Keep every vehicle loan tied to its asset.
An asset that moves, a borrower who is often thin-file, a field that does the collecting. AI agents read the RC, insurance, bounce and cohort on every account and prepare the next action. Your policy sets the bounds; a named approver releases the step.
30 minutes with the product team. No generic demo.
Vehicle and EV loans, on a platform built by the team behind Apache Fineract, the world's #1 open-source lending core.
The financial account and the physical asset never become two operating records. Every event on the right lands on the loan on the left.
- Two-wheeler
- Car and used car
- Commercial vehicle
- Tractor
- Electric vehicle
Every flagged account arrives with the asset and the history behind it.
A bounce is one fact. RC endorsed, vehicle insured, last promise kept, dealer's book rolling: the AI agent reads all of it before it proposes anything.
Two accounts, the same missed instalment.
| What the agent reads | A tractor loan between harvests | A two-wheeler that stopped paying |
|---|---|---|
| The schedule | Half-yearly, on the crop cycle; next due after harvest. | Monthly NACH on the fifth; the last two bounced. |
| The asset | RC endorsed, insured, in the field where booked. | RC pending since booking; own-damage cover lapsed in June. |
| Contact history | Reached first call each season; every promise kept. | Two calls unanswered; the guarantor reached once. |
| What the agent stages | Nothing. Not due; the account stays on watch. | A call in the permitted hours, a field visit, the insurance remediation. Repossession is not on the table, and the record says why. |
A tractor loan between harvests
- The schedule
- Half-yearly, on the crop cycle; next due after harvest.
- The asset
- RC endorsed, insured, in the field where booked.
- Contact history
- Reached first call each season; every promise kept.
- What the agent stages
- Nothing. Not due; the account stays on watch.
A two-wheeler that stopped paying
- The schedule
- Monthly NACH on the fifth; the last two bounced.
- The asset
- RC pending since booking; own-damage cover lapsed in June.
- Contact history
- Two calls unanswered; the guarantor reached once.
- What the agent stages
- A call in the permitted hours, a field visit, the insurance remediation. Repossession is not on the table, and the record says why.
Repossession is a procedure the record can prove.
The rules put the whole path in the loan agreement. The AI agent prepares each step with its evidence, a named approver decides the possession, and the conduct rules travel to the field.
- Step 1Cure firstCalls in the permitted hours, a field visit by cohort, every attempt logged.
- Step 2Notice per the agreementThe notice period the agreement carries, served and evidenced; any waiver recorded.
- Step 3A final chance to repayBefore any sale, the chance the rules require, on the record.
- Step 4Possession, staged and signedA named approver decides; the field agent is identified by name; conduct rules travel with the instruction.
- Step 5Sale, settlement, releaseSale on the record, surplus or shortfall settled, hypothecation terminated on the RC.
No call before 8am or after 7pm, no intimidation, and you answer for your agents, under RBI's recovery-agent directions of August 2022.
The financial account and the physical asset are one record.
RC, repossession and schedule sit on one loan record; Lokta runs each as a first-class operation.
- Hypothecation and RCStatus through the loan, the RC-pending report, Form 34 at start and termination at closure.
- Repo and seize handlingGoverned actions on the account, with the sale and settlement that follow.
- Schedules per IRRFlat rate converted to IRR; monthly, quarterly or half-yearly, so a tractor repays on the harvest.
- Advance EMI and tranchesAdvance instalments at booking, tranche and trade advance, direct payout to the dealer.
- New, used, refinance, EVVehicle and EV details on the loan; used and refinance on the same product family.
- Co-applicants and guarantorsLinked repayment tracking, so the guarantor is reached when the borrower is not.
30 minutes with the product team. No generic demo.
Everything you expect from a vehicle-loan LMS, before any of the above.
Six things Lokta's loan management system does on every vehicle account, stated so you can tick them off.
- Repayment eventsPrepayment, part-payment, foreclosure, moratorium and restructure, re-amortised paise-exact.
- Payments and mandatesNACH, UPI and gateway receipts in the product's waterfall; bounces and re-presentation.
- ChargesFees and penal charges under the 2024 directions, waivable only under maker-checker.
- ClassificationDPD, SMA and IRAC stages, provisioning and Ind-AS, derived from the record daily.
- Statements and documentsStatements, the NOC at closure, KFS and APR disclosure on demand.
- Bureau and accountingBureau connector, double-entry posting to mapped GL heads, the audit trail behind every change.
Five things decide whether a vehicle book keeps its margin.
The market's or the regulator's number, not ours, and what Lokta does about each.
- 01
The biggest band is the stressed one
4.7% PAR 31-180 on two-wheeler loans at Dec 2025, against 3.0% on auto
The ₹75,000 to ₹1 lakh two-wheeler is 42% of what gets written and runs 1.97% at 91-180; the average hides it.
So Lokta reads each cohort by dealer, pincode and ticket against its own history.
CRIF High Mark, How India Lends, Feb 2026 - 02
The gap is the collection
3.5x NBFC auto-loan PAR 91-180 against public-sector banks at Dec 2025 (0.87% against 0.25%)
Same asset, same quarter; the difference is what happens after the bounce.
So Lokta tests collection strategies per cohort and promotes the one that cures.
CRIF High Mark, How India Lends, Feb 2026 - 03
Repossession is a procedure
6 terms the agreement must carry before an NBFC repossesses, per RBI's Fair Practices Code
Notice, waiver, possession, a final chance to repay, return and sale, all in the agreement; the Supreme Court on record against strong-arm recovery since 2007.
So Lokta stages each step, notice, date and evidence, for a named approver.
RBI, Fair Practices Code for NBFCs, 2009; recovery-agent directions, Aug 2022 - 04
The last clock costs money by the day
₹5,000 a day for lender-attributable delay past 30 days of full repayment
On a vehicle loan to an individual the NOC and the hypothecation termination are due within 30 days of the last payment.
So Lokta runs the clock from the closing receipt and stages the release.
RBI, Responsible Lending Conduct, Sep 2023 - 05
Insurance is two clocks
3 and 5 years of third-party cover on a new car and a new two-wheeler since September 2018
Own-damage cover and the lender's loss-payee endorsement renew yearly, and an uninsured asset is an unrecoverable one.
So Lokta holds each vehicle's renewal clock and stages the reminder, then the remediation.
IRDAI, Aug 2018
Comparing loan management systems first?
One platform, configured for vehicle and EV loans.
The same loan management system, servicing agents and lending ontology run every book; on this one the policy and the workflow are shaped for an asset that moves and a field that collects. How control works, where it runs, and how it differs from a record-keeping LMS are on the Solutions page, said once.
What lenders ask first.
What does Lokta do on a vehicle-loan book after disbursal?
It runs the loan and defends the asset: IRR schedules, advance EMI, hypothecation and RC per vehicle, insurance renewal, field collections by cohort, and repossession as a staged, signed procedure. Origination, underwriting and dealer sourcing stay with you.
How is repossession handled?
Your agreement carries the notice period, waiver conditions, possession, a final chance to repay, return and sale. Lokta stages each step with its evidence, a named approver decides the possession, and sale, settlement and hypothecation termination follow.
What happens at closure?
The NOC and the RC's hypothecation termination are due within 30 days of full repayment on a vehicle loan to an individual; delay you cause costs ₹5,000 a day under RBI's 2023 directions. Lokta runs the clock from the closing receipt.
Which vehicle books does this cover?
Two-wheeler, car and used car, commercial vehicle, tractor and EV, on one product family. A tractor repays quarterly or half-yearly on the crop cycle; an EV loan carries its EV details; all share the hypothecation, insurance and NOC clocks.
Do we have to replace our LOS, our underwriting or our LMS?
Not your LOS and not your credit decisions: Lokta runs the book after approval and takes the sanctioned terms as given. Not your LMS either, unless you want to. The servicing agents run on the core you already have, connecting to it for borrower and loan context and staging work into it; a book can move onto Lokta's own loan management system when you are ready, one book at a time.
What happens after we show you our book?
Thirty minutes with the product team on your own portfolio: the two-wheeler, auto, CV and tractor mix, how RC and insurance status reaches you today, and how the field is routed. Within a business day you get either a specific next step or an honest account of what would have to be true first.
Bring us one difficult workflow.
Your mix of two-wheeler, auto, CV and tractor, how the field is routed today, and where repossession costs you the most. You get a straight read on fit and direct access to the founding team.