Two-wheelers are more popular than any other mode of private transportation in India. The reason behind the continued popularity of bikes and scooter is that they have multiple uses. Two-wheelers are used in India for reasons ranging from commuting, long distance riding, cruising, and racing to off-road riding. However, the cost of bikes and scooters depends on factors such as the brand and utility of the vehicle. But, most of the people in India cannot afford to buy the vehicles outright with cash. This is where two-wheeler loan enter as a shining ray of hope. Two-wheeler loan allow people to buy their dream bikes or scooters without having to worry about the down payment. However, people often wonder whether it would be better to purchase a bike using cash or through bike loan. So, how can you decide which is the best way when it comes to purchasing a bike. Well, it depends on your circumstances along with the type of bike you choose. So, how can you decide which is the best means for buying your dream bike or scooter? Here’s how:
Two-Wheeler Loan Vs. Cash!
As mentioned earlier, buying a bike or scooter with a two-wheeler loan, then you need to consider various other factors. One of the most important factors that you need to consider is the interest rate of the loan. Another important factor that you should consider is the EMI. Before applying for a loan, you should evaluate the value of EMIs with the help of bike loan calculator to ensure that you will be able to afford it. Availing a bike loan offers numerous advantages. The obvious advantage is that you do not have to invest a considerable amount of funds; thus, your liquidity will not be affected.
On the other hand, if you were to use cash instead of a bike loan, then your liquidity will be considerable affected. Moreover, many dealers offer discounts and additional features if you purchase through loan.
Instant Two-Wheeler Loan with PaySense!
While almost every bank in India offers bike loan, applying for loan to a bank has its own set of drawbacks. However, applying for two-wheeler loan at PaySense would be highly beneficial for you. Not only is the loan sanctioned instantly and without any hassle. Furthermore, while most banks do not allow loans for used two-wheelers, PaySense has no such restrictions. In fact, you can use the online bike loan calculator provided by PaySense to decide the amount that you will be able to afford on a monthly basis. So, check your eligibility and and apply now!
Apply for Loans of upto ₹5 Lakhs easily using your phone or laptop, and pay back on low EMIs