Smart ways to save money when buying a new bike


Considering the increasing number of four-wheelers on Indian roads, traffic congestion is unavoidable. However, working individuals need to commute every day despite this menacing traffic. Since it’s impossible to avoid congestion, one can beat the traffic by opting for a two-wheeler. 

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Two-wheelers are an affordable option for individuals with a limited budget. Focusing on that, this article provides a few tips on saving money while purchasing a new bike.

Ways to save money while buying a new bike

 Choosing a particular two-wheeler brand, engine size, and style can be overwhelming, especially if one plans to save money. However, if spent smartly, one can get the best deals in an affordable range. Here are the top three ways that can help a bike-owner to save the maximum amount during their new purchase:

1. Pay in cash

Buying a new two-wheeler in cash can be a financial burden, but if planned correctly, it can save one from paying extra interest. Moreover, paying the entire amount in cash facilitates negotiation options enhancing the chances of discounts on the total MRP.

On the other hand, one can opt for a personal loan from a preferred bank at a lower interest rate without draining the cash. Using a bike loan EMI calculator one can quickly assess the EMI amount they need to pay and then choose the right loan amount accordingly. One should also note that the bike’s expenses include insurance, road tax, State Registration charges, and others.

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2. Ideal timing

Buyers can save up their pennies by planning their purchases during offers. For example, maximum dealers offer attractive discounts during March to complete their target within the financial year. Thus, buying a new bike during this time can be super-saving. 

Moreover, most buyers avoid buying motorcycles during the monsoon months, considering the harsh climates. Thus, dealers give away heavy discounts during these months.

3. Fix a budget 

Before purchasing a new two-wheeler, a buyer must go through adequate research on the selected model’s pricing, maintenance, and durability. It will help the buyer to plan the finances accordingly. Moreover, fixing a budget will help calculate the EMI amount they can pay for the bike without disrupting the monthly expenses.

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Get your new bike insured. 

While purchasing a motorcycle, an owner must opt for a bike insurance policy. Moreover, as per the Motor Vehicles Act 1988, it is mandatory for every bike owner to insure their vehicles against third-party liabilities. Any violation of this rule can bring hefty penalties and even imprisonment.  

There are two types of bike insurance policy plans:

  • Third-party bike insurance: This insurance policy covers the policyholder financially during a third-party loss or damage.

Note: One can opt for standalone OD insurance along with the third-party insurance plan to get coverage for own damages.

  • Comprehensive bike insurance: On the other hand, a comprehensive bike insurance policy covers damages to both the owner and third party. It covers the financial expenses incurred due to the losses and damages caused in an accident to the owner, third-party lives, and property. 

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Apart from that, one can extend the coverage of a comprehensive bike insurance policy by purchasing add-ons. It will help maximize the benefits of a comprehensive bike insurance policyholder.


Purchasing a new bike is like a dream come true but getting it insured and planning your finances to get the best deal needs a bit of prior planning. This article offers tips to help one purchase the dream bike while saving money efficiently.