Commercial Vehicle Loan & Finance
Explore available financing options for eligible commercial vehicles through Mehar Advisory's network of banks and NBFCs. Compare interest rates, evaluate eligibility, and review down payment options for commercial transport vehicles.
Fleet Finance Quote
Submit operational specifications to compare custom vehicle schemes.
Quick Commercial Vehicle Finance Details
*Important: Final rates, LTV, and processing charges depend on the selected lender, vehicle type, and applicant profile.
Commercial Vehicle Loan Interest Rate
Commercial vehicle financing rates vary significantly by lender, vehicle type, applicant profile, and loan structure. Generally, rates for brand new commercial vehicles start from 8.50% p.a., while pre-owned vehicle rates typically start from 11.50% p.a.
As a financing intermediary, Mehar Advisory helps customers compare available lender options. Your final rate is influenced by your CIBIL profile, business vintage, the vehicle's specific condition and value, the total loan amount, and the selected lender's underwriting policy.
Commercial Vehicle Eligibility
Final eligibility is determined by the specific lender's policy. Key factors include:
Age & Vintage: Minimum 21 years old. Minimum 2 years of active logistics, driving, or transport brokerage vintage.
Credit Score: CIBIL score of 650+ minimum is preferred. 700+ yields better rates.
Business Use: Self-employed transport operators (SRTO), fleet owners, and proprietorship logistics businesses.
Driving License: Valid commercial driving license required for self-employed driver-owners.
Documents Required
Documents generally required for processing may include:
Identity KYC: Aadhaar Card, PAN Card, Voter ID.
Business Proof: GST Registration, Shop Act, RTO permits, or MOA/AOA.
Financial Proof: Last 6 to 12 months bank statements.
Transit Contracts: Active work orders, cargo load details, or transit logs.
Vehicle Quote: Proforma invoice from the dealership (and body fabrication quote if applicable).
Additional documents may be requested by the selected lender based on the applicant and vehicle.
Funding / Down Payment
Customer contribution depends on the lender, vehicle valuation, and applicant profile. New commercial vehicles can often secure up to 90% funding (which can cover both the chassis and body building quotes). Used commercial vehicles generally secure 75% to 80% of the authorized surveyor's valuation.
Your upfront down payment contribution directly affects the final financed amount, the lender's risk exposure, and your resulting monthly EMI burden.
Commercial Vehicle Loan EMI
Your EMI depends on the financed amount, final interest rate, and repayment tenure. Use this calculator for planning purposes.
How the Process Works
Enquiry: Submit details online.
Eligibility Review: We review your operational setup.
Vehicle Valuation: For used assets, bank surveyors check the chassis.
Documentation: KYC and financial records are collected.
Lender Sanction: The selected bank issues the credit approval.
Disbursement: Funds are paid to the dealership or fabricator.
What Affects Rate and Approval
Two applicants may receive different financing terms based on:
- Credit History: Clear past repayment of auto/business loans yields better rates.
- Fleet Size & Routes: Operators with 3+ vehicles and stable transit contracts are viewed favorably.
- Vehicle Condition: New commercial vehicles secure lower rates than 5-to-7-year-old models.
- Lender Policy: Individual banks have varying risk limits and volume discount programs.
Vehicle Types Supported
Mehar Advisory assists with financing for various commercial vehicle categories:
- Light Utility: Small commercial cargos, pickups.
- Heavy Multi-Axle: Heavy rigid haulers, long-haul freight carriers.
- Passenger Transit: Commercial cabs, tourist coaches, school buses.
- Special Utility: Tippers, dumpers, transit mixers.
Why Choose Mehar Advisory?
As an advisory intermediary, we connect you with banks to finalize your credit. We provide doorstep coordination across Jaipur, Bikaner, Bagru, Merta, Sri Ganganagar, Hanumangarh, and Lunkaransar.
