FAQ
Do you provide commercial vehicle finance?
Yes, we provide finance for all makes of commercial vehicles.
What is the maximum loan amount I can get?
You can avail a maximum loan of up to 100% of the chassis value of commercial vehicle under consideration.
If I do not meet the eligibility criteria for the loan, is there a way I could still avail it?
Yes, you could. In such a situation, you could apply for the loan along with a co-applicant and your application will be considered based on the financial and credit profile of your co-applicant. However, please note that all approvals will be at the sole discretion of Baid Leasing and Finance Company Limited.
Do I need a guarantor?
Based on your profile and credit strengths, this requirement could be waived. However, in other cases you may be required to provide a guarantor.
Who can be the co-applicants for the loan?
You can have the following as your co-applicants:
A parent (father or mother), sibling (brother or sister) and spouse.
How do I obtain commercial vehicle finance?
You select the vehicle and estimate the finance amount required based on the repayment period and also your repayment capacity.
You also have the flexibility to select a finance scheme that suits your needs and once approved, you can make the initial payment (generally the margin money).
Once the payments are made, a delivery order for the vehicle is placed and the vehicle of your choice is delivered to you Where body construction is involved, a moratorium for the payment of the first installments is allowed to facilitate the completion of the bodywork.
All the documentation required would be discussed with you up-front.
Can I sell the vehicle / asset before I repay the loan?
No, you cannot sell the vehicle / asset unless your loan account has zero outstanding.
