Commercial vehicle loans are loans offered to borrowers, usually self-employed individuals, trusts, partnership firms, organisations, etc., for the purchase of vehicles for commercial or business purposes. These Car loans are availed by those who are involved in the transportation business. A commercial vehicle loan can be used to purchase buses, trucks, tippers, tankers, light and small commercial vehicles.

Loan insurance or loan protection insurance is a very different and specific product. It covers the loan amount of the specific loan that a borrower has availed, be it personal loan, vehicle loan, or home loan. ... The insurer awards the insured amount to the beneficiary in case the policy holder dies or is incapacitated.

A Heavy vehicle loan provides funds to borrowers to purchase a vehicle to individuals and organizations for commercial use. It is similar to a car loan; however, car loans are specifically catered towards private vehicles. A Heavy vehicle loan finances the purchase of commercial vehicles.