The loan amount depends on factors like the vehicle’s cost, your financial profile, and the lender’s policies. Typically, lenders offer up to 90% of the vehicle’s on-road price, subject to eligibility and documentation.

A Medium Commercial Vehicles (MCV) Loan is a financial product that helps businesses and individuals purchase medium-sized commercial vehicles, such as trucks, buses, and delivery vans. It provides funds to buy new or used vehicles for business operations, transportation, or logistics purposes, with flexible repayment terms and competitive interest rates.

Most lenders require a down payment, which is usually 10-25% of the vehicle’s cost. Some financial institutions offer 100% financing, but these loans may come with higher interest rates or stricter eligibility criteria. The down payment amount depends on the lender’s policy and applicant’s creditworthiness.

Yes, many lenders offer financing for used heavy commercial vehicles. However, the vehicle’s age, condition, and resale value affect the loan amount and interest rates. Typically, lenders finance up to 75-90% of the vehicle’s valuation, with shorter repayment tenures compared to loans for new vehicles.