Smart Ways for funding A Two Wheeler Purchase

Two-wheelers are the backbone of our ever-moving economy. With more than 21 million bikes sold in 2019, the demand for two-wheelers has always been high. People of all ages and all Indian demography parts have their dream bikes that they want to buy. If you have been dreaming of bringing home your favorite bike too, then what are you waiting for?

Two-wheeler loans have become extremely affordable and easily available. These days you can even walk into a dealership and walk out with your dream bike on the same day. You can get a Two wheeler loan on the spot in the showrooms and can get your bike 100% financed about certain terms and conditions. Apart from financing your new bike, there are other options available too through which you can purchase your dream bike. In this article, we will be talking about 3 smart ways to fund your two-wheeler purchase.


Personal Savings

This is the simplest yet the most effective way to fund your purchase. Set a target date to buy your bike and start saving from right now. Once you have the right amount of money, you can buy your bike by paying the entire amount upfront. However, this method of funding any purchase has the inherent risk of running out of cash shortly. You might get caught off guard if any emergency arrives right after you make the purchase. Hence, it is advisable only for those who have a good and steady income source and can set aside money like that aside for a long time.


Using Credit card

This is also a simple way of buying your dream bike where the entire process gets completed by just swiping your credit card. However, you need that kind of credit limit on your credit card to purchase an expensive or even a decent bike. 

One way to use the card can be to pay for some of the amounts in cash and the rest of the amount through your credit card. You can arrange for the cash from your savings or by selling some old assets. Credit cards, however, do come with their limitations. The stringent interest rates and the overdue limits may dig a big hole in your pocket if you miss a few installments. You also have to clear your existing dues before you can buy a new bike using the credit card.


Two Wheeler loan

A two-wheeler loan from a bank or NBFC might sound like a complicated process to buy a bike. However, you will be amazed to know that it is the most preferred way of buying a bike. The main reasons for their acceptance are the affordability and flexibility of these loans. You can pay a down payment and get a loan for the balance or even get the entire amount financed. Bike loans are often approved on the same day of application. 

Using a two-wheeler loan to fund your purchase can prove to be the smartest way to do it. You can save the capital for your near-term expenses and keep paying the affordable EMIs for a long duration. You can calculate the EMIs for different interest rates and different durations using the Bike Loan Calculator apps available online. Hence, use the bike EMI calculator to know what exact amount you’ll have to shell out every month and plan accordingly.

Of all the methods stated above, taking a loan might be the smartest and safest one. Choose a financer that gives your good terms for your loan and walk out with your dream bike today.


Alisha Antil is your best financial helper. She has a vast experience in finance and loans and provide to you the expert advise in ensuring your property and health. She has in depth knowledge and has written more than 1200 blogs on topics related loan against property. She also provide you with knowledge about home improvement and cooking.

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