Loan Products – Commercial Vehicle Leasing

Chattel Mortgage Truck Finance – In Chattel Mortgage truck finance, your truck, which is referred to as a Chattel, will be used as collateral or security against the truck finance loan. Once the deal is finalised, you will gain ownership of the truck and you will need to make repayments according to the agreement. You can also pay a deposit to reduce your monthly repayment.

Truck Leasing – If your business is a heavy truck user, this option is ideal for you. You get to lease a truck for a fixed period, and you have to make monthly payments for the same. Here, the truck is loaned to you. Though you are not the owner, you would still need to bear the maintenance costs while it is in your possession. Once the term is over, either you can pay the residual amount and own the truck or return to the leaser once used.

Commercial Vehicle Leasing: This is another leasing option we offer for commercial vehicles, not just trucks, where you lease the vehicle for a fixed term and pay a fixed amount every month. The lender will own the vehicle and you will be responsible for maintenance in the duration you possess the vehicle.

Commercial Hire Purchase: Here, you get to hire a commercial vehicle or a fleet of commercial vehicles, but you will pay the amount in instalments. You will hire the vehicle until you can pay the full amount of the vehicle, after which it will be in your possession.

Rent to Own Truck Financing – This is similar to CHP, where you rent a truck and do not bear the burden of being an owner of the truck. Once the lease term is up, you can either choose to pay off the residual amount and transfer the ownership to you, or you return the vehicle to the lender. This is considered as an off-balance sheet item.