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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.
buy-trucks

Buy Trucks

Borrowers use this money for their transportation business. Used to finance Trucks, Buses, Tippers and commercial vehicles.
high-margin

High Margin

You get funding even up to 90% of the chassis and 100% in some cases. Down payment is very low.
special-benefits

Special Benefits

Customized finance solutions to meet individual needs of the borrowers. Finance available for used vehicles.
document

Documentation

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.