Here is How You Can Decide the Amount of Hero Bike Down Payment That You Should Pay

How You Can Decide the Amount of Hero Bike Down Payment That You Should Pay

While the consumers have an abundance of stylish, sturdy and power-packed bikes, Hero bikes continue to be on the top of everyone’s list of preferences. Besides their unique design and ability to deliver a decent performance, many of them are even highly fuel-efficient. Also, this bike manufacturer provides an extensive catalogue of basic to premium bikes in order to align with the diverse budget requirements of the consumers. However, purchasing a brand-new bike by exhausting all your savings is definitely not a wise choice to make as this way; you are left with no money to meet the emergency needs. But you no longer have to worry, as for such situations, as financial institutions offer a well-customised bike loan.

With the help of this loan, you can pay for the entire cost of your favourite bike in the form of well-equated monthly instalments. Before agreeing to the terms of the agreement, you must keep in mind that the amount of your Hero bike down payment will majorly influence the EMIs you will be paying every month. As the higher is the down payment, the lesser will be the instalments and at the same time, you will experience minimal financial stress.

How much amount you should pay as down payment and EMI?

• The amount of money you can pay as down payment depends entirely on your repayment capacity. And to find that out, you need to approach a lender to first know your credit score so that he can then give a fair idea of how much amount can be sanctioned as a loan and how much you have to pay from your own pocket.

• If you are well aware of the price of the bike and your ability to handle the debt, you can easily calculate the amount you can pay as the down payment. Also, since the bike loan at the end of the day is a liability, it is recommended to pay as much down payment as possible.

• Once you have a favourable loan offer with you, you can use an EMI calculator, and enter the details such as loan amount, interest rate and tenure to find that instalment amount, which can align with your financial condition. With the results generated through the calculator, you will be able to assess how much the loan will set you back and how much you should pay as the down payment to reduce your monthly financial burden.

Factors that affect the down payment amount

Before finding ways to reduce your EMI amount, you should also know about the factors that can affect your down payment and hence, must be taken care of.

• Cost of the bike – Clearly, the cost of the bike you wish to purchase acts as a major deciding factor for the amount you will pay as the down payment. For instance, if you purchase a high-end bike model of INR 1,00,000, then you will be paying a larger Hero bike down payment as compared to when you purchase a bike, which is of INR 60,000.

• Buyer’s credit score – Another extremely important factor that influences the down payment amount is your credit score. If you have a good credit score, then you can get a larger loan amount, which again will reduce your burden of paying a huge down payment amount. But, in case, you have a low credit score, then your creditworthiness will get affected and the lender may offer you a short amount of loan.

• Borrower’s repayment capacity – Undoubtedly, your repayment capacity also decides the amount you will be willing to pay as the down payment. If you have all your budget in place and have a stable source of income, then chances are that you can afford larger EMIs and thus, can pay a less amount of money towards the down payment to reduce your immediate burden. However, you must remember that it is always better to make a larger down payment in order to reduce your stress in the long run.


To sum up, when it comes to deciding Hero bike down payment, you must first assess your ability to make the repayments. If you have a sufficient amount of funds with you, then it is better to make a larger down payment and apply for a less amount of loan. Above all, you must use the EMI calculator available online to find out exactly how much money you will be asked to pay for the monthly instalments.

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