Commercial Vehicle Finance
The European Union defines a "commercial motor vehicle" as any motorised road vehicle, that by its type of construction and equipment is designed for, and capable of transporting, whether for payment or not: (1) more than nine persons, including the driver; (2) goods and "standard fuel tanks".
What is Commercial Vehicle Finance?
The rate of interest for the commercial car loan depends on various factors like customer profiles and location.A commercial vehicle loan can be taken for a variety of commercial vehicles, which may be used at different locations. The commercial vehicle loan is applicable to customers with diverse profiles.You can avail a loan to purchase vehicles such as trucks, buses used for commercial purposes. Normally you will have to pay 20% of the cost of the vehicle up front, the remaining is financed by the bank.
Why Do You Need Commercial Vehicle Finance?
SAVINGS
Having to pay outright for a vehicle would be extremely costly. With so many other costs that you pay for on a regular basis, it can be difficult to pay for a company car. With a loan from Direct Capital, you can make smaller monthly payments with the option for buyout at the end of the term.
VARIETY
Leasing a vehicle for your commercial needs allows you a variety of options. From financing options to car purchasing options, you get to decide what you end up with and what will work the best for your company.
EASE
Commercial vehicle leasing really is easy. At Direct Capital, we make it a point to make the entire process as easy as possible for you. We realize that you have a lot of other things on your plate, and we will handle paperwork and other processes, freeing up your time to take care of your customers.
CHANGE
As was previously mentioned, Direct Capital is all about change. When a change happens in the industry that could be a benefit to you, we will make sure you understand and have access to everything that will benefit you as a company. Change is what makes us a better company, allowing you better success.
Eligibility:
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With experience ranging from 3 to 5 years depending on customer profile
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Minimum 1 year repayment track of commercial vehicles and construction equipment loan or any other loan – up to 50% of a fresh loan request depending on the customer category (Captive-Non Captive)
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Last 2 years’ audited financials – Compulsory in case of Private/Limited Company, Partnership Firms, Trusts and Societies.
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Ownership of minimum 2 vehicles/assets from at least 1 year