Things to Keep in Mind before Buying a New Motorcycle

On the overcrowded Indian roads, where bumper-to-bumper driving is the real pain for every car driver, owning a bike is a relief. The innovation in automobile technology has pushed the bikers to invest in this sector to experience the thrill of riding a feature rich motorcycle.

If you are in the process of buying a new bike/motorcycle, then make sure to do proper research before you reach a decision. At Droom, we promote buying both new or used motorcycle that fits in your requirements. If you are more inclined towards buying a new, following are a few things to keep in mind before buying a new motorcycle:

• Understand Your Purpose and Requirements: Randomly buying any bike will be an injustice to your money. So, before you make your purchase ask yourself the basic questions – why are you buying a bike? And for what you will be using the bike? – City Riding? Touring? Stunting? Track riding? Off-road riding? or mix and match of the above options. Based on your answer, shortlist the manufactures offering the bikes as per your requirements.
• Fix A Budget: After understanding your purpose of buying a bike, fix a budget. Allocate the finances you would want to invest in buying a bike.
• Fuel Efficiency: Get information about the average mileage of the bike you want to buy. The more the average mileage the better will be the fuel efficiency. Go for a bike with better fuel efficiency as this will save you some money in long run.
• Resale Value/Depreciation: Make sure to consider the resale value or depreciation of the bike you are planning to buy. Though this is very market dependent thing, and also depends on the then condition of the vehicle, but brand value too determines the ability of a vehicle to retain its value. Check fair market price of your used bike after 3 years (3 years used as an example here) with Orange Book Value.
• Check Affordability: Before investing a huge portion of your money in buying a new motorcycle, make sure you know what is the appropriate affordable range and budget. Use Affordability Calculator at droom.my to calculate the price range of the vehicle and affordable EMI according to your current income and expenditure. Affordability Calculator takes input of your current income and expenditure to give output of affordable price range and EMI.
• Pre-Approved Loan: If you are planning to go for a loan option, then make sure to get the quotations from different banks or financial organizations. Carefully understand the terms and conditions, then pick the best one. Droom offers new motorcycles with 70% pre-approved loans.
• Calculate EMI: Know what amount of money you should shell out each month on EMI. Use EMI Calculator available at droom.my to calculate your monthly EMI, sum to be repaid, total interest to be paid, and interest & principal components of each EMI for the required loan amount.
• Rating & Reviews: All the information provided by the manufacture is not true, as it is majorly used for endorsing and advertising the vehicle. Check the genuine rating and reviews available online, which are given by authentic users and experts.
• Authorized Dealer Only: Don’t fall in the trap of cheesy discounts offered by some unauthorized dealer. Make sure you buy from an authorized dealer only. Check 2-3 dealers in your locality, as they might offer different perks and discounts. Consider buying from Droom to get best price from an authorized dealer.

Buying a bike is an important investment and decision. Ensure that you are fully equipped with all the details before taking the final call. Buy a new motorcycle based on how much you can afford and EMI payment you think you can pay per month, also consider the fuel efficiency, technical specifications, and other important factors. Though sometimes it makes more sense to invest in used bikes, but then it’s all about personal choices. Droom offers wide range of options of both used and new bikes that’s sure to fit your budget and requirements. Buy now!