Very often individuals may not purchase the bike of their dreams as they may presume it to be an expensive affair. However, I am here to tell you that this perception may not entirely be true. Just before I purchased the two-wheeler that I wanted since so long, I believed I could not afford such an expensive bike.
However, when the option of purchasing a bike on EMI caught my attention, I realized that buying a bike is not as costly as it seemed to be. I purchased the bike in 2014 and by mid-2016 I had completed my loan repayment. Such an option seemed so convenient to me, that I now intend to purchase another bike for my younger brother on an EMI basis, which will most likely be my gift to him this festive season.
Given the numerous lending options available in the market, it has now become quite easy to get the bike of your dreams. Banks and lending institutions offer low bike loan interest rate, making borrowing a very attractive option.
Following are the reasons why I bought my bike on Equated Monthly Installment (EMI) and you should too.
I decided to opt for a bike loan for the simple fact that it had an EMI option. This allowed me to own a bike without having to worry about arranging funds to make an outright payment. It gave me the power to purchase a two-wheeler, which would not have been possible otherwise. Additionally, repaying through EMIs was a budget-friendly option as it did not exert any financial strain.
When I availed of a two-wheeler loan, I also received accessory funding from my lender. Hence, check whether your lender is prepared to include the cost of apparel and accessories in the loan. Otherwise, you may have to shell out additional money for the same.
Do not allow your financial situation to hold you back. Instead, opt for a loan which offers competitive two-wheeler loan interest rate and repay on a regular basis. Doing so will help you obtain your dream bike without facing any financial constraints.