Used Commercial Vehicle Loan
Used Commercial Vehicle Loan Details:
Finalix India offers specialized Used Commercial Vehicle (UCV) loans to help businesses acquire pre-owned commercial vehicles for their operations. Our UCV financing solutions are designed to support entrepreneurs, transporters, and businesses in expanding their fleet without the heavy burden of new vehicle costs. With flexible repayment options, competitive interest rates, and quick approval processes, we make commercial vehicle ownership accessible and affordable for growing businesses across India.
Why Choose Our UCV Loan?
Our UCV loans are tailored to meet the specific needs of commercial vehicle operators. We understand the transportation business and offer financing solutions that help you maximize your returns on investment.
- Loan up to 80% of vehicle value
- Flexible tenure: 1 to 5 years
- Competitive interest rates starting from 12% p.a.
- Vehicles up to 10 years old considered
- Quick processing within 3-5 working days
- Minimal documentation required
Types of Commercial Vehicles Financed
We finance a wide range of used commercial vehicles to support various business needs:
Goods Carriers
Trucks, Pickups, Tempos
Passenger Vehicles
Buses, Vans, Cabs
Construction Equipment
Excavators, Loaders
Agricultural Vehicles
Tractors, Harvesters
Eligibility Criteria
To qualify for our UCV Loan, applicants must meet the following criteria:
- Indian citizen between 21 and 65 years of age
- Minimum 2 years of business experience in transportation or related field
- Minimum annual income of ₹3,00,000 for individuals
- For companies: Minimum 3 years of business operations
- Good credit history with no major defaults
- Vehicle age: Maximum 10 years at loan maturity
Required Documents
Simplified documentation process for quick approval:
For Individuals:
- KYC Documents (Aadhaar, PAN, Passport)
- Address Proof (Utility bill, Rental agreement)
- Income Proof (ITR last 2 years, Bank statements)
- Business Proof (GST, Shop Act License)
- Vehicle RC copy (if available)
For Companies:
- Company PAN Card
- Certificate of Incorporation
- MOA & AOA
- Board Resolution
- Financial Statements (last 2 years)
Loan Calculation Example
| Vehicle Value | Loan Amount (80%) | Tenure | Interest Rate | EMI (Approx.) |
|---|---|---|---|---|
| ₹10,00,000 | ₹8,00,000 | 3 Years | 13% p.a. | ₹26,900 |
| ₹15,00,000 | ₹12,00,000 | 4 Years | 12.5% p.a. | ₹31,800 |
| ₹25,00,000 | ₹20,00,000 | 5 Years | 12% p.a. | ₹44,500 |
Ready to Expand Your Fleet? 🚚
Get financing for your used commercial vehicle with competitive rates and flexible repayment. Our experts will guide you through the entire process.
