Commercial Vehicle Financing
A Commercial Vehicle Loan helps businesses and individuals purchase new or used vehicles for business purposes such as transportation, logistics, or goods delivery. It ensures easy access to funds with flexible repayment options tailored to business needs.
Types of Commercial Vehicle Loan
Commercial vehicle loans can be categorized based on vehicle type, usage, and financing structure
New Commercial Vehicle Loan
Financing to purchase brand-new trucks, buses, or vans
Used Commercial Vehicle Loan
Loan facility to acquire pre-owned vehicles at lower costs.
Light Commercial Vehicle Loan
For vehicles like mini trucks, pick-up vans, and small goods carriers.
Heavy Commercial Vehicle Loan
For financing large trucks, trailers, and buses used in logistics or public transport.
Passenger Commercial Vehicle Loan
Specifically for vehicles like taxis, auto-rickshaws, or tourist buses.
Fleet Financing Loan
Designed for businesses managing multiple vehicles to expand or upgrade their fleet.
Why Commercial Vehicle Loan is Important ?
Supports Business Growth
Helps companies expand logistics and transportation capacity.
Affordable Investment
Reduces upfront financial burden through easy EMIs.
Flexibility
Available for both new and used vehicles.
Revenue Generation
Vehicles purchased through loans contribute directly to income.
FAQs
Who can apply for a commercial vehicle loan?
Transport operators, business owners, self-employed individuals, and companies in logistics can apply.
What is the repayment tenure for commercial vehicle loans?
Generally, it ranges from 1 to 7 years depending on the loan type and lender.
Do I need to provide collateral for a commercial vehicle loan?
In most cases, the vehicle itself acts as the collateral for the loan.
Can I get a loan for a used commercial vehicle?
Yes, lenders also provide financing for second-hand commercial vehicles.