Why take a two-wheeler loan?
Education Loan Personal Loan SME Loan Tips & Advice Home Loan Two Wheeler Loan
October 26, 2018
The roads seem longer when you are tired, don’t they? Well, now you don’t have to stretch those extra miles and waste hours of time. You can simply opt to buy a two-wheeler and cut-down on those extra efforts. Although given a choice, we would all opt to travel via a motorbike; however, a good motorcycle will cost you around thousands of rupees. Now you don’t have to worry anymore, as you can easily avail a two-wheeler loan. There are numbers of FINTECH companies which have started offering two-wheeler loans online. Thus, you can easily make use of them and purchase your dream bike!
There are numbers of advantages of making use of a two-wheeler loan given out by FINTECH companies. A few of them are here as follows:
- You get a brand-new motorbike: The first obvious advantage of making use of a two-wheeler loan is that you get to own a motorbike of your choice. Thus, now you never have to worry about adjusting your priorities and straining yourself in the rush-hours of the train, bus, etc. A motorbike is not only affordable but also easier and cheaper to insure, when compared with a car. Thus, now you can easily insure your motorbike and meet the mandatory requirement proposed by the government of India.
- You can apply online: Thanks to the digital revolution in India, many financial institutions have taken the online route. They have started providing their services online. All you need to make use these services is a sturdy internet connection and a computer, laptop, tablet or a smartphone. You can easily avail a two-wheeler loan from the comfort of your home or even when you are on the go. An added advantage of making use of an online loan is its processing speed- it is way quicker than the traditional methods. An online loan is sanctioned within a couple of days.
- Helps you with financial management: As mentioned before, purchasing a motorbike can easily cost you thousands of rupees. Thus, making complete payment at once can cause a huge hole in your pocket. However, now you can easily avail two-wheeler loan and make timely repayments over a set of time. This will allow you to plan and manage your finances wisely.
- It’s good for your credit history and score: Applying for a two-wheeler loan is the perfect form of first-step towards attaining a good credit and score. Because the loan amount is low and thus, you will have to pay lower installments. Also, as these loans are shortly tenured, you can easily repay the loan amount within a short period of time.
- Great re-selling value: When you compare the resale value of a car and a motorbike, it’s evident that a motorbikes value is much better than that of a car. Thus, you can easily plan on purchasing a new vehicle as soon as you have completed with your repayments.
Hope this article helps you to understand the importance and advantages of a two-wheeler loan. Good luck and all the best!