Nothing quite gets the adrenaline pumping of a bike enthusiast as cutting through traffic on a majestic super bike. Feeling the wind blowing on their face, enjoying the quick shifting of the gears, listening to roar of the powerful engine and admiring the exquisite detailing and unique features of the super bike is enough to send any bike lover on cloud nine. While there are hundred more benefits such as saving time spent in traffic, not having to deal with the hassle of parking, having the freedom to travel anywhere quickly, requiring low maintenance, being fuel-efficient and pocket-friendly, a true bike lover merely rejoices in the experience of riding a super bike and there is nothing better for him than riding on his, very own super bike. And thanks to the easy availability of two-wheeler loan in India, you can purchase your dream bike without spending all of your savings in one go.
Wondering how to get your own super bike with a two-wheeler loan? Read on to find out how.
1. Check for Eligibility
Just as any other loan, a bike loan too, requires you to qualify for the loan. For all those bike enthusiasts who just can’t wait to purchase their own super bike, get in touch with NBFCs for quick loan approval, sanction and disbursal. If you fall under the 21-60 age bracket, are self-employed or salaried and have a minimum 1-year track record of employment or business ownership along with a credit score of 750 or more, you can avail the best bike loan in India.
2. Submit All Necessary Documents
When applying for two-wheeler loan in India, you must gather all the valid documents beforehand and then double-check to avoid making blunders. By submitting all the right documents, you can increase your chances for quick approvals. You need to submit standard KYC documents to prove your identity, home address, business and profession, income, bank statements, balance sheet, salary slips, ITRs and P&L statement which pertains to your profession and trade licenses for easy approval.
3. Checking the Rate of Interest and EMI options
Comprising of a powerful engine from anywhere between 800 to 2000 cc, a sports bike holds immense power and is often comparable to the engine of a four-wheeler. As a result, they possess exorbitant price points with a starting price of Rs. 20 lakhs. That’s why it’s important to consider your monthly EMIs before purchasing a super bike. Check the interest rates, choose a suitable EMI plan, and decide upon your tenure after calculating the price of your bike’s additional expenses such as maintenance and insurance. Lastly, calculate the total repayment amount after factoring in all these elements.
Looking for a financial company that will provide you with the two-wheeler finance for your super bike? Look no further than Tata Capital. Possessing a wide range of tailored two-wheeler loans for you to choose from, we also offer flexible EMI plans, attractive interest rates, easy repayment options and high loan eligibility to help purchase the bike of your dreams and ride off into the sunset with your true love- your superbike!