Tired of getting stuck in traffic jams? You are not alone. In the overpopulated metro cities, you tend to waste a lot of time being stuck in the traffic whether you use public transport or drive a car to get to your office. The simplest solution is to own a two-wheeler. Those sleek and comfortable machines can make way for themselves in the densest of the traffic jams. The importance of two-wheelers increases by leaps and bounds due to the fast-paced lives we live in. It is also evident by the unprecedented demand for two-wheeler vehicles in the Indian market. 4 Reasons why you should take a Two-Wheeler Loan
These days you can easily get a two-wheeler loan online to finance your purchase. Like Fullerton India, big financial institutions offer great schemes for two-wheeler loans at attractive rates of interest. Taking a two-wheeler loan has more benefits than you can think about. In this article, we will discuss the various reasons you take a two-wheeler loan to finance your next dream bike. Please pay attention to these points as they will come in handy while planning for a new motorcycle for yourself or your family member.
1. Amount
With the rising rates of inflation, the prices of two-wheelers have also skyrocketed. Your dream bike might now seem to be out of your financial reach as the on-road prices have surged very high. However, this shouldn’t stop you from buying the motorcycle or scooter of your choice. It is not every day that you buy a new two-wheeler, and you are probably going to use it for the next decade or so. Hence, it is always advisable not to compromise on your choice.
To fund the purchase, you can always take a two-wheeler loan. A two-wheeler loan will cover almost the entire price, which you can repay in small and easy installments. This is an excellent way to save yourself from a financial crisis in the short-term and to gain an asset for the long-term. Hence, book the two-wheeler model that you always wanted to own and let the financial institutions, like Fullerton India, help you fulfill your desire through a two-wheeler loan.
2. Tax Benefits
If you own a company or are self-employed, then taking a two-wheeler loan online is a great option to buy your next vehicle. All you have to do is buy the vehicle in your company’s name and save a considerable amount of cash on additional payments such as insurance, fuel, and maintenance. These charges are deducted from your profits. This allows you to enjoy depreciation benefits. Hence, taking a two-wheeler loan for a business owner has multiple benefits.
3. Financial Stability
There is no end to desires in this modern world, and no one is telling you to curb them too. However, financing your purchases through personal loans or vehicle loans brings a sense of discipline and stability in your financial life. You compulsorily have to pay EMIs every month, which are both easy and affordable. These EMIs also indicate the amount or the proportion of your salary going to your long-term purchases. Therefore, rather than going from one financial crisis to another to fulfill your dreams, you should start getting them financed and automate their repayments.
4. Attractive Interest Rates
With big financial institutions and NBFCs coming into the picture, the two-wheeler loan interest rate has significantly decreased. Two-wheeler loans are highly affordable. The interest rates can be negotiated to even a lower-level if you have a great credit score. However, it all depends on your lender. Hence, choose your lender wisely.
These were the benefits of taking a two-wheeler loan. What are you waiting for? Bring your long-awaited plans to action and buy your dream bike.
