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Commercial automobile loans are loans provided to borrowers, often self-employed people, trusts

Commercial automobile loans are loans provided to borrowers, often self-employed people, trusts

Commercial Car Loan Documentation

  • Duly filled application with connected photograph
  • 2 passport-size photographs
  • Cheque for processing fee

KYC papers

  • Age evidence- Aadhaar Card/PAN Card/Voter’s ID card/Driving License/Passport (anyone)
  • identification proof- Aadhaar Card/Voter’s ID card/Driving License/Passport (anybody)
  • Residence evidence- Rental agreement/Voter’s ID Card/Passport/Ration card/Tel bill or Elec. Bill/Trade License/ product Sales income tax Certificate (Any one)
  • Signature verification proof-Driving License/PAN Card/Registered Sale Deed/Govt. ID Card (For Govt. Workers) (anybody)

Earnings proof

  • Final a couple of months Salary Slips
  • Latest half a year bank declaration
  • Form No. 16
  • Updated ITR for final 24 months
  • Photocopy of official ID

Experience proof

  • Legitimate documents to show experience that is relevantin case there is first-time purchasers)

Other Papers (As relevant)

  • Current car ownership evidence
  • Vehicle details & valuation report
  • Insurance and RC content https://paydayloansnc.net/ of automobile
  • Fleet list details (In instance of little, moderate, and large fleet operators/owners)
  • Trade sources (in case there is first-time purchasers, fleet operators/owners & experienced borrowers)
  • home ownership evidence (in the event of farmers)
  • Proprietorship decl., partnership deed, (MOA/AOA), board resolution & a couple of years audited financials (in case there is Private/Limited organizations, partnership businesses, trusts & communities)
  • Loan repayment track (if any)

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