Used commercial vehicle financing is harder than new — but every major Indian lender does it. Here's what works in 2026.
Who lends for used CVs
- Bajaj Finserv — 90% LTV on vehicles up to 8 years old, fastest disbursal (24-48 hours)
- Tata Capital — preferred for Tata vehicles, dealer-tied processing
- HDFC Auto Finance — strict eligibility but lowest rates if you qualify (9.5-11%)
- Mahindra Finance — rural reach, preferred for Mahindra vehicles
- Cholamandalam — flexible for first-time drivers
Documents you'll need
- PAN + Aadhaar
- Address proof (utility bill or rent agreement)
- Bank statements (last 6 months)
- Driving licence
- Vehicle RC + insurance + fitness certificate
- Income proof (ITR for 2 years, or salary slips for 3 months)
Typical terms in 2026
- Loan amount: ₹2 L – ₹50 L
- Interest rate: 11% – 16%
- Tenure: 12 – 60 months
- LTV: 70% – 90%
- Processing fee: 1.5% – 2.5%
Use the EMI calculator
Plug in your target vehicle's price and see monthly EMI before you commit.
Top tip
Get pre-approved before visiting the seller. Lenders issue a sanction letter that locks in your rate and amount. Sellers take you more seriously, and you don't lose deals waiting for approval.