Loans
Vehicle Loan
Vehicle finance across new and used two wheelers, passenger cars and commercial vehicles, sourced to partner lenders. The vehicle itself is the security and is hypothecated to the lender until the loan closes, which is the detail most borrowers meet only when they try to sell.
What you get
- New and used two wheelers, cars and commercial vehicles
- Vehicle hypothecated to the lender until the loan is closed
- Down payment and tenure options shown before the application
- Used vehicle valuation arranged where the lender requires one
- Commercial vehicle finance assessed on the earning use of the vehicle
- Application tracked through to disbursal to the dealer or seller
FAQ
About vehicle loan
What is hypothecation and when does it end?
The lender name is recorded against the vehicle registration as the financier, which prevents a sale or transfer while the loan runs. It does not end automatically on the last instalment: the borrower takes the no objection certificate from the lender to the RTO to have the entry removed. A vehicle sold with hypothecation still recorded creates a problem for both parties.