can help one to choose a bike loan that entails reasonable EMIs and interest rates.

Bike loans allow one to build their credit rating and history

Bike loans are secured. This will enable one to boost their credit score and credit history when they pay off their debt in the form of EMIs. 

Bike loans allow one to invest their savings

When one buys a bike with a loan, they can use the extra cash they have in the form of savings to invest. One can invest in mutual funds or buy penny stocks and trade them daily. In this way, they can remain financially secured, invest with the extra cash and own the bike of their dreams. Applying for a bike loan is a win-win decision! 

Bike loans allow one to buy a bike when they want

Buying a bike with a bike loan is an awesome idea. A bike loan not only allows one to buy a bike they want. It also allows one to buy a bike when they want! If one chooses to buy a bike with cash, they might have to wait to arrange funds. With a bike loan, they can take their dream bike home within a single business day!

Bike loan application procedures are similar and simple

Back in the day, applying for a bike loan was cumbersome. One had to make multiple visits to the office of their preferred lender to get their application approved. Not anymore. All traditional and non-traditional lenders now offer online bike loans. The best part, one can even file the necessary documents from the comfort of their home! How cool is that!?

Bike loans entail tax advantages

One can also ensure that the bike they are buying through a bike loan is exempted from taxes. All they would have to do is make sure that they are the owner of a business. They would also have to show on paper that the bike will be used for business purposes.

Bike loans are often bundled with bike insurance coverage

Most lenders bundle their bike loan schemes with bumper-to-bumper bike insurance coverage. Hence, one can save a lot of money by applying for a bike loan. 

Bike loans help one to become financially disciplined

With the help of a bike loan, a borrower can inculcate financial discipline in them. One would control their expenses and enforce strict financial discipline. The financial discipline enforced will allow the borrower to keep funds at hand and pay off their debt on time.

It would be wise to consult with a professional financial advisor for more details.


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