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Fill up the form below for a quick loan enquiry!

Which Used Commercial You Want to Buy?

Benefits & Features

Low Interest Rate
Low Interest Rate
Affordable interest rates make used commercial vehicle loans more affordable and maximize your savings.
Loans for up to 15-year-old Assets
Loans for up to 15-year-old Assets
Finance older vehicles with ease without worrying about the asset age. Find support for assets up to 15 years old.
Faster TAT
Refinance Against Existing Vehicle
Maximize asset value. Refinance your vehicle with TVS Credit to boost your business growth.
Quick Loan Approval
Quick Loan Approval
Skip the wait. Focus on growing your business with instant loan processing and approval.

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 instalment
Foreclosure Charges
  • Remaining loan tenure is <=12 months - 4% on principal outstanding
  • Remaining loan tenure is >13 to <=36 months-5% on principal outstanding
  • Remaining loan tenure is >36 months - 6% on principal outstanding
Duplicate NDC/NOC Charges - physical copy ₹500
Bounce Charges ₹650

Additional charges may be involved depending on the services or conditions.
For a complete list of charges, please Click Here

Eligibility Criteria for Used Commercial Vehicle Loans

Here’s all you need to know about your eligibility for a Used Commercial Vehicle Loans.

Eligibility Criteria
Nationality
Nationality
Indian
Age
Age
  • 18-65 years*
Business Stability
Business Stability
Min 1 Year
Document required
ID and Signature Proof
ID and Signature Proof
  • Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport
Address Proof
Address Proof
  • Copy of Passport/Electricity Bill
Age Proof
Age Proof
  • PAN Card
Income Proof
Income Proof
  • Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income
NoteExtra documents could be required based on Salaried/Self Employed Individuals, Proprietorship/Partnership Firm, or Private/Public Limited Companies.

How to Apply for a Used Commercial Vehicle Loan?

Swift, Simple & Secure
Step 1
Select the Vehicle
Select the Vehicle
Choose the used commercial vehicle for which you need a loan.
Step 2
Loan Approval
Loan Approval
Submit the required documents to get the loan approved without delay.
Step 3
Loan Sanction
Loan Sanction
Funds will be disbursed as soon as the loan is approved.

Other Loan Services

Used Tractor Loan
Used Tractor Loan
Transparent Fees
Max Funding
Used Tractor Loan
Implement Loan
Implement Loan
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Transparency
Implement Loan
New Tractor Loan
Mobile Loan
No Hidden charges
Secure
Mobile Loan
New Tractor Loan
New Tractor Loan
Faster Documentation
High LTV
New Tractor Loan
Three Wheeler Loan
Three Wheeler Loan
Flexible EMI
1 Day Approval
Three Wheeler Loan
Used Car Loan
Used Car Loan
Affordable Rates
Quick Approval
Used Car Loan

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About Used Commercial Vehicle Loans

Commercial vehicles are undoubtedly the lifeline of the Indian economy. They help run businesses and industries through logistics and delivery services. Used commercial vehicles offer a great combination of long-term profitability and affordability. If you want to start earning right away without paying a full upfront cost, used commercial vehicle loans are a valuable financing option.

TVS Credit offers a simple and hassle-free solution for used commercial vehicle loans. Transfer your current loans and enjoy reduced interest rates, which makes loans more affordable. You can refinance your pre-owned commercial vehicles to maximize the benefits of used commercial vehicle loans. Grow your business sustainably by applying for a loan today!

Key Features of Used Commercial Vehicle Loans

Used commercial vehicle loans are attractive for fleet owners and businesses with a wide range of benefits like:

  • Affordable Interest Rates: Maximize your savings by taking advantage of competitive interest rates. Expand your business without straining your budget.
  • Loans for up to 15-year-old Assets: Easily finance your used commercial vehicle even if it is up to 15 years old. Focus on your business without worrying about asset age.
  • Faster TAT: Experience faster Turn Around Time (TAT), which makes the loan process smooth and stress-free. Thanks to minimal paperwork with tab-based processing.
  • Instant Loan Approval: No more long queues. Get your loan processed instantly to secure funds for a used commercial vehicle and grow your business without wait.
  • Refinance Against Existing Vehicle: Enjoy tailored benefits by refinancing with TVS Credit. Leverage your current vehicle with appropriate asset value.

What are the Charges on Used Commercial Vehicle Loans?

Following are the main charges associated with used commercial loans:

  • Processing fees: Up to 5.9%
  • Foreclosure charges
  • Penal charges (excluding GST): 36% per annum on unpaid instalment
  • Duplicate NDC/NOC Charges - physical copy: ₹500
  • Bounce charges: ₹650

Additional charges may be levied on used commercial loans across the entire loan journey.

What are the Eligibility Criteria for Used Commercial Vehicle Loans?

Find out if you are eligible for used commercial loans:

  • Must be an Indian national
  • Must be of 18-65 years* age
  • Must have minimum 1 year of business stability

What are the Documents Needed for Used Commercial Vehicle Loans?

Keep the following documents handy before applying for a used commercial vehicle loan:

For Salaried/Self Employed Individuals

ID and Signature Proof

Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport

Age Proof

PAN Card

Address Proof

Copy of Passport/Electricity Bill

Income Proof

Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income

Asset Documents

Photocopy of Vehicle RC Book and Insurance Certificate

Other Documents

Bank Statement or Passbook

For Proprietorship and/or Partnership Firm

ID and Signature Proof

Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport

Age Proof

PAN Card

Address Proof

Copy of Passport/Electricity Bill

Income Proof

Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income

Asset Documents

Photocopy of Vehicle RC Book and Insurance Certificate

Other Documents

Bank Statement or Passbook, Partnership deed with a declaration for partnership firm

For Private and/or Public Limited Companies

ID and Signature Proof

Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport

Age Proof

PAN Card

Address Proof

Copy of Passport/Electricity Bill

Income Proof

Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income

Other Documents

Bank Statement or Passbook, MOA/AOA with board resolution for borrowing

How to Apply for a Used Commercial Vehicle Loan?

Securing a used commercial vehicle loan is just a matter of 3 simple steps:

  • Select the used commercial vehicle for which financing is required.
  • Get loan approval after submitting the required documents.
  • Loan will be disbursed swiftly once the funds are approved.

Frequently Asked Questions on Used Commercial Vehicle Loan

TVS Credit offers used commercial vehicle loans for vehicles up to 15 years old (asset age).

Check out the eligibility criteria: Indian nationality, 18-65 years* age and Min 1 year business stability.

The interest rate for a used commercial vehicle loan depends on different factors like vehicle age, loan tenure, credit score, and customer segment.

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Disclaimer
The Website is only providing services by providing indepth & well-researched information on various vehicles and implements to the Users. If you express your interest in any of the vehicles or implements whose information is provided on the Website, Your details shall be shared as a sales lead for TVS Credit. The Website neither facilitate, in any manner, the purchase and sale of any vehicle or implement whose information is displayed and does not as a 'live/online marketplace' in terms of Information Technology Act, 2000 (as amended from time to time) nor provide loans.
All images displayed on this Website are for illustration and representation purposes only. Actual vehicle, specifications, colors, and features may vary from those shown in the images. Tractorkarvan does not guarantee that the images accurately reflect the final product.
*The price disclosed against the each used vehicle /product displayed herein is the Base Price. The final price of the each of the product shall be determined in accordance with the Residual Management Policy of TVS Credit Services Limited.
The price disclosed against all new products herein is an indicative Price. The final price of each of the respective product will be determined in accordance with the discounts/offers/regional taxes & govt. norms at your final purchase location's dealership/platform/store.