Life is all about happiness. If you are literally passionate about riding a Hardley or any other superbikes, go for it, and don’t listen to people who say thinking about your salary or savings. Do things which bring happiness to you. Don’t regret in later stages of your life. Honestly speaking, it’s possible for you to buy a 6-7 lakh worth of bike. Yes, you are reading it right! But what matters most is how to get the bike?
First and foremost, don’t allow your salary as a constraint in your life, set a goal in your career and work towards it. Raise your salary standards and later change this question “For a person who is getting salary double digit in terms of lakhs per annum shall I go for any High-end cruiser like Hardley or superbikes”.budget
More importantly, think practical about it. If you waste so much money on the installments of the bike, you will neither have any savings nor a proper lifestyle until the first service. Once you get the service bill you will definitely sell the bike as soon as possible. High-end vehicles may be easy to buy but their maintenance is very costly. And also think about the cost of the spare parts in case the vehicle meets and accident or needs tuning.
Then assume that you will be buying the bike on loan. That is the first bad idea since you are buying a depreciating asset on loan. In the end, you will pay additional interest over the principal value while your bike value depreciates day by day. Let's say after 3 years you decide to sell the bike and are getting 3L for it. That 3L will go away in settling the loan and maybe you will have to pay some more from your own pocket to clear the loan. So don't land up in such a situation. Or you can directly lower the requirements about the bike to buy a 5.5 lakh bike. Benelli TNT 600i is the bike that fits perfectly in your budget. At 5.5 lakh, it is the most affordable Inline 4 Cylinder naked 600 cc motorcycle in the market right now. The bike churns out near to about 84 BHP and 54.5 nm torque. It has a beautiful exhaust note to accompany. The company claimed mileage is 18-22 kmpl. The bike doesn't get an ABS which is a major downside. None the less, it performs really well.
Owning a superbike is cool, but make yourself self-reliant first. Even if you do need to take a loan, ensure the loan amount is as less as possible and the EMI is not more than 25% of your take home salary. That way you will enjoy your bike as well as your life.
After considering the issues aforementioned, the answer to the doubt “whether it’s possible to buy a bike worth 6-7 lakh when earning 20k monthly” would be to earn it by planning for it rather than just getting a huge loan to buy it.
First thing, buy a mini-bike version (mockup of the 6 lakh bike) and hold it up at a place of high visibility like say your work desk. You should be able to see the mini-bike for most of the time.
Now, every time you are challenged at your work or you want to push yourself to do better have a look at this mini-bike. Instant Motivation!!!
Work harder and take those risks when you have to. Work towards improving your skills or learn new skills to fetch you a higher pay packet. By the end of a year and a half, you would definitely double your pay or switch to a new job that would pay you higher. So, now you have a pay of around 5 lakh (on basis of 20k a month initial salary)
Do you go for it now? No, work harder.
In another year you can for sure double your pay again. With a 10 lakh income annually u can go in and book your dream bike for sure and be able to ride it without worrying too much or maintain it in a manner it deserves to be. So in about 3 years, I think you can definitely be the proud owner of your dream bike.
So, is it worth the wait? Definitely yes! There is not better feeling than a hard earned victory. At the end of it, you either get your hands on your dream bike or realize that what you were fighting for was not truly what you wanted and would have saved a good amount by the end of it.
Again if you are buying for showoff, it is not worth it, or you will end up spending more money in service and petrol. But once you get the dream bike after the hard work, you will certainly harvest incredible pleasure and excitement on seeing and getting in the saddle, royalty when you perch yourself on the dragon, confidence when you start it and it accepts you as its master, and responsibility when you realize the power you hold in your hands. These two wheels really move your soul.