IPDC :: Vehicle Leasing ::

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Vehicle Leasing

Eligibility

Commercial Vehicle Financing
Criteria:
Vehicles to be used in normal course of business for revenue generation Any Proprietorship/Partnership-firm/Private/Public Limited Company with track record of profitable business operation and sufficient cash flows to service the periodical rental payments Ownership of a vehicle is not mandatory if the proposed vehicle is to be used for transportation of own goods
Executive Vehicle Financing
Criteria:
Vehicles to be used for executives of business houses Any Proprietorship/Partnership-firm/Private/Public Limited Company with track record of profitable business operation and sufficient cash flows to service the periodical rental payments No requirement of having any existing vehicles
Lease Amount

Commercial Vehicle Financing
Lease amount can vary depending upon the specific requirement Funding can be upto the extent of 100 % of the vehicle including the body fabrication in case of special requirement & on the past experience Tie up with the leading manufacturers and suppliers enables us to give the best deals to our customers
Executive Vehicle Financing
Our rates are one of the most competitive in the market and most often better than what other NBFIs can offer The interest rates are calculated on a reducing balance method Documentation & Appraisal fees Minimal Transfer Price.
Application Process & Required Documents

Memorandum and Articles of the company for a Limited Company Form XII of the Company / Shareholding Details (if applicable) Trade License of the borrowing company & Certificate of Incorporation Company Information with details about present production facility. (Company profile covering products, departments, buyers) Documents in support of the vehicle, machinery/equipment (eg. Quotation, Proforma Invoice, Commercial Invoice, Bill of Lading, etc) Last 3(three) years audited financials (Balance Sheet, Income Statement, Cash Flow Statement) of the concerned unit List of all present lenders with sanctioned date, sanctioned limits, outstanding amount, rate of interest, etc. (Lending + Deposit Relationship) Trade Licence & TIN of the company Any other document, if require
Repayment

In general repayment period is of 3 - 5 years , however depending on the nature of the deal, the tenure may vary according to the need of the client. Monthly/Quarterly rental to be paid through Post Dated Cheques (PDCs) or Bank Transfers The repayment schedule is provided at the time of disbursement of the funds Comprehensive insurance coverage is required for vehicles The ownership of the vehicle can be transferred in favor of the client at the expiry of the lease with nominal transfer fee

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