Commercial vehicle loan for purchasing commercial vehicle in delhi gurgaon

Most of the bank offer Commercial vehicle loan to purchase vehicle, machines to meet business transportation and equipment needs. Because bank consider these kind of small business loans as secured loan by hypothecation of the machinery or commercial vehicle which is financed.Till the end of the loan tenure bank hold machinery papers with them.Disadvantage of Commercial vehicle loan Applicant cannot sell his Commercial vehicle till vehicle loan account has nil outstanding. Owner can sell his  commercial vehicle after getting no objection certificate from the bank .

 Business man used to repay their business loan interest rate by the earning from machinery or commercial vehicle acquired . Tenure of these kind of small business loan is very short and business loan interest rate usually  equal in whole loan tenure.

Why Commercial vehicle loan easily accessible?

Bank for this kind of commercial vehicle loan generally funds up to 90% and rest amount is paid by the borrower. Commercial vehicle loan may be for new vehicles, finance on used commercial vehicles or equipment.Special feature of these Commercial vehicle loan is bank directly make payment to the dealer or manufacturer instead of paying the borrower. Most of the bank now days tied up up with renowned manufacturers present in the market which further smoothen Commercial vehicle loan for the applicant.

 

 

What kind of Commercial vehicle loan customer opt for?

If you are a self-employed and running a transport business .We can help you to buy Commercial Vehicles which are available in market with our Commercial vehicle loan option. You can enjoy the liberty of choosing Commercial vehicle loan repayment option. Applicant can apply for commercial vehicle loan for a different commercial vehicles, which owner can operate at different locations.
Apart from the transporter a business man can also apply for Commercial vehicle loan to reduce dependency on a Transporter. A good and cleaver business man know it very well commercial vehicle loan interest rate is much more less then a transporter rent. More over he will be the owner of that Commercial vehicle once loan is over.

Factor play important role for commercial vehicle loan interest rate

1)Number of commercial vehicles Applicant owned

2) Monthly rental income of the applicant from commercial vehicles

3) Track record of the repayment of vehicle loan if any loan running currently.

Feature of Commercial Vehicles loan

  • Fast Commercial Vehicles loan processing
  • flexi loan emi
  • FlexibleVehicles loan tenure 12 – 60 months
  • Affordable Commercial Vehicles loan interest rates
  • Vehicles loan can be Customised as per applicant needs

In some cases bank provide zero down payment commercial vehicle loans to the borrower who has a good banking transection, healthy financial condition of the company.

Customer who is eligible for commercial vehicle loans

Partnership business, Hindu undivided family ,self employed, professional, Pvt.Ltd companies

Types of commercial vehicle on which borrower can apply

Types of commercial  vehicle came under commercial vehicle loan :-Commercial car, tippers, heavy commercial vehicle, light commercial vehicle, bus ,truck. Apart from these bank also offered bank loan for pre-owned vehicles.

how long it will take to get approved Commercial vehicle loan :

In normal case bank takes 7 to 10 days to sanction commercial vehicle loan loan. But case to case it vary because bank has to scrunize the borrower line of business , banking transection, cibil score, funding location, business stability. Generally bank directly disburse the loan amount to the vehicle company from where applicant wants To buy their Commercial vehicle loan

 

 

 

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