Category Archives: commercial vehicle loan

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Commercial Mortgage

A commercial loan is any loan secured on belongings which is not your residence. Buy to allow mortgages are a unique form of high quantity commercial loan which is packaged for a extent market. But due to the fact that almost every other type of premises are extraordinary, each mortgage needs to be assessed in my view and priced according to the risk.

When are commercial mortgages used?

Commercial mortgages commonly take over where commercial enterprise loans end. Some commercial enterprise loans are unsecured, but for large quantities creditors want safety as a way to reduce the threat to themselves. Because of the legal and administrative fees of taking security on business assets it’s miles taken into consideration uneconomic to borrow.

How to find the great deal ?

Because of the complexity we have teamed up with expert industrial mortgage agents, B2B Commercial Mortgages, who offer an internet carrier and who charge no Broker fees. B2B participants who you can depend on to find you the quality deal, because they cowl the complete marketplace.

What may be supplied as safety?

Generally lenders take the assets you are buying as the handiest protection for the loan, that’s commonly 70% of the value of the belongings, and ask for a cash deposit for the stability of the acquisition price. If you don’t have the cash you could provide the lender additional security, that is typically different property which you have full-size equity in, but will be a fee over other belongings including an insurance policy or shares.

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Commercial Vehicle Loan

What are the functions of a Commercial Vehicle Loan?

There is no need to shop around anymore for commercial vehicle mortgage alternatives for buses, tippers, transit mixers or some other heavy, light or small commercial vehicle that your business may require. Types of Commercial Vehicles included in this mortgage :


o          Intracity

o          Intercity

o          School & College Bus

o          Staff Bus


o          Small Truck

o          Light Truck

o          Medium Truck

o          Heavy Truck

o          Customized Truck


o          Milk Tanker

o          Water Tanker

o          Oil Tanker

o          Chemical Tanker

o          Petroleum Tanker

o          Gas Tanker


Transit mixers


You can pick to buy your commercial vehicle from some of the best Indian vehicle businesses. We provide funding for entire variety of commercial vehicles of Tata Motors, Eicher Motors , Volvo, Mahindra Navistar, MAN, AMW, Mahindra & Mahindra, Swaraj Mazda, Bajaj Tempo, Ashok Leyland, and so forth.

Types of loans supplied for Commercial Vehicles:

o          New

o          Used/Refinance/Re-buy finance

o          Balance Transfer

o          Top-Up loans


What are the benefits of a Commercial Vehicle Loan?

You can avail of the subsequent blessings on our business automobile finance:

  • Finance Up to 100% of asset fee
  • Up to 48 months tenure for loan
  • Customized EMI structure to fit your business needs
  • Simpler documentation and quick processing

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Important things you should know about Commercial Vehicle loan

We now have often heard about home loans, car loans and personal loans. Most of us also comprehend the motive which these loans serve. Nonetheless, only some of us can be mindful of commercial loans. Let’s try to comprehend the cause of these loans, documentation system and who can avail them.

Commercial vehicle loans are often taken by way of individual, partnership corporations, proprietorship companies, HUF (Hindu Undivided family), trusts, societies, self-employed, businessmen and personal and public limited organizations for his or her financing desires for owning and running commercial vehicles.

The borrowers of those loans are quite often engaged in the trade of transportation. Commercial Vehicle loan options are on hand for buses, tippers, transit mixers or any other heavy, mild or small commercial vehicle. A commercial vehicle loan can be taken for a variety of commercial vehicles, which may be used at different locations.

Banks such as HDFC financial institution, ICICI financial institution, DCB bank and Yes bank among others provide such loans. Also NBFCs (non banking financial companies) like Reliance industrial Finance and Fullerton India private loans.

While loans are sanctioned for the purchase of a new commercial vehicle, banks additionally offer loans for pre-owned vehicles. Borrowers may additionally avail of a prime up on existing loans subject to conditions.

Loan Process

The borrower—who wishes to avail of a Commercial vehicle loan has to fill within the application form and provide the necessary documents. The documents include proof of address (passport, ration card, voters ID), proof of experience in the relevant area, track record of past loans (if availed) and 6 months bank statements of the last 6 months.

The borrowers would also have to publish two years income tax returns, audited balance sheets and profit & loss account statements. List of owned vehicles along with the copies of RC (registration certificate) books.

Some banks may also ask for transportation contracts for higher quantum of funding. In some circumstances, banks may ask also for a personal guarantor.

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Refinancing of Commercial Vehicle loan

Truck Refinancing might knock that fee down to a dimension that is much more manageable.

You don’t have got to feel stuck with a truck cost that you just fairly can’t manage to pay for anymore. Truck Refinancing is a rapid and handy process that could save you a bundle. With even a one point drop to your interest rate could cut down your monthly truck fee. More than that, Truck Refinancing might ultimately prevent drastically over the lifetime of your loan, relying on the fee and term, and who doesn’t love saving cash?

If you are currently carrying a high interest rate truck loan considering that your credit was once not best at the time of buy, Truck Refinancing is best for you. Consumers with bad credit are as a rule instructed that taking a high interest rate mortgage is their only choice to get the vehicle they want. Regardless of what anybody could have said, you could have different choices. With Truck Refinancing, that you would be able to observe for a better rate loan and saving cash on your truck cost today.

Truck Refinancing is simpler than you consider, even though you could have not up to ideal credit score. There are lenders who focus on supplying financing to people with a bad credit score and even no credit score in any respect.