Two-wheelers are one of the most popular modes of transport in India, and financing them
through a two-wheeler loan is now easier than ever. However, while applying for a bike loan,
many buyers unknowingly make mistakes that can lead to loan rejection, higher EMIs, or
unnecessary delays.
- Not Checking Your Credit Score (CIBIL)
Your credit score is a key factor that lenders evaluate before approving any type of
loan—including a two-wheeler loan. A low CIBIL score can lead to rejection or higher interest
rates. - Inadequate Documentation
Submitting incomplete or incorrect documents is a common reason for home loan application
delays or rejection. - Overestimating Loan Eligibility
Just because you earn a steady income doesn’t mean you’ll get the full home loan amount you
desire. Lenders also consider your existing EMIs and financial obligations. - Not Factoring in Additional Costs
Apart from the vehicle cost, you may need to pay for insurance, registration, accessories, and
taxes. Many people take a loan for the on-road price but forget to keep buffer funds. Two
wheeler loan requires attention on small details.
Conclusion
Applying for a two-wheeler loan is a convenient and practical way to finance your dream bike.
However, overlooking small details during the process can lead to delays, higher costs, or even
rejection.
