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Tata Capital > Blog > Loan for Vehicle > Advantages of Availing a Bike Loan Over Cash Payment for Two-Wheeler

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Advantages of Availing a Bike Loan Over Cash Payment for Two-Wheeler

Advantages of Availing a Bike Loan Over Cash Payment for Two-Wheeler

Have your heart set on purchasing your favourite bike? Now you have two ways to go about it: Pay cash or opt for a loan. If you have enough savings for a bike, you will probably prefer to pay cash.

But what if you want to own a bike that is a little over your budget? Well, if you find any issues with self-financing, it is best to opt for a cash loan against bikeand not let money be a barrier.Today, many financial institutions offer affordable bike loans at attractive two-wheeler loan interest rates to help you fulfill your dream.

Let’s see how opting for a loan can be a viable option for you.

Less financial burden

Purchasing a two-wheeler in cash can burden your finances and you might end up draining your savings. Moreover, even if you have enough to afford a new bike, a loan is a more comfortable option as it allows for better budgeting. You can easily spend a little each month to clear off the loan. And not just that. You can also choose flexible repayment tenure as per your affordability.

This way, a bike loan not only helps you with a shortage of cash but also ensures your other monthly expenses aren’t affected.

Additional Read: Advantages of Availing A Two-Wheeler Loan

Easy to avail

When it comes to taking a bike loan over cash, most people might avoid it, believing that it could be a complicated process. But fortunately, it is not. Today, getting a bike loan is fairly quick and easy as most banks offer a simple online application process and easy-to-meet eligibility criteria. Further, you only need minimal documentation and you can enjoy faster disbursal to receive your funds in no time!

Improved credit score

Maintaining a healthy credit score is crucial if you wish to apply for a bigger loan in the future. Since two-wheeler loan come with comparatively lower interest rates, it becomes easy to repay the dues on time. This can help you improve your credit history and avail easy loan approvals later.

Get more choices

Loved a bike but the price exceeds your budget? Well, paying with cash can limit your budget options and preferences. So when you take a bike loan, there is no need to compromise on your dream bike as you get more options in terms of brands, models, and features with the financial support of a loan.

Enjoy additional offers

Today, many loan providers collaborate with bike dealers to offer you additional benefits on the purchase. These can include insurance cover, discounts, cashback, or even zero registration fee. You enjoy such attractive schemes, especially during or around the festive season, and take home your favourite bike!

Additional Read: Are There Any Benefits of Two-Wheeler Loans for Women?

In conclusion

Nowadays, availing a loan is a much more comfortable and convenient option where you can also enjoy a range of exciting benefits. If you are looking for one, Tata Capital is here to make your purchase more affordable than ever. Check out our bike loans available at flexible EMI options and extended tenure.

What’s more, an easy online application process and swift disbursal will help you finance your bike with ease. Plan your EMIs using our two-wheeler loan EMI calculator and get started today!

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