CarDekho launches online auto finance marketplace

Partners with leading banks and financing companies like HDFC, ICICI, Au Financiers

CarDekho.com, India’s leading online automobile portal, announces the launch of its online car finance marketplace - finance.cardekho.com. It has partnered with financial institutions such as HDFC Bank, ICICI Bank, IndusInd Bank and Au Financiers for providing pre-approved loans to car buyers. With this move, the company enables its customers to obtain a pre-approved loan before buying a car via leading lenders at the click of a button. The marketplace covers all segment of car buyers and also enables finance for passenger vehicles for commercial use.

CarDekho says that their marketplace offering comes with a number of differentiated consumer friendly features. These include up to 100% financing, faster approval process, plus doorstep document collection. CarDekho will provide this service for no charge to customers.

A CarDekho user can compare and customize various loan offers online besides availing special interest rates, processing fees waivers and upto Rs. 5,000 shopping vouchers during the process of auto loan disbursal.  The beta version for CarDekho’s integrated marketplace was launched with HDFC Bank in August 2015 and received an overwhelming response, with loan applications of over Rs.350 crores from across the country.  

Talking about the launch, Raghuveer Malik, CEO - auto finance and leasing, CarDekho.com, said, “An individual’s ability to get a loan plays an important role in their car buying decision - around 70% of all car buyers opt for loan to finance their purchase. We provide unbiased and exhaustive options customized for users. We help users avail loans in a few clicks and also provide offline support until the loan is disbursed and the car is delivered. We’re positive that ours is a best-in-class service.”

Besides the customer-facing product, the CarDekho auto finance marketplace provides a dashboard for banks to access customer details, check their documents and give feedback on appointments to a sales manager. This B2B tool serves as an effective medium to transmit all the information to sales managers. 

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