5 Points to Consider Before Going for a Two-Wheeler Loan

A two-wheeler may mean different things to different people. While few rely on it for their daily commute to work or business, others may use it for running errands. If you are considering purchasing a two-wheeler but are short on resources, don’t worry; there are a variety of financing options available today.

The market is currently saturated with choices, allowing you to narrow down on any one vehicle which meets your needs; be it comfort, thrill or style. Loans make it possible for you to bring home your desired two-wheeler without significantly depleting your current fiscal resources.

Here are five points you should consider before you opt for a two-wheeler loan

  1. Financing options

Lenders have created multiple avenues for you to choose from as they attempt to meet the requirements of each individual looking for vehicle financing. Make a list of your requirements and the estimated amount you would like to spend on this purchase. Based on the aforementioned factors, narrow down EMI schemes that allow you to enjoy your dream ride without causing any financial strain.

  1. Terrain

A motorbike is a long-term investment and you should ideally review your surroundings before making a purchase. While some two wheelers are built to survive on any terrain, some are more inclined towards performance

Since it is a medium to long term purchase; you shouldn’t end up buying a bike on EMI which is ill-suited to your surroundings resulting in hefty maintenance bills.

  1. Maintenance costs

When you plan your finances, you should also consider the timely maintenance that your two-wheeler would require. Consider regular checkups and servicing fees required to lengthen the lifespan of your bike.

  1. New or used vehicle

When you are reviewing various financing options, one essential choice is the purchase of second-hand two-wheelers. You can purchase used bikes in good conditions through reputed dealers. However, new bikes out of showrooms are not only cutting-edge in terms of their features but also offer you manufacturer warranties. Inquire about two-wheeler loan interest rates as new vehicles may allow you to qualify for better financial schemes.

  1. Accessories and furnishing

Last but not the least is the aesthetic appeal. Two-wheeler enthusiasts claim that one of the best things about owning a vehicle is the ability to personalize it. While you may choose to customize the two-wheeler to suit your personality and riding preferences, certain accessories like decals & seat covers are heavily recommended. These not only provide comfort but also elevate your overall experience.

Many financial lenders offer two-wheeler loans, which can enable you to tick-off the dream vehicle from your wish list. However, before signing on the dotted line, review the documents carefully. Inquire regarding specific discounts or offers when it comes to the finance schemes, and always set realistic targets in terms of EMIs.

Vikas Agarwal
the authorVikas Agarwal
Vikas Agarwal is an IIT-Varanasi graduate in Chemical Engineering. He is the Founder and CEO of - an investment advisory website. He is a Business Development Professional but a Value Investor at heart. He writes articles on Finaacle, which focus on simplifying the art of investing and the causes of human misjudgment when it comes to investing. He also shares his experiences as an investor and lessons from some of the greatest investors of all time.

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