123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Investing---Finance >> View Article

Right Reasons To Take Two Wheeler Loan In India

By Author: Neha Sharma
Total Articles: 108

The Indian society perceives two wheelers as an asset for travelling, especially the middle class. In cities where traffic is prominent, a two wheeler liberates these individuals from the hectic monotonous public transport system. Various finance institutes also make funding for the two wheeler vehicle an easy process. However, before buying this seeming asset, on should consider the few details before taking a two wheel loan.

Credit scores
Your credit scores play an important role in the deciding factor for your two wheeler loan. Most lenders perceive two wheelers as risky, as they can be easily stolen or destroyed in an accident, especially in India. Because of this, the requirements are more stringent with two wheeler loan than with car loans. Ensure that you have not missed any payments during your previous credit repayments, as this may indicate uncertainty from your end, and a possible high risk factor. Always create a budget before you apply for the loan. This may also include the amount, tenure of repayment, and EMIs which can be calculated using the two wheeler loan EMI calculator.

Short tenure
Normally, the tenure for two wheeler loans does not exceed 84 months, which can be as short as 12 months too. Most two wheeler applicants go for a short period as a lender does not charge a high interest rate on a short tenure loan. You can always go for a short loan as it carries a less risk for lenders, as it carries a lower chance of unexpected change in the financial situation which will force the loan into a default status. Calculate the right EMI for you with the two wheeler loan EMI calculator to suit your needs. Comparatively, high monthly payments with a short tenure, means the lender will receive the principle sum faster and you will have to spend less time paying for it. To calculate the right EMI for your loan, you can always use the two wheeler loan EMI calculator that is normally available on the website.

While are various other reasons to get a two wheeler loan in India, there is other variables that influence the decision to take a two wheeler loan. Such factors like having a normal two wheeler to satisfy your basic need for comfortable traveling as compared to a super bikes to satisfy your need for style and class will not only influence your budget, but also your responsibility for the loan repayment.

Author Bio :- Neha Sharma; a finance student, is well versed in the knowledge of two-wheeler loan, and two wheeler loan EMI calculator. She wishes to share this information to the public in the hole they can benefit from it.

Total Views: 128Word Count: 449See All articles From Author

Investing / Finance Articles

1. Why Invoice Invoice Factoring Financing Is Better Than Bank Overdraft Credit?
Author: Stephen Perl

2. Apoyos Para Negocios En 2017
Author: Martin

3. How Do You Master Mind Your Long Term Loans Without Collateral?
Author: Jenny Elmore

4. Algotrade Helps You Make Consistent Profits In Forex Market
Author: johnsyanol

5. The Guide To Choosing The Best Stock Trading Advisory Service
Author: Dharmesh Patel

6. What Should An Executor Of A Will Do To Get Grant Of Probate?
Author: Probate a Will

7. Trade12 Provides A Perfect Educational Experience For New Traders!
Author: Trade12

8. Home Loan Rate Comparison – Why Is It Important?
Author: Kimberly Ash

9. The Benefits Of Getting A Reliable Mortgage Broker Harrogate
Author: Brian Miller

10. All You Need To Know About Co – Signing A Loan
Author: Neha Sharma

11. What Are The Insurance Policies To Opt For In Your Early 30's?
Author: Neha Sharma

12. Multi – Currency Card: How To Pay Less For Foreign Currency
Author: Neha Sharma

13. Debit Card: Teach Your Children To Be Financially Smart With These Tips
Author: Neha Sharma

14. How To Save Up For A Financial Goal With The Recurring Deposit Calculator
Author: Neha Sharma

15. Step Up Your Investment Savings With A Recurring Deposit
Author: Neha Sharma

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: