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India is one of the largest two-wheeler markets in the world. In 2022, the market was estimated to be about USD 16,000 million in 2022, and this is slated to reach about USD 27,000 million by 2028. This growth is at an astounding CAGR of 9.88%. The introduction of electric motorcycles will amplify this growth even further.
These are some promising data that reflect ample market opportunities. But what is the reason behind this growth? Well, one major reason for the expanding two-wheeler market in India is the easy availability of bike finance. Now, lending institutions like Hero FinCorp cover 95% of the bike’s price with a Bike Loan, allowing you to bring your bike home without paying its price upfront.
Are you planning to purchase the bike you desire? Let’s go ahead and explore the types of bikes in India.
As with every other invention, bikes have gradually evolved from steam-powered safety motorcycles and gas-powered engine machines to the four-stroke engine bikes that roar across the highways today.
The first bikes appeared in 1867 with a small steam engine fitted on a bicycle. Later, it got an alcohol burner with a smaller front wheel and a bigger back wheel. The first commercial bike came in 1884, featuring a liquid-cooled engine that allowed riders to control the bike's speed. In the coming year, bike manufacturers started outfitting their motorcycles with internal combustion engines with key advancements in brakes, controls, fuel injection systems, ABS, etc.
Even today, types of bikes continue to evolve with advanced safety measures and an environment-friendly approach. Looking forward to the future of biking, manufacturers intend to produce more fuel-efficient and stable versions with hubless wheels, electric and hybrid bikes, mobile connectivity, etc. With easy bike finance available today, you can opt for the latest bike model with the most advanced features and specifications.
Engine: 100 - 125cc
Average Mileage: Around 83 kmpl
Reason to Buy:
Sturdy design
Strong body
Easy for daily commutes
High mileage
Ergonomic posture
Easy availability of bikes on loan
Reason to Avoid:
Lower power
Limited fuel tank capacity
Not suitable for rough terrains
Maximum Age: 50,000 miles
Price: Rs 50,900 – Rs 1.62 Lakh
Engine: 200-373cc
Average Mileage: Around 35 kmpl
Reason to Buy:
Good for touring
Smooth rides on rugged roads
Comfortable handling
Higher torque
Long-travel suspension setups
Reason to Avoid:
Heavyweight
Protruding parts
Higher price
Maximum Age: 40,000 - 50,000 miles
Price: Rs 1.49 Lakh – Rs 15.5 Lakh
Engine: Up to 1103cc
Average Mileage: Around 13.2 kmpl
Reason to Buy:
Great high-speed stability
Scary fast speed
High horsepower and displacement
Reason to Avoid:
Impractical for everyday usage
Low mileage
High ownership and maintenance costs
Expensive price range
Maximum Age: 20,000 miles
Price: Rs 17 Lakh – Rs 33 Lakh
Engine: 300-1000+cc
Average Mileage: 83 kmpl
Reason to Buy:
Lightweight
Aerodynamic frames
Big tires
High power
Unique riding posture
Reason to Avoid:
Tall seat height
Not suitable for long off-road trips
Maximum Age: 25,000–50,000 miles
Price: Rs 86,000 – Rs 70 Lakh
Engine: 249-883cc
Average Mileage: 32 kmpl
Reason to Buy:
Great style
Extra comfort
Easy customisation
High torque
Good for beginners
Suitable for load-carrying
Reason to Avoid:
Slower acceleration
Heavyweight
Excessive vibration
Less mileage
Low ground clearance
Expensive pricing
Maximum Age: 40,000 – 50,000 miles
Price: Rs 1.16 Lakh – Rs 46.77 Lakh
Engine: 50cc to 250cc
Average Mileage: 80 kmpl
Reason to Buy:
Cheaper spare parts
Easy maintenance
High fuel mileage
Quieter operation
Lightweight
Cheaper insurance
Easy availability of bike loans
Reason to Avoid:
Lack of stylish looks
Lack of exercise
Battery issues
Only suitable for short trips
Maximum Age: 200,000 miles
Price: Rs 44,999 - Rs 11.25 Lakh
With the easy availability of bike finance from Hero FinCorp in India, you no longer need to admire your dream bike from a distance. Instead, you can walk into the showroom and bring your bike home without paying its price upfront. Here is how a two-wheeler loan helps you choose the best types of motorcycles suitable for your needs:
Financial Freedom to Buy the Bike of Your Choice: If you have an eye on an expensive bike, you don't need to save for years to purchase it. You can directly go to the showroom and buy your dream bike. Don't worry about the cost; Hero FinCorp will finance up to 95% of it, which you can repay later in easy EMIs.
Higher Budget to Purchase a Better Bike: If you buy a bike from your savings, you may have a limited budget within which you must choose the bike to purchase. However, if you browse the available motorcycle types with bike finance in hand, you can opt for a more expensive bike without worrying about money.
No Financial Burden: Usually, when you finance a bike with your savings, you exhaust your emergency funds for the purchase. In a few months, if an emergency strikes, you are left with no reserve to tackle the situation. Purchasing bikes on loans lets you keep your savings intact. Moreover, you can choose a repayment tenure with easily affordable EMIs that you can pay without stretching your monthly budget.
Have you finalised one among the different types of bikes to purchase? Follow this stepwise procedure to apply for bike finance at Hero FinCorp:
Visit the Hero FinCorp official website.
Go to the two-wheeler loan section.
Click the ‘Apply Now’ button.
Enter the required details.
Select the 'Hero MotoCorp Two-Wheeler dealership' you approach to purchase the bike.
Tick the box to accept the ‘terms and conditions’
Click on ‘Apply Now’.
It's important to note that Hero FinCorp Bike Loans exclusively apply to Hero MotoCorp two-wheelers. For bikes of other brands, you can explore Hero FinCorp's Personal Loans, featuring competitive interest rates and a flexible repayment tenure of up to 60 months.
1. How do I choose the right bike?
When choosing the right bike to purchase, you must consider several factors: price, budget, styling, brand reputation, terrain, body type, usage frequency, engine displacement, mileage, size, height, etc.
2. How many types of bikes are there?
You will find different types of motorcycles to buy in India, including cruisers, sports bikes, streetfighters, adventure bikes, commuter bikes, and scooters.
3. Which is the No. one bike?
You will need to look at the different types of bikes to find the No. 1 bike. For instance, Royal Enfield Hunter received the Indian Motorcycle of the Year reward in 2023. Hero Destini Prime, Yamaha MT-15, TVS Apache RTR 160, etc., are other bikes worth considering.
4. How to choose a bike for men?
Choosing a bike for men involves considering purpose, engine capacity, type, comfort, features, and budget. Before deciding, one can test-ride the different types of motorcycles for comfort and handling.
Disclaimer: The information provided in this blog post is intended for informational purposes only. The content is based on research and opinions available at the time of writing. While we strive to ensure accuracy, we do not claim to be exhaustive or definitive. Readers are advised to independently verify any details mentioned here, such as specifications, features, and availability, before making any purchasing decisions. Hero FinCorp does not take responsibility for any discrepancies, inaccuracies, or changes that may occur after the publication of this blog. The choice to rely on the information presented herein is at the reader's discretion, and we recommend consulting official sources and experts for the most up-to-date and accurate information about the products.
The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.
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