Vehicle Loan

A Vehicle Loan is a type of secured loan offered by Manasvi Capital to help individuals or businesses purchase a new or used vehicle—such as a two-wheeler, car, or commercial vehicle. The vehicle itself serves as the collateral(HPN) until the loan is fully repaid.

Key Features of a Vehicle Loan

Feature	Details
Loan Type	Secured loan (vehicle is hypothecated to lender)
Loan Purpose	Purchase of new or used two-wheeler, car, or commercial vehicle
Loan Amount	Up to 90–100% of the vehicle’s on-road price
Interest Rate	Ranges from 7.5% to 18% p.a. (varies by credit profile & vehicle)
Loan Tenure	Usually 1 to 7 years
Collateral	The vehicle purchased
Ownership	Remains with the borrower, but hypothecated to lender till repayment

Types of Vehicle Loans

New Car Loan– For purchasing a brand-new car
Used Car Loan– For buying a pre-owned car
Two-Wheeler Loan– For scooters, bikes, etc.
Commercial Vehicle Loan– For trucks, autos, vans used for business

Eligibility Criteria

Age: 21 to 65 years
Income: Minimum ₹10,000–25,000/month (varies by lender)
Employment: Salaried or self-employed
Credit Score: Preferably 700 and above

Documents Required

For Individuals	For Businesses
PAN card, Aadhaar, Passport-size photo	Company PAN card & registration docs
Address Proof (utility bill, Aadhaar)	GST Return / ITR / Bank statement
Income Proof (Salary slips, ITR)	Audited balance sheet / P&L statement
Bank statements (last 6 months)	Business address proof
Quotation of vehicle	Vehicle proforma invoice

Advantages

Affordable EMIs with flexible tenure
Fast processing and easy approval
Option for pre-closure or part-payment
Improves credit score if EMIs are paid timely

Example:

If you buy a new bike worth ₹90,000:

Loan approved: ₹81,000 (90%)
Down payment: ₹9,000
EMI: ~₹2,500/month for 36 months
Interest rate: ~12% p.a.