Online used car platform CARS24 on Thursday announced its partnership with Bajaj Finance for financing of pre-owned cars for customers. CARS24 Financial Services Pvt Ltd, a wholly-owned subsidiary of CARS24 Services, offers car financing to used car buyers.
This partnership will lead to increased penetration in the used cars industry and enable consumers to further enjoy a hassle free customer experience with financial solutions from Bajaj Finance Ltd(BFL), CARS24 said in a release.
According to CARS24, while the demand for pre-owned vehicles is skyrocketing, the financing penetration in the domestic used cars industry stands at only around 15 per cent.
Realizing the key role financing plays when investing in a car, CARS24 and Bajaj Finance Ltd, through their collaboration will enable consumers to improve their financial flexibility besides providing greater accessibility of owning a car, it 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," said Ruchit Agarwal, Co-founder- CFO, CARS24.