Buying your 2-wheeler is a step towards a comfortable lifestyle and gives a sense of achievement. Several factors impact a vehicle’s price. The purchase timing is one such key factor. If you are planning to take a loan to buy your bike, you should check if it is the best time to invest in a vehicle. But how can one know if it is the right time to invest in a bike? Let us help you.
Specific Occasions and Periods
There are a few occasions and specific months when you can get a favorable deal for your bike.
Seasonal Discounts on Festive Occasions
There are special days in India when you can plan to buy a bike. Manufacturers and dealers come up with irresistible deals during the festive season or on occasions such as Independence Day. These special occasions or festivals can help you save a lot of money on bike purchases and also on an online bike loan. However, the demand can increase due to attractive pricing. It will increase the waiting period for a few vehicles.
End of the Year
Year-end is a good period to buy a new bike because dealers need to clear inventory to showcase new models in the showroom. You can expect attractive discount offers and make significant savings.
Aspects to Considers on Personal Level
It’s a need, not a desire
Owning a bike is a necessity for a comfortable commute. In this fast-paced era, you need to be on time. Your bike helps you commute with greater comfort and control over time and routes. You should check how often you would use your bike for personal use. You can expect discounted 2-wheeler loan interest rates during festivals.
Affordability
The best time to purchase a new bike is when you can take a loan without a burden on your monthly budget. You should be able to pay the down payment. Analyze your income, current debt, and monthly expenses to evaluate your financial situation and if you are ready for the purchase. If you find it a tentative deal, wait a few months to finance your bike to avoid the credit burden.
Your family requires it
Changing family dynamics can make commuting inconvenient. You can avoid crowded public transport By buying a vehicle which will give you the freedom to ride with your family, even during odd hours.
Your job involves frequent traveling and you want more control over time
You may have to bear huge expenses due to traveling. Therefore, it might be the right time to buy a bike if you travel frequently. Plan your purchase to ensure that you reach your location on time.
Safety is a concern
Your safety is in your hands. Public transports are not always safe or reliable. Take control of the driver’s seat to avoid dependency.
These are the parameters that will lead you to buy a bike at the right time. If you tick most of the above points, now is the best time to buy one for yourself. Whether you are considering a new bike or a used one, reputed lending institutions can fund them easily at an affordable interest rate.
Thus, when you need a vehicle and can afford to repay the loan, you can apply for an online bike loan to fund your vehicle. You should also consider expenses related to a vehicle, like insurance costs, taxation, maintenance costs, fuel expenses, etc. If you have considered all such factors, it is good to buy a bike now.
