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Used Passenger Commercial Vehicle Finance
Planning to expand your transportation business but worried about hefty down payments on new vehicles? Used Passenger Commercial Vehicle Finance bridges the gap between ambition and reality, opening doors to affordable access to pre-owned buses, tempos, vans, and more.
Used Passenger Commercial Vehicle Finance, otherwise known as Old Passenger Commercial Vehicle Finance is a type of loan that allows you to borrow money to purchase a second-hand Passenger Commercial Vehicle. This can be a great option for those who are starting out in business or who simply don't have the budget for a new vehicle.
Used Passenger Commercial Vehicle Finance is a great option for businesses of all sizes in India. Whether you're just starting out or you're looking to add to your existing fleet, it can help you get the vehicles you need to succeed.
Features & Benefits of Used Passenger Commercial Vehicle Finance
There are a number of benefits to financing a used passenger commercial vehicle. These include:
Reduced Down Payment
Enjoy financial flexibility with loans covering up to 90% of the vehicle's value, minimizing your upfront investment and allowing you to allocate capital towards other business needs.
Boost Business Growth
Expand your fleet and meet increasing demand without waiting for the resources to purchase brand-new vehicles. Used passenger commercial vehicles offer a cost-effective way to scale your operations quickly.
Improved Cash Flow
Spread your payments over a convenient tenure, easing the burden on your monthly expenses and ensuring better cash flow management for your business.
Wide Vehicle Selection
Choose from a diverse range of pre-owned passenger commercial vehicles from reputable dealers, finding the perfect fit for your specific transportation needs.
Faster Approvals
Streamlined documentation and efficient processing times ensure you get access to funds quickly, minimizing delays in getting your business moving.
Used Passenger Commercial Vehicle Finance Calculator
A used passenger commercial vehicle finance calculator can help you estimate your monthly payments.
Loan Summary
Loan
How to Apply Used Passenger Commercial Vehicle Finance Online?
You can apply for used passenger commercial vehicle finance online in a few simple steps.
Step 01
Register using your mobile number
Step 02
Verify and proceed using OTPStep 03
Enter personal detailsStep 04
Receive a call from our representative
Eligibility of Used Passenger Commercial Vehicle Finance
The eligibility criteria for used passenger commercial vehicle finance may vary based on the type of loan required and other factors. Some general requirements include:
The applicant must be at least 18 years of age (The applicant should not be older than 70 years at the end of the loan tenure)
Registered business with a valid PAN and GST number
Should be in the transportation-related business at least 1-2 years
Stable income and financial statements
Ownership of a valid driving license and commercial vehicle permits (if applicable)
Shriram Used Passenger Commercial Vehicle Finance Quick Facts
Loanable amount
Up to 90% of the vehicle's value
Loan tenure
Flexible repayment options ranging from 84 months
Interest rates
Competitive rates starting from as low as 10%* p.a.
Documentation
Simple and streamlined documentation process
Eligibility
Self-employed individuals, sole proprietors, partnerships and private limited companies can apply
Documents Required For Used Passenger Commercial Vehicle Finance
The documents required for used passenger commercial vehicle finance may vary based on the type of loan required and other factors, but they will typically include the following:
- Business registration documents (registration document, GST certificate, etc)
- Proof of identity (passport, driver's license, etc.)
- Proof of address (utility bill, bank statement, etc.)
- Proof of income (bank statements, tax returns, etc.)
- Vehicle registration documents
- ITR returns (past 2 years)
Used Passenger Commercial Vehicle Finance Interest Rates and Charges
The interest rate on your used passenger commercial vehicle finance will depend on a number of factors, including your current loans, required loan amount, and the loan tenure. It is important to ask and understand rates before you apply for a loan.
In addition to the interest rate, there are also a number of other charges that you may be required to pay, such as processing fees, overdue interest and late payment fees (if delayed). Kindly check with a Shriram Finance representative or visit the nearest Shriram Finance branch
For interest rate and applicable Fees/charges, please refer our interest rate policy : Interest Rate Policy
FAQs
What is Used Passenger Commercial Vehicle Finance?
Used passenger commercial vehicle finance is a type of loan that allows you to borrow money to purchase a used passenger commercial vehicle.
What is the maximum loan amount for a Used Passenger Commercial Vehicle loan?
The maximum loan amount for a used passenger commercial vehicle loan will based on various factors, but it is typically up to 90% of the value of the vehicle.
Who is eligible for a Used Passenger Commercial Vehicle loan?
To be eligible for a used passenger commercial vehicle loan, you must typically meet the following criteria:
- The applicant must be at least 18 years of age (The applicant should not be older than 70 years at the end of the loan tenure)
- Should be in the transportation-related business at least 1-2 years
How do I get a loan for Used Passenger Commercial Vehicle finance?
You can apply for used passenger commercial vehicle finance online contact a Shriram Finance Representative
