Two-wheelers are a popular choice of transportation when it comes to convenience and affordability. With increasing congestion among the metro and non-metro regions, there has been a steady increase in demand in the during the last decade.
With evolving technologies, electric two-wheelers are also available in 2021. Available at different price points, it can often be a bewildering experience knowing which is the right two-wheeler among the myriad choices.
While it not a straightforward choice considering the permutation for which it can be used, this article enlists some of the considerations to remember, especially for new riders when it comes to buying their first two-wheeler.
The most important consideration when buying a two-wheeler is considering your budget. Your budget will determine the available options based on the market offerings. As they say, put your ducks in a row, it is beneficial you determine how much you can spend before scouting for options. At this stage, your budget will also assist in deciding whether you can go for a new two-wheeler or a pre-owned one. That being said, do not restrict yourself within a specific budget only. You might discover more better options at an affordable price too.
The next thing that follows your buying capacity is the usage. Your usage determines what should be your pick. If you plan on riding this vehicle for long distances, you need to look in the touring category whereas city commutes can be well managed on scooters too. Thus, your usage plays a critical role. After considering your budget, you can also understand what available options are based on your needs. At this stage, you accordingly will be required to get a two wheeler insurance too.
#3 Maintenance and service
Overlooking maintenance and service cost is often a rookie mistakeat the time of buying a two-wheeler. But in fact, it is one of the essential after sales expenditure. You might end up buying a bike, but its upkeep and repairs are crucial to keep it live and running. So, make sure to not ignore this cost too.
#4 Insurance cost
Apart from the purchase cost of your two-wheeler, insurance and registration are other components that are included in the on-road price. While registration is for a period of 15 years and a substantially long duration, insurance is one cost that keeps recurring annually. Hence, you need to consider this recurring cost too. A twowheeler insurance third partyor comprehensive policyis also based on the above factors like usage and cost of repairs. High end expensive bikes require hefty sums to repair and thus, a comprehensive coverage is advisable. Since insurance renewal is a recurring expense, ensure you select a policy that fits your budget too.
#5 Resale value
Not all who buy a two-wheeler use it for a lifetime. Motor enthusiastsreplace their garage every few years to have the new and latest vehicle. At such times, it is advisable to also check the resale value.
These are some pointers that new buyers need to remember when buying a two-wheeler. Not only it can ease in buying process, but also aid in selecting the right vehicle based on the above-mentioned considerations. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.
Krishna Murthy is the senior publisher at Finance XOD. He is not only the senior publisher but also the owner of Tricky Finance. Krishna Murthy was one of the brilliant students during his college days. He completed his education in MBA (Master of Business Administration), and he is currently managing the all workload for sharing the best banking information over the internet. The main purpose of starting Tricky Finance is to provide all the precious information related to businesses and the banks to his readers.