Invest In Safe Avenues For Short-Term Goals

Queries James Sangwa, Shillong I am a college graduate. I have some savings but no steady income. I aspire to buy a bike. Should I go for a personal loan, auto loan, money lender, or loan against an insurance policy? The best way to get your dream bike is to get an auto loan. It will always be cheaper than the other loans you mentioned. The reason for this is two-fold: first, if you take it from a showroom, the rates are negotiated between the manufacturer or showroom owner and the financing company and are likely to be lower; second, because of the competition amongst bike manufacturers, there is a likelihood of the manufacturer subsidising it to some extent. It will also be a much faster and more convenient. The next good option would be taking it from a bank which again would be a loan at fairly competitive rates. A personal loan would be costly since it does not take any...