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Used Commercial Vehicle Loans

Refinance Loans

Used Commercial Vehicle Loan Features and Benefits

Used Commercial Vehicle Loan Eligibility and Documentation

Select your occupation type

  • Salaried or self-employed individuals
  • Proprietorship and/or partnership firm
  • Private and/or public limited companies

Salaried or self-employed individuals

Age, address, ID and signature proof

Income document (salary slip/form 16/ITR with computation of income)

Bank statement

Photocopy of vehicle RC book and insurance certificate

Proprietorship and/or partnership firm

Age, address, ID and signature proof

Income document (salary slip/form 16/ITR with computation of income)

Bank statement

Photocopy of vehicle RC book and insurance certificate

Partnership deed with declaration for partnership firm

Private and/or public limited companies

Age, address, ID and signature proof

Income document (salary slip/form 16/ITR with computation of income)

Bank statement

MOA/AOA with board resolution for private/public ltd. firm

Used Commercial Vehicle Loan EMI Calculator

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These calculators are provided only as general self-help planning tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy or applicability to your circumstances.

Digital Lending Partners

Used Commercial Vehicle Loan FAQs

What is an EMI?

EMI stands for ‘Equated Monthly Instalments’. The instalment comprises two components – the principal and the interest. EMIs provide you with the ease and benefit of paying back your loan in fixed monthly payments over a long period of time.

What documents are required to change my communication/ mailing address?

Please mail a self-attested copy of any KYC document (as mentioned in the Eligibility and Documentation section) to helpdesk@tvscredit.com, or walk into any of our branches with your documents.

Does TVS Credit offer any special schemes?

We frequently offer special schemes – don’t miss out! To avail of our latest offers, get in touch with us.

I am an existing customer; can I apply for another loan?

Yes. However, please note that the approval of your loan is subject to your credit score and fulfilment of eligibility criteria for the product.

Will I be eligible for any special schemes after I have repaid my loan?

Once you have cleared your loan without default, you may be eligible for special schemes.

Do I have the option of prepaying my loan?

Yes, this can be done as per the foreclosure terms mentioned in your loan agreement.

How long will it take to get a loan?

Your loan will be processed within 24 to 48 hours depending upon the documents and verification requirement.

Can the tenure and loan amount be changed after the loan amount has been disbursed?

No, neither can be changed.

What are the tenure options for used car loans?

You can choose from any of the 5 well-placed repayment options of 12, 24, 36, 48 or 60 months, which are designed to suit your requirements.

Can I pay my instalment and other dues online? If yes, then how?

Yes, you can pay your instalment and other dues online through our online EMI payment option which is located on the header of our website.

Is there any security/collateral which needs to be offered for this loan?

No. You only have to submit your KYC documents along with bank details for loan approval. Until the loan is repaid, the vehicle will be hypothecated to TVS Credit.

What is down payment/margin money?

Down payment is a small initial amount that you will need to pay at vehicle dealership. It’s the difference between on-road price and loan amount sanctioned to you.

What cars can I buy with TVS Credit Services used car loans?

Leading auto manufacturers like Maruti Udyog, Tata Motors, Hyundai Motors, Ford India, Skoda, General Motors, Honda India, Fiat India, Toyota India are covered. Some discontinued models may not be eligible for finance.

Do I need a guarantor for used car loans?

No, but if your income does not meet our eligibility criteria, then you can club the income of your father/mother/spouse/son to become eligible for your loan. They would need to come in as a co-applicant for the loan.

What is the procedure to get NOC?

Once you have completed your loan repayment, we will process and close your loan, post which a physical copy of the NOC will be sent to your registered address. You may also contact our customer care number at 180-0103-5005 or write to us at helpdesk@tvscredit.com.

When do I become eligible to get an NOC? How can I receive it?

You can get your NOC once you’ve paid your entire loan amount and any corresponding dues applicable.

Being an existing customer, can I apply for another loan?

Yes, you can apply for another loan.

Do I need a guarantor?

No, a guarantor is not required.

Who can be a co-applicant for the loan?

Your spouse or any blood relative staying at the same residence as yours can be a co-applicant.

What will be done with the post-dated cheques if I request to change the mode of repayment/ account for my loan?

The cheques submitted, will be defaced and retained. And in case you wish to get back your cheques, kindly lodge a request with our customer care or write us an email at helpdesk@tvscredit.com.