In a country like India, bikes are trendy as they help people in commuting quickly amidst traffic jams. Considering the fact that nowadays nuclear families are in vogue, bikes are more preferred due to convenience and economical usage. Another reason for the increase in bike buyers and riders is the majority of the young population, among which the youth between 18-25 years, prefers bikes due to their passion and swag. In India, the two-wheeler industry is said to be one of the largest of its kind across the globe. Other significant reasons for the rise in two-wheeler purchase is that they are readily available to Indians and many banks and NBFCs provide cost-efficient two-wheeler loans.
Additional Interesting Facts About Two-Wheelers in India
Some of the top two-wheeler companies in India that offer bikes and scooters include Bajaj Auto, Yamaha, Hero Motocorp, TVS Motor, Honda Motorcycle & Scooter India (HMSI), Royal Enfield, etc. The Indian market also contains bikes made by foreign bike manufacturers.
Some of the best-selling bikes of the year 2017 were Aprilia SR 150, Honda Dio, Honda Activa 4G, Hero Glamour 2017, TVS Apache RTR 160, etc.
The next generation of bikes in India will mainly consist of electric two-wheelers, which will run on electricity rather than petrol or diesel. The country has already seen a fantastic start of electric bikes being introduced by Electrotherm and Hero Electric. There are a few other companies which are working towards the development and release of electric scooters. It includes Yamaha, Bajaj Auto, Mahindra Two Wheelers, and TVS Motor. These bikes will use lithium-ion (Li-ion) batteries to operate. Ather Energy is another company which will release its first electric scooter in India by the name, Ather S340.
Besides Indian manufacturers, there are foreign bike manufacturers too, who are interested in selling their vehicles in the market of India. Some of the different bike manufacturers who are already selling their cars in India include Harley Davidson, Suzuki, Ducati, and UM Bikes.
Why Choose a Two-Wheeler Loan?
Considering the increasing number of private cars in the urban regions of India, the rural area transportation may be judged by similar trends. But the fact is that the majority of the rural demographics can afford a two-wheeler, mainly due to convenient access to bike loans and infrastructure. So, once the loan repayments for the old two-wheeler are made, you can think of buying a new vehicle. Though lots of people in India can buy an entry-level vehicle without any loan, it may cause much distress, regarding finances for the family. Also, that amount could be used for making investments such as mutual funds, fixed deposits or just for buying two-wheeler Insurance. In other words, purchasing a two-wheeled vehicle with a loan can reduce the burden of buying it with the whole amount in a single month.
Majority of the population fall under the bracket of availing the facility of completing payments through EMIs, which is another reason behind choosing the loan. Two-wheelers have much lower maintenance costs in comparison to four-wheelers, and the mileage or fuel consumption is better in the former.
The Indian credit market provides several options in the form of banks with competitive interest rates. They even offer the combos for loans and insurance packages, and sometimes come with the advantage of paying through post-dated cheques.
Additional Interesting Facts About Two-Wheelers in India
Some of the top two-wheeler companies in India that offer bikes and scooters include Bajaj Auto, Yamaha, Hero Motocorp, TVS Motor, Honda Motorcycle & Scooter India (HMSI), Royal Enfield, etc. The Indian market also contains bikes made by foreign bike manufacturers.
Some of the best-selling bikes of the year 2017 were Aprilia SR 150, Honda Dio, Honda Activa 4G, Hero Glamour 2017, TVS Apache RTR 160, etc.
The next generation of bikes in India will mainly consist of electric two-wheelers, which will run on electricity rather than petrol or diesel. The country has already seen a fantastic start of electric bikes being introduced by Electrotherm and Hero Electric. There are a few other companies which are working towards the development and release of electric scooters. It includes Yamaha, Bajaj Auto, Mahindra Two Wheelers, and TVS Motor. These bikes will use lithium-ion (Li-ion) batteries to operate. Ather Energy is another company which will release its first electric scooter in India by the name, Ather S340.
Besides Indian manufacturers, there are foreign bike manufacturers too, who are interested in selling their vehicles in the market of India. Some of the different bike manufacturers who are already selling their cars in India include Harley Davidson, Suzuki, Ducati, and UM Bikes.
Why Choose a Two-Wheeler Loan?
Considering the increasing number of private cars in the urban regions of India, the rural area transportation may be judged by similar trends. But the fact is that the majority of the rural demographics can afford a two-wheeler, mainly due to convenient access to bike loans and infrastructure. So, once the loan repayments for the old two-wheeler are made, you can think of buying a new vehicle. Though lots of people in India can buy an entry-level vehicle without any loan, it may cause much distress, regarding finances for the family. Also, that amount could be used for making investments such as mutual funds, fixed deposits or just for buying two-wheeler Insurance. In other words, purchasing a two-wheeled vehicle with a loan can reduce the burden of buying it with the whole amount in a single month.
Majority of the population fall under the bracket of availing the facility of completing payments through EMIs, which is another reason behind choosing the loan. Two-wheelers have much lower maintenance costs in comparison to four-wheelers, and the mileage or fuel consumption is better in the former.
The Indian credit market provides several options in the form of banks with competitive interest rates. They even offer the combos for loans and insurance packages, and sometimes come with the advantage of paying through post-dated cheques.
