When Should You Upgrade From 2 Wheeler to 4 Wheeler

Bike to Car

“Never” says the two wheeler aficionado; “upgrade?” he roars “it is actually cage up!”

“As soon as you can afford it” opines the convenience champion

“When the family size grows beyond two” suggests the pragmatic

Thus, the decision to move from two wheels to four is largely individualistic. Some safe tips, specific to 2015 context:-

  1. When the cost of ownership of the additional wheels (not just fuel .. but also service, insurance and capital !) is affordable
  2. Provided there is safe parking available – at work and at home
  3. If your spouse announces that he/she needs to keep up with the Joneses, oops Iyers, Raos, Jains or Agarwals – 🙂
  4. When your commute distances are long and constant – generally speaking two wheels are short haul, around-the-corner usage variety. A four wheeler is handy for long rides.

With the advent of taxi-hailing apps and the business opportunity it has spawned amongst drivers’n’owners, it is now one more decision point! Read on for some other views

http://www.business-standard.com/article/pf/to-hire-or-own-a-car-115092700733_1.html

The Author, Kalyanaraman M, is the Consultant – New Products with TVS Credit Services

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How to keep your credit rating at a favourable level

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A credit rating report is a summary of an individual’s past borrowing and repayment track record(s). In India, these have been popular post 2010, although many bureaus started operations post 2005 itself. Of late credit reports have enriched information such as KYC particulars, address history and declared income levels. Using the same data to derive a score is another very recent development. The country’s largest bureau has also commenced (http://www.cibil.com) selling individual’s credit reports to the subject directly. A wealth of information can be found in the other bureaus also – http://www.equifax.co.in, http://www.experian.in and http://www.crifhighmark.com

The safest way to maintain a good standing is to meet all lender-obligations in a timely manner. (To achieve the same, the individual must maintain his/her credit obligations – both short and long term, meaning all credit card minimum dues and longer tenure loans as for example, purchase of a car or home). Naturally, good behavior builds viz., an individual who has had a string of positive loan track records is likely to be sanctioned a higher amount during the next request.

The opposite is equally true!!

Patchy repayment records bring down the rating report and also pull down the individual’s credit score. Sure, this can happen – after all, life is a combination of both downs and ups. There are times when one needs to keep basic ends met – leave alone repayment of contracted obligations. Hence delays and defaults could happen despite the best of intentions. Some tips to tackle the same:-

  1. Keep the lender informed about the scenario and seek temporary relief in terms of a holiday period with lower contracted interest rate
  2. Do not drop the repayment to zero – can a small (e.g., minimum due) be met so that lender is comforted that person’s intention and effort are behind the repayment
  3. Go for credit counselling in case there are many transactions
    1. Bank of India’s http://abhaycreditcounselling.com
    2. ICICI’s http://www.dishasfc.org are two examples
  4. Rebuild your credit history (resurrection!) after settling with the lenders
    1. Recently companies such as Credit Vidya, Credir Sudhaar and Credit Mantri have established frame works to accelerate the process

The Author, Kalyanaraman M, is the Consultant – New Products with TVS Credit Services

Bikes Vs. Cars – Which One’s For You?

Bike Vs Car

Ready to get your own wheels, but caught between picking a bike and indulging in a scooter? That’s a fully valid dilemma – well, what if you want to impress the ladies and wind up picking up a sputtering old contraption from a scientist’s outhouse? Or what if your wife wanted something durable that would help sustain the family’s transport needs, but you suddenly thought you had an inner need-for-speed-biker man that you had to channel? Before you make a decision without all that you should know, hang on: we have something for you to keep in mind!

  • Think about the weight of the vehicle. If you want something light, invest in a scooter rather than a motorcycle. Motorcycles are more suited to those with the appropriate physique to handle its demands. You don’t want to look like a snail, now, do you? Scooters are totally for you if you’re not up to doing weight training while getting from end to end.
  • And now, think about the weight of the load on your pocket. Do you have a good budget to blow money on? If that’s the case, indulge in a motorcycle. A scooter is the middle class family’s dream – and you’ll do best to go for it if you’re on a tight budget.
  • If you’re looking for an easy drive, buy a scooter rather than a motorcycle – a scooter doesn’t have a gear and clutch system, which makes the process of driving it quite simple – almost as easy as riding a cycle! You won’t need to focus on the gear position and all those extra things that will take attention of the road.
  • If you want to get around from point to point with a lot to carry, a scooter is a better option. But if you’re a light traveller and don’t exactly transport all your family wealth day in and day out, fly around in a motorcycle already!
  • If fuel efficiency is your core concern, then ditch the scooter. The motorcycle is far more fuel efficient in comparison with the scooter. A very good Motorcycle can give you 70 Km/litre in terms of mileage, but a scooter – even a very good model, can give you a maximum of 55-60 Km/litre – which still makes it a fraction in comparison.
  • If you’re looking for a good amount of speed to be maintained since you’re travelling fairly long distances, buy a motorcycle than a scooter. With a scooter, there are slight chances of having to leave yesterday to reach tomorrow.
  • What kind of terrain are you looking to loop around? If you have rough and tough terrains that need to be charted out with a fairly rugged vehicle, a motorcycle makes more sense, especially for badly conditioned roads and hilly terrains. But a scooter may not do so well in such a setting – and works better for smoother and easier terrains.

Source:

http://www.hellogiri.com/scooter-scooty-vs-bike-motorcycle/

http://kathmandupost.ekantipur.com/news/2014-12-24/scooters-vs-motorcycles-whats-better-for-commuting.html