Purchasing a two-wheeler indeed gives you immense pride and pleasure. According to the Society of Indian Automobile Manufacturers (SIAM), around 77% of the vehicle market in India is dominated by two-wheelers.
There are numerous factors to consider while making a purchase decision. Right from deciding which bike you want to applying for a two-wheeler loan, the considerations are many. Following is a list of eight tips that will assist you in purchasing your two-wheeler.
The most important and primary step is deciding your budget. Do not opt for a bike that exceeds your budget, as this weighs on your finances. Alternatively, avail of a bike loan to prevent financial difficulties.
Decide which brand you should go for. Conduct extensive research on different options available in the market. Opt for a brand which is well-reputed to avoid any difficulties later.
Opt for a two-wheeler model that suits your needs. In case you are a racing enthusiast, you may opt for a racing bike. Similarly, you may opt for a standard two-wheeler if you wish to use it for the daily commute.
Visit multiple dealers and request quotes from them. Choose the one that is affordable and has exclusive offers.
Check the mileage of the bike you decide to purchase. There are numerous bikes available in the market that perform considerably well because of their fuel efficiency.
Choose a brand that has a wide network of service centers around your residence. You may have to visit the center for regular maintenance and repair services.
It is important to take the bike for a test drive before making a purchase. Test the brakes, accelerate through the gears and watch out for any unusual engine sounds.
Purchase two-wheeler insurance. It not only protects you in thecase of any untoward incident but also mitigates the financial impact of damage or injuries.
You may buy the bike on EMI to prevent any financial burden. Lenders today offer various benefits like flexible repayment schemes, quick loan approval, and minimal documentation. Opt for a lender like Capital First or any other non-banking financial company (NBFC) or banks that provide attractive bike loan interest rate.