If you have already made up your mind and want to buy a two-wheeler, you may be thinking of how to go about this. There are many considerations to make before buying a two-wheeler. The first and foremost consideration is the budget that you want to shell out for this long lasting asset. A two-wheeler is not only a big expense but also adds to your regular monthly expenditure with its maintenance costs. Therefore, it is essential that you know what kind of vehicle you want before hitting the showrooms in order to avoid getting carried away by various offers or just being enticed by fancy decals and colors on display.
Buying a two-wheeler is a big investment, and it is important to ensure that you get through the loan period without any extra burden. With the right repayment schedule, you can keep your finances in check while purchasing your dream vehicle.
Here are 4 advantages and benefits of applying for a two-wheeler loan:
- Lending criteria for personal loans is simple and focuses on your eligibility to get a two wheeler loan. You can easily apply for it online without ever having to go to a branch. Most of the lenders just require the application form from you, and all the other activities are conducted digitally. Applying for the loan is simple, and the loan amount is disbursed rather quickly.
- Choose between different repayment options as per your convenience, or keep the account open for a period of time without making any repayments. You can also pay off the entire loan in one lump sum.
- If you are planning to buy a two-wheeler, then a motorcycle loan is an option for you. You can get competitive interest rates from different lenders. The loan amount is also high, allowing you to buy the two-wheeler easily, and spread the payment comfortably over the course of future.
- When you apply for this loan, most lenders require you to provide documentation that includes proof of age and employment, assets, salary documentation pages, bank statements and home address.
Two wheeler Finance is a type of personal loan. These loans are offered by banks, NBFCs and other lending institutions to buy a bike or scooter. Two important factors that determine the interest rate of your loan are your credit score and income. For each loan amount and risk category, there is a standard price quote. The bank or lender sets an approved credit limit based on your income, qualifications and other factors.
As one of the growing websites for ride financing, our loan process is very flexible and as per your convenience. You choose how much you need, what company you want to buy from and then from there sign up for your loan online. Yes, online. We know that many people want to go through the actual physical process and take their documents with them before approaching a bank or finance company. However, with us you can relax while sitting at home, surfing on your laptop or even in the park with your mobile, instead of roaming around malls in search of an elusive signature or authorization letter.