Can I finance the full cost of a two-wheeler with a business loan?

Yes, full financing for a two-wheeler purchase is possible by utilising business motorcycle loans from banks, non-bank financial services, or other lending firms. These loans target independent contractors, sole owners, partnerships, corporations, and similar entities to obtain vehicles for commercial needs.

For a two-wheeler business loan, qualifications such as the following may be considered:

• Having an established enterprise for a minimum of 2-3 years (startups can also apply)
• Supplying official registration documents such as Goods and Services Tax (GST) IDs, trade permits, etc.
• Past financial statements for the business spanning 2-3 years
• Satisfying minimum gross revenue thresholds

Key potential advantages of two-wheeler business loans include:

• Depending on the loan provider, businesses can get up to 100% financing of the two-wheeler's on-road price
• Adjustable repayment options with a tenure of up to 5 years or more
• Attractive interest rates and low Equated Monthly Instalments (EMIs)
• Minimal documentation and faster processing
• Secured loans where the two-wheeler is kept as collateral

While applying, you must submit your Know Your Customer (KYC), business documents, financial statements, business continuity proofs, credit score records and any existing loan details.