Benefits of Two Wheeler Loan – Two-wheelers are more convenient than four-wheelers. Investing in a good and affordable bike is the wisest decision you could make and getting two-wheeler loans have also become super easy. Take a loan and repay the amount in easy instalments every month as per your convenience. Bajaj auto finance brings you the most lucrative loan options. We also have a plethora of two-wheelers for you to choose from.
You will get answers to all your questions regarding how to get a bike loan and what are its advantages on the website.
Let’s walk you through the significant advantages of two-wheeler loans:
1. Lesser financial burden
Loans for two-wheelers allow you to repay a lump sum amount of money with manageable monthly instalments over a period of time. You repay the loan amount at your convenience. With the available loan options, you can also choose to pay off the loan within a year or sixty months. All these factors depend on your monthly income and the monthly EMI you are comfortable with.
2. Easy and convenient
You can maintain two Wheeler loans as per your financial suitability. Two-wheelers come with comparably more mileage than every four-wheeler vehicles. This ensures that you save a fortune there. You can also easily apply for two Wheeler loans online from your home. You no longer have to go through tedious banking procedures.
3. Improving credit score
Two Wheeler is more comfortable to pay off in a short tenure. Paying off loans also adds to your credit score.
4. Margin on finance
Most of the leading Non-Banking Financial Companies extend finance margins that sometimes go up to even one hundred per cent of the on-road price of the vehicle you are planning to buy.
5. No charges on prepayment
Some banks tend to fix the repayment tenure of your two wheeler loan. This depends on the interest that the lender earns from it. If you are able to pay off the loan before the end of the tenure, you will be levied a prepayment charge. The lender might also nullify the monthly interest loss.
6. A greater degree of affordability
Long repayment tenure on two-wheeler loans is a perk. In addition to that, the flexibility of easy monthly instalments will make your dreams of owning a new two-wheeler affordable.
7. Increase resale value
Two-wheelers offer a better resale value than four-wheelers. Therefore, you can purchase a new vehicle and replace your old car as soon as you finish paying off the loan.
