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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 12 to 60 months
Interest rates
Competitive rates starting from as low as 12% 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)
