Currently, there is only one variant available that is Benelli TRK 502 standard with three different color schemes; Benelli red, pure white and metallic dark grey. 2021 Benelli TRK 502 has been powered by the same 499.6cc double cylinder, liquid-cooled engine that is BS6 compliant. It is capable of producing the maximum power of 47.5 PS and the maximum torque of 46 Nm. This bike has been updated with newly designed mirrors, semi-digital instrument cluster, better comfy seat and many more things.
2021 Benelli TRK 502 BS6 Loan DetailsAs the ex-showroom price of this bike is Rs 4.8 lacs, the on-road price including RTO charges, insurance, and other charges, can reach around Rs 5.4 lacs. The on-road price may vary for different states.
Different banks offer bike loans at different interest rates. The banks can provide two-wheeler loans for a maximum tenure of up to 5 years. Here are some details of a few banks for the Benelli bike loan. The State Bank of India offers two-wheeler loans at 16.05% annual interest rates for a maximum tenure of 3 years. HDFC Bank provides two-wheeler loans at a 9.10% annual rate of interest for a maximum tenure of 4 years.
Axis Bank provides two-wheeler loans at a 10.8% annual rate of interest for the maximum tenure of 4 years. Bank of India offers two-wheeler loans at a 7.45 % annual interest rate for the maximum tenure of 5 years. Bajaj Auto Finance provides a two-wheeler loan at a 7.85 % annual rate of interest for the maximum tenure of 3 years. The following loan information may help you figure out the expenditure. The company Benelli has discontinued the older variant Benelli TRK 502X in India. The newer BS6 variant has been introduced on 29th Jan 2021.
Let the on-road price by Rs 5.4 lacs, if you get the loan of Rs 4.8 lacs for the tenure of 4 years at 11.5% annual rate of interest, you will pay the down payment of Rs 60,000/- and Rs 12,400/- as monthly EMI. At the end of loan tenure, the total amount paid by the customer will be Rs 5.95 lacs including the total interest of Rs 1.15 lacs.
If the on-road price reaches around Rs 5.65 lacs and the customer is eligible for the 80% loan amount of the on-road price, that is Rs 4.52 lacs, at a 7.8% annual rate of interest for the tenure of 42 months, then the customer will pay a down payment of Rs 1.13 lacs and the monthly EMI of Rs 12,200/-. The customer will pay a sum of Rs 5.14 lacs including the total interest of Rs 62,000/- by the end of tenure.
If the on-road price of Benelli TRK 502 is Rs 5.6 lacs and one gets a loan of Rs 4.76 lacs at 16.05% annual rate of interest for a tenure of 4 years, then one will have to pay Rs 84,000/- is down payment and the monthly EMI of Rs 13,300/- approximately. The total amount paid by the customer, at the end of the loan repayment period, will be Rs 6.4 lacs with a total payable interest of Rs 1.64 lacs.
If a customer gets the same loan amount by paying a down payment same as above, but at a 9.2% annual rate of interest for the tenure of 2 years, the customer will pay the EMI of Rs 21,600/- per month. He will pay the total interest of Rs 43,000/- along with the total amount of Rs 5.19 lacs, during the period of 2 years.
So, from the examples given above, we can conclude:
1) Higher the interest rate, loan cost will be higher
2) Longer the tenure you will take for repayment you will end up paying more interest for the given loan amount.
Furthermore, you can calculate Bike Loan EMI from here: Bike Loan EMI Calculator.