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Reasons and Benefits of Owning a Two Wheeler in City

Reasons and Benefits of Owning a Two Wheeler in City

Reasons and Benefits of Owning a Two Wheeler in City

A two-wheeler can provide comfort and convenience when travelling from one place to another. Find out why you need to own a two-wheeler in the city.

Modern-day lifestyle has become fast-paced. People nowadays look for quick solutions to their needs. This is perhaps the reason why the online mode of doing business has become so popular. It offers quick and hassle-free solutions for your requirements.

When it comes to conveyance, the public transit mode is gradually losing appeal. Whether it is due to inconvenience, the long hours involved, or simply due to non-availability, the public transport system has various problems. In such situations, many individuals prefer owning their own mode of conveyance.

Vehicle options for city dwellers

When it comes to owning a vehicle, you have two options ‒ a four-wheeler, i.e., a car, or a two-wheeler, i.e., a bike or a scooter.

Cars, though comfortable, have their shortcomings, the major one being the cost. Not everyone can afford cars, and hence four-wheelers are not the go-to conveyance mode for most middle-class individuals. Secondly, cars are prone to face traffic congestion. In developed metropolitan cities like Mumbai, Bengaluru, Delhi, etc., navigating in the peak-hour traffic in a four-wheeler is a nightmare. Moreover, finding a suitable parking space is also a cause of concern.

Then what should individuals do?

The answer is quite simple ‒ a two-wheeler.

The purpose of owning a two-wheeler in the city is that it will help you overcome the problems you may have faced if you owned a car or used public transport. Two-wheelers are extremely useful for commuters, and India is considered one of the largest markets for two-wheelers. In fact, as per studies, two-wheeler sales in India stood at 21.19 million in the year 2019. Forecasters predict that the two-wheeler market will grow at an expected CAGR (Compounded Annual Growth Rate) of 7.33%. This would put two-wheeler sales at 24.89 million by the year 2024.

The numbers show that two-wheelers are popular modes of transport for many Indian households. Owning a two-wheeler is thus highly recommended if you are looking to buy a vehicle of your own. Here are a few reasons to own a two-wheeler in the city -

  • Affordable

The basis to own a two-wheeler in the city is that it does not require considerable funds. The prices start between Rs.40,000 and Rs.60,000, and if you buy a second-hand vehicle, the prices reduce further. Moreover, the cost of maintaining the two-wheeler is also low. Given their affordability, a two-wheeler is within reach of even lower-income group households. For middle-income families, two-wheelers become a convenient choice as well.

  • Economical

Besides being affordable, other benefits to own two-wheelers in the city include cost-effectiveness. Two-wheelers are quite economical. Firstly, they give good mileage. One litre of petrol allows you to easily drive 40 to 50 kilometres. Given the ever-increasing prices of petrol, driving a two-wheeler is more cost-effective than driving a car.

Moreover, if you consider the cost of annual servicing, two-wheelers have low service costs that make them really cost-effective. Even if you suffer damages, the repairs do not involve considerable expenses. Lastly, the parking fee and toll charges payable for two-wheelers are also low, making the vehicle quite economical for your pockets.

  • Safety

With the pandemic highlighting the need for safety and prevention, travelling in public transport has become quite challenging. More and more commuters are looking for alternative modes of transportation to travel safely. This is where two-wheelers prove their worth. With your two-wheeler, you can commute without the fear of compromising on hygiene or being exposed to the virus.

Also, for women commuters, two-wheelers provide a safer mode of commute as they can avoid the crowds in mass-commuting transport. Women travellers can travel anytime, safely, when they use their own vehicle.

  • Convenience

In the case of emergencies, you might not find public transport available when you need them. Alternatively, if your destination is not properly connected by public transport, you might find it challenging to reach the place. Even ride aggregator services are not always available to serve you when you need them. In such cases, owning a two-wheeler is quite convenient. You can travel whenever and wherever you want without having to depend on the availability or connectivity of public transport.

  • Ease of navigation

If traffic congestion is a common challenge in your commute, you can overcome this challenge with a two-wheeler. Given their sleek design, two-wheelers are extremely easy to navigate the hustle and bustle of heavy traffic. It is easy to manoeuvre and relatively lightweight.

  • Ease of parking

Finding a spot to park your two-wheeler is quite easy compared to finding a spot for a car. The sleek design of the two-wheeler requires comparatively less parking space; space is always at a premium in metropolitan cities where car parking is a challenging task.

  • Fast

Two-wheelers and speed complement one another. Two-wheelers let you travel quickly because you can easily navigate the traffic, even in peak hours. You can also use narrow shortcuts when driving a two-wheeler. Thus, your commute becomes quicker, and you can reach your destination faster.

  • Low insurance premiums

The Motor Vehicles Act, 1988, governs the traffic rules in India. The Act mandates your vehicle to be insured to run on Indian roads. A two-wheeler insurance policy is much cheaper than a four-wheeler plan; thus owning a two-wheeler is easier on your pocket.

  • Ease of financing

Lastly, if you have the objective to own a two-wheeler in the city, you can easily fulfil it because of the several financing options available at your disposal. Banks and non-banking financial companies offer two-wheeler loans at affordable interest rates so that you can buy a two-wheeler as per your requirement. These financing options allow you to own a two-wheeler without putting a strain on your finances.

So, if you are thinking about owning a vehicle, go for a two-wheeler. To finance your two-wheeler, you can opt for Shriram Finance Two Wheeler Loan. Some of the salient features of Shriram Finance two-wheeler loans are as follows -

  • Up to 100% financing of the on-road price of the two-wheeler
  • Minimal documentation
  • Quick disbursals within 24 hours
  • Ease of online application
  • Competitive interest rates starting at 11.5% per annum

So, with a Shriram Finance Two-wheeler Loan, you can own the bike that you have been eyeing without worrying about your budget. The loan is affordable, convenient, simple, and hassle-free, and backed by the trusted service of the Shriram Finance.

Get a two wheeler loan at low interest rates