For availing a commercial vehicle, one has to approach a bank or a non-banking finance company (NBFC). One can select the vehicle and estimate the finance amount required, based on the repayment period and your repayment capacity.

Additionally, one also has the flexibility to select a finance scheme that suits his/her needs and once approved, the borrower can make the initial payment (usually, this is the margin money).

Once the payments are made, a delivery order for the vehicle is placed and the vehicle of the borrower’s choice is delivered to him/her. The lender – bank or NBFC- will discuss all the documentation required with the borrower upfront.