Is it Worth Applying for Two-Wheeler Loans?
One thing we all know for a fact that two-wheelers are the most popular and convenient choice when it comes to personal transportation in India. A few of the reasons behind that are ease of navigation, affordability, and low-cost maintenance.
However, two-wheelers in today’s world are not so affordable to buy. Thus, more and more people have started to apply for 2-wheeler loans online.
But is it worth it? Should you opt for it? A lot of doubts and questions must have been hovering around in your mind. To find out whether it’s worth applying for two-wheeler loans, one can go through these points.
More Purchasing Power
With two-wheeler loans, you can increase your purchasing power as you won’t have to make the full payment at the time of buying your bike/scooty. This provides you with an opportunity to buy the best two-wheeler in the market as you will have additional money to spend that to be paid in easy EMIs.
Instant Loan Approval
If you want to buy your two-wheeler immediately, you can apply for two-wheeler loans online as it usually provides you with instant loan approval for any bike or scooty you choose. On top of that, their loan application process is usually uncomplicated and time-saving.
Low-Interest Rates
The two-wheeler loan market is competitive. Banks and NBFCs are competing with each other to provide customers with the lowest possible interest rates. Interest rates vary, and they can go as low as 7% if you choose to have a short-term loan but they can reach up to 18% and more depending on your tenure and specific needs.
Keep in mind that two-wheeler financing rates are generally lower than those on personal loans. Be aware that rates may fluctuate over time, so it is always a good idea to compare interest rates at different times.
You can also apply for an instant two-wheeler loan on WeFin as we provide instant Loan approval within 2 minutes for more than 35 two-wheeler brands. We also allow you to choose from over 1,444 two-wheeler models so that you can purchase your dream ride and that too with minimal documentation and low interest rate. Additionally, we offer our two-wheeler loans with a low-interest rate.
Feel free to apply for your two-wheeler loan today.