Insurance is like a spare tyre. You may not require it, but not having one is not an option.
Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • Documents Required To Purchase New Two Wheeler

    List of documents required to buy new two wheeler in India:

    What are the Documents required to Purchase a New Bike?

    Given the congested riding conditions in Indian cities, where traffic moves at a snail’s pace, a two wheeler can is often the most suitable form of commuting. Not only are they easy to maneuver through traffic, but also require far lesser space for parking, making them ideal for in-city travel. Be it travelling going to pick up groceries, travelling to work, popping over to a nearby store, making a quick trip to a friend’s house, a two wheeler helps save considerable time.

    In case you are planning to buy a two-wheeler, do be prepared to provide documents which will be required by the dealer, the bank (in case you are taking a loan) and the two wheeler insurance company. Following are the documents which you will need to provide.

    Documents required For Vehicle Registration:

    1. Passport size photograph

    2. Attested copy of ID proof – Driving License or PAN Card

    3. Proof of Permanent Residence (attested copies) – Passport, Voter ID Card, copy of LIC policy.

    In case you do not have any of the aforementioned documents, you may provide any of the following documents as an alternative. Please note, the documents must be duly attested.

    • Electricity Bill
    • Phone Bill (BSNL Land Line)
    • Ration card
    • House Tax Receipt from corporation
    • Index II

    In case you are purchasing a two-wheeler in a city other than that of your residence, these are the additional documents you will be required to provide. All documents provided must be duly attested.

    • Copy of Registered Rent Agreement.
    • Copy of your landlord’s electricity bill.
    • Letter From Your Employer or Bonafide Certificate from your college.
    • Original Affidavit

    Documents Required To Buy A Two Wheeler On EMI

    Buying a two wheeler and making the payment in full may not be possible for everyone as some of these bikes or scooters today are really expensive and people may have budgetary limitations. Even if you cannot pay in full, you do not have to delay your purchase as you can always finance your bike up to 100% and repay the amount in easy, flexible EMIs.

    You can purchase a two wheeler on EMI if you are a salaried individual or a self-employed person. The rate of interest, processing fee, EMI bounce charges, etc. on these loans may vary based on the lender. While most banks offer 2-wheeler loans, private financing firms such as Bajaj Finserv and Tata Capital have also gained popularity. The EMI facility can also be availed from two-wheeler dealers who have tie-ups with various lending firms.

    The tenure for such loans may vary from 6 to 60 months based on the facility offered by the lender. You may check your two-wheeler loan eligibility and compare different options before choosing a particular EMI facility provider. Here are the list of documents that you might need to buy a new bike on EMI.

    Documents Required By Salaried Individuals

    • Proof of Identity: Aadhar Card/Pan Card/Passport/Driving License/Voter ID and passport size photos.
    • Proof of Address: Driving License/Passport/Voter ID/ Aadhar card/ Utility Bill/Bank statement
    • Income Proof: Bank statements of Last 3 months, salary slips of last three months/Salary Certificate/Form 16.

    Documents Required By Self-Employed Individuals

    • Proof of Identity: Aadhar Card/Pan Card/Passport/Driving License/Voter ID and passport size photos.
    • Proof of Address: Driving License/Passport/Voter ID/ Aadhar card/ Utility Bill/Bank statement
    • Income Proof: Income Tax Return (ITR), Last 3 months’ bank statements
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