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Dealer Finance

• 100% transparency maintained
• Minimal documents required
• No hidden charges would applicable
Enquiry Form
Dealer Finance
Bank Name Min Interest Rate Processing Fee Max Loan (Lacs) Max Tenure (Month)
Bank Name Min Interest Rate
₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by Dealer finance Eligibility Criteria?

This facility helps the Dealer to get finance without pledging collateral/assets to manage better cash flow. You can enjoy the exclusive benefits included with it but make sure you meet the criteria.

Dealer finance Eligibility Criteria

Eligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.

Eligibility Criteria

  • • Applicant age should be in-between 25 - 65 years of age
  • • Minimum 3 years of business continuity
  • • Credit score must be above 750
  • • Resident of Indian

Note: - You can get up to 20 Cr as a maximum loan amount.

What are the factors generally affecting Dealer finance Eligibility Criteria?

There are top factors that generally affects dealer finance eligibility criteria as given below: -

Bad Credit score: - Credit score is the reflection of your creditworthiness, if you ever missed or payment taken after due date will affect your credit as well as your eligibility.

Less year of business continuity: - As stated above in criteria that business existing year should be more than 3, wherein less year of business continuity known to be ineligible.

What are the ways to increase Dealer finance eligibility?

To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.

Prefer to do payment on time: - Consider this point & make it happen, by doing payment on time whether it's an eligibility bill or existing loan EMI you can build a strong credit score which helps you to get loan easier.

Clear debt: - Try to clear your existing loan as much as easier before applying for new loan as it will help you to show stable income

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. PHOTOGRAPHS 2
  2. PAN CARD COPY
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR
  3. ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
  4. OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST RETURN LAST 1 YEARS
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
  3. ADDRESS PROOF – COMPANY AND DIRECTORS
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
  7. 1 YEAR GST RETURNS
  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

How to get Dealer Finance?

Getting a Dealer Finance much earlier, you have to choose your banking partner & get the application form through their website or visit nearby bank, then request for the application form fill it & attach required document to submit, Shortly representative will contact you.

What are the other charges applicable in processing Dealer Finance?

  • Processing fee
  • Statement charges
  • Penal interest
  • Pre part payment fee
  • Foreclosure charges
  • These are the common charges applied in Dealer Finance.

What is the current Interest Rate of Dealer Finance?

Dealer Finance Interest Rate starting @16.00% onwards.

How much loan amount can I get through Dealer Finance?

Dealer Finance allows you to get minimum 10 lacs to maximum 20 Crores.

How much processing fee applicable to Dealer Finance?

Generally, up to 2.00% of loan amount is charged as a processing fee to process your loan application.

How does Dealer Finance works?

Dealer Finance are offered by various Bank & FI’s to get finance for purchasing new vehicle where you enter into an agreement to dealer through banking partner.

What is Dealer Finance?

Dealer Finance is a type of loan in which retainer offer vehicle at finance to customer & sold to bank at discounted price as a third party. Customers get finance from banks on agreed terms.

Which are the vehicle banks funds Dealer Finance?

For any two-wheeler, four-wheeler, tractor & commercial vehicles banks do funding.

Who can apply for Dealer Finance?

You must be self-employed with a minimum of 3 years of business vintage & had filed ITR for at least last 1 year.

Related Topics

credit-report
business Credit Report
Improve Credit Report
Get Financial Statement

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