Hi everyone,
I visited Honda BigWing East Delhi and got a quotation for the Honda CB350RS. Sharing the full breakdown and loan options I’ve been offered. Would appreciate some advice on whether I should go with the dealer’s bike loan or a personal loan.
Bike Price Breakdown:
Ex-showroom: 199,990
RTO: 16,500
Insurance (1 year + 4 year): 14,394
Extended warranty (3+3 years): 4,049
RSA: 1,999
Total with everything: 236,932
Total without RSA and extended warranty: 230,812
Loan Option 1: IDFC Bike Loan (through dealership)
Loan amount: ~86,932 (after 1.5 lakh down payment)
Tenure: 12 months
Interest: 6.99% (flat rate)
EMI quoted: ~8,300 per month (inclusive of processing, etc.)
Loan Option 2: HDFC Personal Loan
Loan amount: 87,000
Interest: 10.99% per annum (reducing)
EMI: 7,689 per month for 12 months
My situation:
I can pay full amount in cash, but that would leave me with around 30k–80k depending on how much I put down
I’m leaning toward paying 1.5 lakh upfront and financing the rest
Questions:
Is the IDFC bike loan actually more expensive because it’s a flat rate?
Does the HDFC personal loan make more sense overall despite higher interest on paper?
Are RSA and extended warranty worth taking at this price?
Anything in this quotation that looks overpriced or negotiable?
Looking for practical advice, especially from people who’ve recently financed a bike.
Thanks.