Reasons To Apply for Two-Wheeler Loans
With the improving Indian economy, more and more people are looking to buy a vehicle, especially a two-wheeler. It’s because with the growing pollution, traffic problems, and the constant tolls, many people are finding ways to ditch their cars and go out on motorcycles for an easy and quick commute. But now a days two-wheelers don’t come in a cheap rate. The Starting price can be from Rs. 50,000 to Rs. 60,000, and the price can go up to 2 lakhs for a decent two-wheeler model. The price range includes both bikes and scooters.
Since the prices of vehicles have been increasing, more and more people are getting inclined towards two-wheeler loans. As compared to other types of loans, two-wheeler loans come with more benefits.
There are few reasons why you should opt for two-wheeler loans.
- Affordable Interest Rate
The industry of two-wheeler loans is competitive. There are many lenders to choose from and many of them are trying to attract customers with affordable two-wheeler interest rates. That means when you apply for two-wheeler loans, you get a competitive interest rate. This allows you two buy your dream bike or scooter with ease while also letting you save a significant cost on interest.
- Build a Healthy Credit Score
Generally, two-wheeler loans are offered with an affordable interest rate and easy repayment tenure. So, if you want to improve your credit score, it’s recommended to opt for two-wheeler loans. Make sure you pay each EMI on time to create a good credit trial that will help you improve your credit score.
- Easy Application Process
Another reason why you should apply for a two-wheeler loan is the easy application process. Gone are the days when we use to wait for days and even weeks to get the loan approved. In today’s world, your two-wheeler loan can be approved at a fast turnaround time, therefore, the disbursals are usually quick, and the application process is very simple, requiring minimal documentation.
- No Compromise with Your Desires
Owning a two-wheeler of your desire might be out of your reach if you have to pay for it in full. You may not have enough money saved up to make large purchases. It becomes more difficult if you’ve been saving for something specific like a home, laptop, or anything else. But with two-wheeler loans, you don’t need to compromise the functionality of the vehicle you choose because of insufficient funds. You will be able to finance any two-wheeler of your choice.
- Keep Your Savings Untouched
Emergencies can strike anytime even at the times you least expect them to take place. In such times, it’s vital to have some money saved to cope with the financial crises. Exhausting your funds to buy the vehicle can lead you to an unstable financial position. Eliminate the risk and keep your savings untouched by applying for a two-wheeler loan.
If you’re also looking forward to applying for a bike loan or electric bike loan, get in touch with us.
At WeFin, we provide quick two-wheeler loan disbursals with an easy application process. We ensure a fast turnaround time so that you can buy the two-wheeler of your choice immediately. Our loan disbursal process is 100% hassle-free and paperless, allowing you to acquire a loan at your fingertips from the comfort of your home.
Contact us today!