Used Passenger Commercial Vehicle Finance
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Shriram Used Passenger Commercial Vehicle Finance: Overview
Shriram Finance offers simple and flexible support for those planning to buy a used passenger commercial vehicle. You can get up to 90%* of the vehicle’s value financed, which reduces the need for a large down payment.
With repayment tenures ranging between 12 and 84 months, the loan can be matched to your earnings and business flow. The process is quick, with minimal paperwork, and our team stays involved to guide you at each stage. It’s a smooth and reliable way to add vehicles to your business without delays.
Shriram Used Passenger Commercial Vehicle Finance Interest Rates & Charges
Understanding the Used Passenger Commercial Vehicle Finance interest rates is essential before applying. The rate offered to you may vary based on several factors - such as your credit profile, the amount you need, and the repayment period you choose. These rates are set after careful evaluation and are meant to match your financial circumstances and vehicle type. Along with interest, there may be other applicable costs, including processing charges, overdue interest, and late payment fees if installments are delayed.
For accurate and updated details on rates and related charges, please contact your nearest Shriram branch or speak directly with a representative. You may also refer to the Interest Rate Policy to understand how rates are determined and what charges may apply over the loan period.
Please refer to the table below for current interest rates and applicable charges
Interest Rate
Processing Fees
Foreclosure Charges
Loan Tenure
Who Is Eligible for Used Passenger Commercial Vehicle Finance?
To apply for Shriram Used Passenger Commercial Vehicle Finance, certain basic conditions must be met. These help ensure that the loan is suitable for the business and financial position:
The applicant must be at least 18 years old. At the time the loan ends, they should not be older than 70 years of age.
A registered business is required, along with a valid Permanent Account Number (PAN) and Goods and Services Tax (GST) number.
The applicant should have been active in the transport sector for at least 1–2 years.
Proof of a steady income, such as bank statements or financial records, may be needed.
A valid driving licence and commercial transport permits (if applicable) should be in place.
Frequently Asked Questions
What documents are required for a Used Passenger Commercial Vehicle Finance?
Documents required for Shriram Used Passenger Commercial Vehicle Finance include:
- Business registration documents (if applicable)
- Proof of identity (Aadhaar, Passport, Driving Licence)
- Proof of address (Utility Bill, Bank Statement)
- Proof of income (Bank Statements, Tax Returns)
- Vehicle registration documents
- ITR returns (past 2 years)
What is the minimum and maximum loan amount for Used Passenger Commercial Vehicle Finance?
Shriram Used Passenger Commercial Vehicle Finance offers loanable amounts of up to 90%* of the vehicle's value. However, the exact loan amount depends on the vehicle and applicant profile.
What is the repayment tenure for Shriram Used Passenger Commercial Vehicle Finance?
Repayment periods are flexible, ranging from 12 to 84 months, allowing you to choose a tenure that suits your business needs.
What is the processing fee for a Used Passenger Commercial Vehicle Finance?
The processing fee is up to 5%* of the loan amount; exact charges may vary based on the loan terms and applicant profile.
How can I obtain a loan for a used commercial goods vehicle?
You can easily apply online through Shriram Finance website or via Shriram One app by submitting the necessary details. The process is straightforward, and you can expect loan approval within a few days, making it quick and hassle-free.