Commercial Vehicle Finance

Commercial vehicel finance or commercial vehicle hire purchase is done through banks and non-banking finance companies (NBFCs). These companies finance new vehicles as well as used ones. Usually they have tie-ups with the manufacturers to provide fast and easy loans to its customers. The terms and conditions differ from one company to other.


Features of Commercial Vehicle Leasing
  • - The value of the vehicle is assessed and finance is provided based on the value.
  • - The vehicle should be in the name of the customer.
  • - Proper comprehensive insurance cover is mandatory.
  • - Early closure is allowed.
Types of Commercial Vehicle being Financed
  • - Trucks
  • - Buses
  • - Coaches
  • - Three wheelers
  • - Taxicabs
  • - Vans

Documents Required:

  • - Copy of the vehicle's registration certificate and / or immovable property document or fixed deposit / security.
  • - Notarised photograph of the customer and the guarantor.
  • - Address proof in the form of ration card / voter's card / passport / electricity bill / telephone bill.
  • - Contract numbers, in cases where the customer is an existing / past customer of TMF.
  • - Land and building ownership documents certified by the appropriate government authority like search report / NEC.