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Financiers buy into India's used car business amid uptick in demand

An expansion of demand driven by economic uncertainty has accelerated the plans of organised players to tie up with banks and NBFCs

Topics
Used car market | domestic pre-owned car market | NBFCs

Shally Seth Mohile  |  Mumbai 

used car, second-hand cars, auto demand, automobile, cars, vehicles
GirnarSoft, which owns CarDekho, an online marketplace for used cars, has seen the share of buyers who opt for finance jump from 5-8 per cent to 12-15 per cent in the past one year

Buying a pre-owned car on credit has gained traction in the past one year as buyers of such vehicles are finding greater comfort in engaging with organised used car channels that warrant better quality cars and hassle-free paperwork. Better asset quality has also encouraged banks and non-banking financial companies (NBFCs) to join hands with those in the organised used car space.

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First Published: Wed, April 14 2021. 06:10 IST