Bodaboda motorcycle taxi riders and Bajaji three-wheeler operators across the country are urging financial institutions and the government to introduce affordable loan schemes that would allow them to own their vehicles instead of continuing under costly rental arrangements.

Many operators say they are trapped in a cycle where a large portion of their daily or weekly earnings goes directly to vehicle owners, leaving them with very low take-home income and little financial stability.

They argue that access to structured and affordable credit would significantly improve their livelihoods by enabling them to transition from renters to owners.Currently, most drivers in the informal transport sector face major barriers when trying to access formal banking services.Traditional lenders often consider them high-risk clients due to irregular income patterns, lack of formal documentation, and limited collateral.

As a result, available loans tend to have high interest rates and strict repayment terms that are not aligned with daily earnings in the transport business.Industry observers note that enabling ownership could have wider economic and social benefits.Vehicle owners are more likely to maintain their motorcycles and Bajajis properly, which can improve road safety and reduce breakdown risks.Ownership also encourages better financial planning and long-term investment in the business.

Operators are therefore calling for government-backed loan guarantees, subsidised financing schemes, and partnerships with microfinance institutions to create flexible repayment models that match daily income cycles.They also suggest grace periods during low-demand seasons and smaller frequent repayments instead of large monthly instalments.

At a time when fuel prices, competition, and regulatory pressures are increasing, transport workers believe that affordable financing would strengthen the resilience of the sector and improve the economic wellbeing of thousands who depend on it for their daily survival.