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Is it better to buy a bike on EMI?

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Is it better to buy a bike on EMI?

Advantages of Taking a Bike Loan on EMI Repayment tenure can extend up to five years which results in lower EMIs every month. Minimal paperwork and fast processing of loan make it a popular choice for the borrowers.

Is it okay to buy bike in cash?

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. Two-wheeler loan allow people to buy their dream bikes or scooters without having to worry about the down payment.

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Is it a good time to buy a bike?

Financial Year Ending: We’ve noticed that two-wheeler many dealers give some tempting offers in the month of March. If you’re looking to upgrade, then the month of March seems to be a good time of the year to buy a new two-wheeler.

Can we buy a bike without loan?

Once you have decided to buy a bike, you may buy it in full payment or you could opt for a bike loan or finance to fund your bike’s cost. However, you should be eligible for a two-wheeler loan, which is decided based on your income, age limit, etc.

Is no cost EMI available on bikes?

Yep, new media reports have emerged on the interwebs, claiming folks interested in buying the TVS bike in India can, for now, avail a no-cost EMI offer for their purchase. Furthermore, TVS is offering the no cost EMI scheme on the purchase of a TVS Apache RTR 160 4V only with specific banks’ credit cards.

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How do you get a loan for a bike?

How to buy a bike on instalment?

  1. Check eligibility. If you already have a bike model in mind, then you need to start by checking if you are eligible for a Two-Wheeler Loan.
  2. Calculate EMI. The next step is to calculate the EMI or the equated monthly instalments.
  3. Apply for loan. Now you are all set.

Which month is best for bike?

If you are looking to exchange an old car or bike for a new one, December is a good time to do that. One can avail of the existing discounts on offer and the dealer evaluates the old car or bike at the prices prevailing in the current year.

What is the lowest down payment for a bike?

Minimum Down Payment Required for a Bike Loan It ranges from 15-30\%* of the two-wheeler value. Down payment solely depends on the cost of the bike and your repayment capacity. It is advisable to pay some amount as down payment for availing lower EMIs on bike loan.

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What is minimum down payment for bike?

Normally, the minimum down payment while purchasing a two-wheeler may range between 10\% to 30\% value of the vehicle. . Down payment on your two-wheeler loan depends on the policies of the lenders. Certain lenders make it compulsory to pay a down payment of 20\% of the value of the vehicle.

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