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Commercial Vehicle Finance
What is a Commercial vehicle finance?You can avail a loan to purchase vehicles such as trucks, buses used for commercial purposes. Normally you will have to pay 20% of the cost of the vehicle up front, the remaining is financed by the bank.
What are the documents required to avail a commercial vehicle finance?
- You need to have filed two years income tax returns, audited balance sheets and profit and loss account of your business.
- Your six months bank statements are very important to avail this loan.
Borrowers use this money for their transportation business. Used to finance Trucks, Buses, Tippers and commercial vehicles.
You get funding even up to 90% of the chassis and 100% in some cases. Down payment is very low.
Customized finance solutions to meet individual needs of the borrowers. Finance available for used vehicles.
Hassle free documentation. Loan processing is quick. Repayment tenure 12-48 months.
Eligibility criteria to avail Commercial Vehicle Finance
You need to be an existing owner of at least two commercial vehicles.You require a minimum CIBIL score of 700 for the final sanctioning of your loan.