Blogs by Harsh Mittal

How to find the perfect bike for you?

Bikes5 min read
Contents

I recently went through the process of choosing my very first bike, like everyone I too was a novice in bikes, and with so many options in the market, it was a little overwhelming for me. I will go through the process of what I went through for selecting my bike and hopefully, it might answer some of your questions, if not then maybe it will give you a different perspective.

Is bike the right choice for you?

Before jumping into searching make sure why you need a bike. Do you actually need one or Uber/Ola/Rapido/Metro is best for you?

Who Should Not Own a Bike?

  • You travel a lot (Obviously not by 2-wheeler): The bike needs care and constant maintenance, plus if you see practically then you won’t really get a chance to ride. It’s better if you can rent a bike or borrow it for occasional usage.
  • Safety: If you are concerned about safety better go for 2 2-wheeler.
  • Big Family: Prefer 4-wheeler if you plan to travel with them.
  • Don’t have enough savings: EMI can be your worst enemy, don’t listen to influencers saying otherwise.

Who Should Own a Bike?

Everyone!!! 😉

I know it’s contradicting but at least once in your lifetime own a bike.

Requirements

This should be the first thing you start with, most people go to showrooms and see bikes and then try to think whether it works for them or not. But in reality, it’s better if you have some idea of what you require out of your bike.

  • Type: Bike/Scooty/EVs (Choose Petrol Options, trust me on this!!!)
  • Brand: Any desired brands
  • Primary Use: Commute/Traveling/Hobby/Racing
  • Secondary Use: Commute/Traveling/Hobby/Racing
  • Budget: Rough Idea, more we’ll talk later
  • Max Running Cost: Service Cost + Avg Petrol + Minor Repairs + Insurance
  • Basic Features: Bluetooth, Display Type, Riding Modes etc.
  • Deal breakers: Anything that is not there then you will not even consider it.
  • Great to Have: Anything extra that will be the cherry on top.
  • Safety: Stability, Tyre Types, Break Types
  • Max Speed: Mostly for travelers and racing enthusiasts.

Obviously there are other things to consider as well but we’ll come into each one of them.

Budget

Initial Budget

The bike’s price depends on its type, engine capacity, and brand. Let’s break down some approximate price ranges in INR:

  • Commuter Bikes (100cc - 125cc): ₹80 thousand to ₹1 lakh

  • Entry-Level Sports Bikes (150cc - 300cc): ₹1 lakh to ₹2.5 lakhs

  • Cruisers (150cc - 450cc): ₹1.5 lakhs to ₹4 lakhs

  • Premium/Superbikes (500cc and above): ₹5 lakhs and upwards

Tip: Choose a bike that fits your usage needs, not just one based on its price tag. While higher-end bikes might be tempting, they often come with higher maintenance and running costs.

On-Road Price (Additional Costs)

Remember that the price you see on the showroom floor isn’t the final price. The on-road price includes various additional costs:

  • Registration Fees: ~₹5,000 to ₹30,000 or more depending on the state and bike category.

  • Insurance: Starting at ₹2,000 for commuter bikes and going upwards of ₹50,000 for high-end bikes.

  • Road Tax: Varies from 5% to 12% of the bike’s ex-showroom price, depending on the state.

  • Accessories: Helmets, guards, covers, etc., can add ₹2,000 to ₹50,000 to the total cost.

Hidden Costs to Consider

Besides the on-road price, there are hidden costs you should be aware of:

  • Fuel Costs: Daily commuting can significantly add to your expenses. For instance, if your bike gives 40 km/l and you travel 30 km daily, your monthly fuel cost will be around ₹2,700 (assuming fuel at ₹100/litre).

  • Maintenance: Routine servicing every 3-4 months costs around ₹800 to ₹2,000 for commuter bikes and much more for premium ones. Factor in unexpected repairs as well.

  • Spares & Parts: Depending on usage and wear, replacing tires, brake pads, or chains can cost anywhere from ₹2,000 to ₹10,000 annually.

Why Avoid EMI (Equated Monthly Installments)?

While EMIs might seem like a convenient option, here’s why you should avoid them if possible:

  • Higher Total Cost: When you buy a bike on EMI, you’re also paying interest on the loan amount. Interest rates for two-wheeler loans typically range from 8% to 12% per annum. So, you end up paying much more over the loan tenure.

  • Strain on Monthly Finances: EMIs add to your monthly expenses, limiting your savings or spending on other essential needs. It’s a financial commitment that continues for years.

  • Depreciation: Bikes lose value rapidly. By the time you finish paying off the loan, the bike’s resale value may have dropped significantly, making it a poor investment.

If EMI is the only option

If you absolutely cannot avoid taking a loan, here’s how to do it wisely:

  • Limit Loan Amount: Try to make at least a 30-50% down payment. This reduces the loan amount and the interest you’ll pay.

  • EMI Should Not Exceed 10-15% of Your Income: Ideally, your EMI payments should not be more than 10-15% of your monthly income. This ensures that the loan doesn’t become a financial burden. Example:

If your monthly income is ₹50,000, aim for an EMI between ₹5,000 to ₹7,500.

  • Choose Shorter Tenures: Opt for the shortest tenure possible (12-18 months) to minimize the interest. Longer tenures may reduce your EMI but will increase the total interest paid over time.

Tips for Managing Your Bike Budget

  • Save in Advance: The best way to buy a bike is by saving up in advance. This allows you to avoid EMIs altogether and make a full payment.
  • Consider Pre-Owned Bikes: If your budget is tight, buying a well-maintained second-hand bike can be a cost-effective solution.
  • Factor in Resale Value: Some brands and models hold their value better. Research resale prices to understand how much your bike could fetch after a few years.