Both the bikes are actually the same body shells with different engines. The 346cc, Thunderbird 350 is a better option when seen from the value for money point of view. It returns a better mileage and comes with a price tag of INR 1,38,376. The engine produces 19.8 BHP and 28 NM of torque. On the other hand, the Thunderbird 500 is lesser economical with its 499cc engine producing 27.2 BHP and 41.3 NM of torque. It comes with a price tag of INR 1,75,715. Going for Thunderbird 350 is a better and practical option.