HEAVY DUTY TRUCK (HDT) Defined as Heavy Commercial Vehicles or alternatively Multi Axle Vehicles having gross vehicle weight upwards of 16.2 tons. Being a life line of the economy, these vehicles are an integral part of the commercial activity of any country and these vehicles are usually deployed in the long haul distance and in transportation of materials at the ports as also in the extraction of natural resources like Iron or Coal etc.
New India Finance co. offers financing options for the purchase of both new and used vehicles to this segment which has some of the bigger fleet owners on one end of the spectrum and the small fleet / single vehicle owner on the other.
MEDIUM, INTERMEDIATE AND LIGHT DUTY TRUCK (LDT) These vehicles have a gross vehicle weight ranging from 5 to 16.2 tones and are engaged in medium haulage business especially connecting rural/ semi urban roads to urban centers. The population of these vehicles is estimated to be around 5 million.
PICK UP TRUCK AND MINI TRUCK ( P&MT) These vehicles have a GVW of less than 5 tons and they fulfill the role of transportation in the spoke in a hub and spoke arrangement. These vehicles have high concentrations in short hauls and last mile delivery situations. Nearly 3 million of these vehicles occupy the bottom end of this industry of which about 0.3 to 0.5 million vehicles are three wheeler goods carrying vehicles, the balance being four wheelers.
PASSENGER VEHICLE (PV) people moving from one place to another is catered to by a wide range of passenger vehicles starting from simple three wheelers, taxis, muv’s, vans to high cost and state of the art Volvo / Mercedes buses travelling across the length and breadth of the country.
FARM EQUIPMENT (FE) our population is engaged in agriculture. New India finance cater to the requirement of finance from buyers of tractors, harvesters and various other farm equipments which are deployed both for agricultural and commercial purposes.
New India Finance co. gives flexible loan options to prospective buyers of these vehicles which incidentally has the highest concentration of the small operator and driver cum owner category of vehicle users.
CONSTRUCTION VEHICLE & EQUIPMENT (CVE) New India Finance co., we do continue to fund the retail portion of this vast business with easy solutions for buyers of tippers, dumpers, backhoe loaders and cranes and as also for the purchase of pre owned construction equipment.
New India Finance co. gives flexible loan options to prospective buyers of these vehicles which incidentally has the highest concentration of the small operator and driver cum owner category of vehicle users.