Used Car

Here’s how Fintechs are helping used car firms to boost sales

Droom Technology, the online transactional platform for automobiles, recently acquired Delhi-based non-banking financing company, Xeraphin Finvest, for an estimated USD 3 – 3.5 million. The online auto services provider is expanding its fintech business under Droom Credit Business Unit to drive auto loan disbursals and insurance for purchase of preowned vehicles and facilitate dealer financing options. In contrast to declining ... Read More »

Tesla’s service and used car revenue is growing, but can’t make up for a plunge in US vehicle sales

While Tesla’s overall sales dropped 39% in the U.S. during the third quarter, the company is seeing robust growth on “services and other” revenue, which includes sales of used cars. Revenue in that category jumped 68% to $548 million from $326 a year earlier, according to Tesla’s latest financial filing. Over the first nine months of 2019, it grew 91% to $1.65 ... Read More »

Truebil offers 7 day trial period for used car buyers

New Delhi: Auto-tech platform for buying and selling of pre-owned cars Truebil on Wednesday has announced a seven day trial period offer. Under the new scheme, pre-owned car buyers from Truebil’s platform will be given a 7 day trial period and if the car does not meet the buyer’s purchase criteria, the company will refund the money. The customer has to ensure that ... Read More »

Spurred by robust used car sales, Cars24 to expand its network in India

Bengaluru: On the back of buoyant sales of used cars in India, Gurugram-headquartered tech-enabled used car company Cars24 is investing heavily on growing its presence across the country, and on improving its back-end technology, according to a top company official. Gajendra Jangid, co-founder and chief marketing officer of Cars24, in an interview to Mint, said that the company sells 13,500 cars ... Read More »

Major Tips on How to Inspect a Used Car Prior to Purchasing

Major Tips on How to Inspect a Used Car Prior to Purchasing The used cars are in great demand in the pre-owned market. People buy them 3.5 times more often than new ones. There are several reasons for this. For those who do not have enough money, this is the only opportunity to drive. For others, this is a conscious ... Read More »

9 Things To Keep In Mind When Buying A Used Car Online

It’s a highly digitised world where what can be done online is being done online. The added convenience of online shopping extends to buying cars as well, especially used cars. Sure you can configure and pre-order a new car from a manufacturer’s website but when you’re looking to buy a used car, it’s a bit more complicated. While there are ... Read More »

Higher depreciation rate may lift used-vehicles market

Besides bringing down resale value, it will lead to lower insurance premium: Industry players The doubling of depreciation rate to 30 per cent for vehicles bought until March 31, 2020, as announced by Finance Minister Nirmala Sitharaman on Friday, augurs well for the used-vehicles market, say industry players. A higher depreciation rate will mean that the resale value will come ... Read More »

Things to be noted before you buy used car online

Scams can come in any number of forms and disguises and you have to ensure that you do not become a victim. (Representational Image) Purchasing an automobile is a major investment for anyone, especially today when the world has gone digital. With shopping increasingly going online, the wise customer is one who is vigilant and takes steps to protect himself ... Read More »

Buying A Used Car – Should Mileage Be The Only Factor?

The foremost factor that comes to mind when considering a used car is how many kilometres it has been driven. For instance, if you were choosing between two similarly priced cars of the same make and year, and one had 40,000km on it while the other’s odometer read 55,000km, you’re more likely to be inclined towards the first one as ... Read More »

Why online brands are going offline to tap fast-growing used car market

In India for every new car sold, there are 1.3 to 1.5 used cars sold. The ratio in US is around 2.5. Armed with $110 million funding received in January, Girnar Software-owned CarDekho is building a network of 200 used car dealerships across the country. It has already set up 31 stores altogether in Delhi-NCR, Bengaluru and Jaipur. Four new ... Read More »