What Can You Finance?

At Advika Finance, vehicle financing covers:

  • Two-Wheeler Loans: For scooters and motorcycles used for personal travel or work.
  • Car Loans: For personal or family cars.
  • Used Vehicle Loans: Financing is available for pre-owned vehicles as well as new ones.
  • Commercial Vehicle Loans: For certain commercial vehicles used to run or grow a business.

Vehicle loans are available up to ₹5 lakhs, depending on your eligibility, income stability and repayment capacity. You can read the full details on our Vehicle Loan page.

Who Is Eligible?

Salaried employees, self-employed individuals, business owners and entrepreneurs with a stable income and valid documents can apply. The amount you're offered mainly depends on three things:

  • Income stability: A regular income, whether it's a salary or business earnings, shows that you can keep up with repayments.
  • Repayment capacity: How comfortably the instalment fits alongside your other monthly commitments.
  • Documents: Clear, valid documents make the review faster and simpler.

Documents to Keep Ready

Basic KYC and income documents are required. Our team will confirm the exact list for your case, but it helps to have these ready:

  • Identity proof
  • Address proof
  • Income-related documents, such as salary slips, bank statements or business records
  • Vehicle details (for example, the quotation for a new vehicle or the details of the used vehicle)

If you're unsure about any document, just ask. We help you complete the paperwork correctly so the application isn't held up.

The 4 Steps to Your Vehicle Loan

  • Step 1 – Submit your enquiry: Call us or visit our office and tell us about the vehicle you want to buy.
  • Step 2 – Provide the documents: Share your identity, address and income documents for verification.
  • Step 3 – Get approval: Once your documents are reviewed, we inform you clearly about the approval and the loan details.
  • Step 4 – Receive the funds and buy your vehicle: After approval, the funds are disbursed so you can complete the purchase.

Choosing a Repayment Schedule

Advika Finance offers daily, weekly and monthly instalments. Choose the one that matches how you earn: a salaried buyer usually prefers monthly payments, while someone with daily business income may find smaller daily or weekly payments easier. Our guide to choosing a repayment plan covers this in more detail.

Tips for a Smooth Application

  • Decide on your vehicle and get a quotation before you apply.
  • Work out an instalment you can pay comfortably every period, not just in a good month.
  • Ask for the interest, repayment schedule and all charges to be explained before you sign. At Advika Finance these are always explained clearly before final approval.
  • Keep copies of all your documents in one folder.