Used Car Platform Cars24 ties up with Bajaj Finance
Online used car platform Cars24 has recently tied up with the financial service provider Bajaj Finance in an attempt to allow the latter to finance the pre-owned cars for customers. Cars24 Financial Services which is a wholly owned subsidiary provides financing services to used car buyers.
This partnership would allow the startup to increase its penetration into the pre-owned car marketplace and enable consumers to experience hassle free financial services from Bajaj Finance Limited.
A press release by Cars24 revealed that the startup believes while the demand for pre-owned vehicles has surged over the years, a market penetration in terms of financing in the domestic used cars industry stands at only 15 per cent.
Through their collaboration the two entities aim to enable financial flexibility along with increasing the accessibility of owning the car for its customers.
Talking about the recent partnership and the profound implication of the same, the Co-founder and CFO of Cars24, Ruchit Agarwal said, ”Cars24, along with BFL, is putting the consumer first when it comes to financing used car purchases- all combined with ease of use, highest quality customer experience and transferring control back to the consumer.”
With the new integration, the used car marketplace can expect hassle free transfer of vehicles with easy loan procurement and minimal documentation all at one place.
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