CARS24, Bajaj Fin team up

Hyderabad: In a view to enable financial stability to own a car on a flexible mode of finacing, CARS24, India's leading e-commerce platform for pre-owned vehicles has partnered with Bajaj Finance to lift the veil from used car financing and facilitate a quick, frictionless and streamlined shopping experience.

This move follows a Series G funding round announced in December 2021 that raised $400M for the used cars e-commerce player. While the consumer demand for pre-owned vehicles is skyrocketing, the consumer financing penetration in the Indian used cars industry stands at only 15 per cent.

Ruchit Agarwal, co-founder & CFO, CARS24, said: "CARS24 is poised to rewrite the industry rules. We are on a mission to fulfill the dream of more Indians to own a car by focusing on delivering a fully seamless financing solution to our consumers. In this process, we are sure our partnership with Bajaj Finance Ltd.

will prove to be a perfect product market fit. 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."