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What is a Used Commercial Vehicle Loan?
Commercial vehicles play a vital role in enhancing business transportation efficiency, offering logistical flexibility and long-term cost benefits. If you’re in need of financing for a pre-owned commercial vehicle, our Used Commercial Vehicle Loan provides a hassle-free solution through a simplified process.
With our Used Commercial Vehicle Loans, you can even transfer your current loans and take advantage of reduced interest rates. Maximise the benefits of our service by refinancing your pre-owned commercial vehicles. Apply for our Used Commercial Vehicle Loan and simplify your work life.
Key Features and Benefits of Used Commercial Vehicle Loans
The features of our Used Commercial Vehicle Loan allow you to enjoy a wide range of benefits.
Low-Interest Rate
Enjoy the optimum financial benefits with our affordable interest rate offers.
Loans for up to 15-year-old Assets
Finance your used commercial vehicle without worrying about the age of the asset.
Faster TAT with Minimum Documentation
Enjoy faster Turn Around Time (TAT) and minimal paperwork using our tab-based processing.
Quick Loan Approval*
Skip the long queue. Get your loan approved instantly with our efficient loan processing.
Refinance Against Existing Vehicle
Choose a refinancing option with TVS Credit and make the most of our attractive features.
Charges on Used Commercial Vehicle Loans
| Schedule of Charges | Charges (inclusive of GST) |
|---|---|
| Processing Fees | Up to 5.9% |
| Penal Charges (excluding GST) | 36% per annum on unpaid installment |
| Foreclosure Charges | a) Remaining loan tenure is <=12 months - 4% on principal outstanding b) Remaining loan tenure is >13 to <=36 months-5% on principal outstanding c) Remaining loan tenure is >36 months - 6% on principal outstanding |
Other Charges |
| Bounce Charges | Rs.650 |
| Duplicate NDC/NOC Charges - physical copy | Rs.500 |
For a complete list of charges, please click here
Used Commercial Vehicle Loans EMI Calculator
Get an estimate of your EMI, processing fee and other essential information. Get the calculation done instantly with a used commercial vehicle loan EMI Calculator and make prudent decisions.
Disclaimer : These results are for indicative purposes only. Actual results may vary. For exact details, please contact us.
Eligibility Criteria for Used Commercial Vehicle Loan
Wondering if you meet all the requirements to opt for a loan? Check your eligibility and get a used commercial vehicle loan.
Indian
18 – 65 years*
Min 1 Year
Documents Required for Used Commercial Vehicle Loan
Make sure you have all the mandatory documents before applying for a used commercial vehicle loan:
How to Apply for a Used Commercial Vehicle Loan
Select Your Vehicle
Choose the used commercial vehicle you want to avail of the loan for.
Get Approval*
Upload the required documents and get your loan approved.
Loan Sanction
After approval, get your loan disbursed without any delay.
Are you an Existing Customer?
Welcome back! Submit the below-mentioned details and get a loan for a used commercial vehicle.
OTP will be sent your mobile number
Frequently Asked Questions
The interest rates for a used commercial vehicle loan may differ depending on several factors like customer segment, credit score, loan tenure, and age of the vehicle.
Check your eligibility to apply for a second-hand commercial vehicle loan.
We can fund heavy vehicles up to 15 years old (asset age) for a used commercial vehicle loan.
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