Vehicle loan is the loan (or the use of) a motor vehicle for a fixed period of time at an agreed amount of money. It is commonly by dealers as substitute to vehicle purchase but is widely used by businesses as a method of procuring (or having the use of) vehicles for business, without the usually needed cash outlay. The subject of vehicle loan constitutes the different financial products which allows someone to acquire a vehicle.Vehicle finance is needed by both private individuals and businesses. All types of finance products are available to either sector, however the market share by finance type for each sector differs, partly because business contract hire can provide tax and cashflow benefits to businesses.
Proof of individual’s identity (We also require same KYC of co-applicant)