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03 Sep

The Ultimate Guide For Selecting The Desired Two-wheeler

  • By Editorial Team
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Introduction

The way you can manoeuvre through the traffic in a two-wheeler is simply thrilling, time-saving and extremely satisfying. A two-wheeler is not just a vehicle but also an emotion. Therefore, if you have decided to buy one, you are in for a beautiful journey. You might end up nicknaming it, be possessive about it and it would be your constant companion. To ensure that this companion is the perfect one for you we have put together a to-do guide that will help you in selecting the correct two-wheeler for your needs.

  1. Understand your purpose

Choosing the correct two-wheeler can be a bit of a task. There are varieties of two-wheelers out there, so it would help if you are clear about the purpose this two-wheeler will solve. If you want it for your daily commutes just to get over city traffic woes, then you can choose for a two-wheeler that is made for daily runs. If you are already planning your next adventurous trip on that two-wheeler, then there are other options available like a cruiser or a sports bike. If your work makes you travel long distances, then a two-wheeler offering great mileage can be your true companion.

  1. Fix your budget

Before choosing the two-wheeler, it would help if you set up the upper limit and the lower limit. This serves two purposes. First, it helps you focus in a market filled with numerous two-wheeler options. Second, this ensures that you do not end up mismanaging your savings by buying something that cannot afford. Do not buy something too fancy for your purpose. On the other hand, also, do not compromise on a lesser model as with easy financing and repayment options these days; you can easily afford the two-wheeler of your choice.

  1. Browse the market

As a rule, it is always advisable to explore the market before you finalise the vehicle. Once you explore the market, you get a lot of extra information that can help you make the right decision. Are you aware of what kind of resale value you would get out of the two-wheeler you are planning to purchase? Are service centres easily available for the particular two-wheeler you are planning to purchase? Is the cost of maintenance high? These are some of the questions; you would find answers to, once you sufficiently browse through the market.

  1. Choose a bike

Once you have explored all the options, make a list of the factors that are most important to you, for example - mileage, easy financing, easy resale, suitable for adventure travel, etc. With the help of this list, re-evaluate your options and choose the two-wheeler best suited for your needs.

  1. Take a two-wheeler loan

This is one of the most important financial decisions when buying a two-wheeler. Once you have finalised your budget , you must be clear about how much you need to borrow. Driven by attractive loan offers, do not tend to over-borrow as it might prolong the repayment schedule and increase the EMI amount, which might not wind up well for your financial health.

With Hero FinCorp, avail the most well-curated loan offers ranging from INR 10,000 to INR 1,00,000 with

  • Lower interest rates

  • LTV (Loan to Value) ratio of up to 95%

  • Easy application process

  • Flexible repayment schedule

  • Several repayment modes such as PDC, ECS, NACH, cash etc.

  • Quick and hassle-free loan approval

  1. Use the EMI calculator to make sure that the plan you are choosing is in accord with your monthly expenses. It is a good idea to look out for additional offers such as zero processing fee, free insurance, etc. These offers are common during festive seasons. Make sure you choose an offer that includes flexible EMIs and grace periods so that you never miss an EMI. Also, to the best of your financial capacity, make a high amount of down payment so that your repayment amount and tenure is not too difficult to handle at a later stage.

  2. Book your two-wheeler 

Make a timely decision and book your two-wheeler, as sometimes there is a long waiting period before you actually get your vehicle. Once you have made the important decisions such as financing, etc. book your two-wheeler.

Conclusion

With a dependable two-wheeler, you can seamlessly glide through traffic, be safe on the road, and save up on a lot of time. Never forget to wear a helmet and you will surely be driving your way to success on that two-wheeler.

Know more about Two-Wheeler Loans

 

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Did You Know

Loan to Value Ratio (LTV)

LTV or Loan to Value Ratio is the ratio of the loan amount to the value of the property or any other asset being purchased. A high LTV means that the borower is taking a risk and borrowing a major portion of the asset value. So the lower the LTV, the more easily a borrower will get the loan. But a good credit rating can help a borrowers to get a high LTV loan.

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