Want to buy pre-owned vehicles? These startups can help you find a perfect used car

Buying a car is an important decision because you would like to use it for at least a few years without forking out massive amounts on a new one.

The price difference between used and new cars can be more attractive when it comes to bigger cars. Photo: Pixabay

Money! Or rather, the lack of it, is usually the biggest reason why one buys used items. Simply stated, this is because the person concerned could not afford the original item in the first place. This pattern has been in existence for decades. For instance, if a new Maruti Suzuki Vitara Brezza is unaffordable, then the person needs to wait for a few years for the price to drop or just buy it from someone who already owns it and is selling at a depreciated amount. The latter definitely makes it cheaper for anyone. Buying a car is an important decision because you wouldn’t buy a car every year and would like to use it for at least a few years. In this situation, a pre-owned vehicle satisfies one of the most important aspirations of a person. The price difference between used and new cars can be more attractive to bigger cars. This means that you can buy an ‘as good as new’ car at a much lower price and use it for longer.

The price difference between used and new cars can be more attractive when it comes to bigger cars. This means that you can buy an ‘as good as new’ car at a much lower price and use it for a long period. Also, buyers should know that they can also get a car loan in this case too and thereby lessen their immediate burden further.

Here's a list of startups who can help you find your perfect car.

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1. Droom: Droom is India’s first mobile marketplace to buy and sell new and used automobiles. Droom is the 3rd largest E-commerce company in India in terms of GMV and the largest online auto marketplace for buying and selling new and used automobiles with over 80% market share of the automobile transactions online. It has four marketplace formats i.e. B2C, C2C, C2B and B2B, and three pricing formats - Fixed Price, Best Offer and Auction. The platform offers a wide range of categories from bicycle to plane and all automobile services such as warranty, RSA, insurance and auto loan.

Droom has in-built tech and data science tools to create the entire eco-system around used automobiles, including OBV (pricing engine), Eco (1,000+ points vehicle inspection), History (200 million vehicle history records), Discovery (dozens of pre-buying tools) and Credit (India’s first and only marketplace for used vehicles’ loans). The company is currently generating $1.2 Billion in annualized GMV and growing at a rate of 150% Y/Y. Droom has a presence in 830+ cities across India (India’s largest hyper-local marketplace), 300K+ auto dealers (largest auto dealer platform in World), 55 Million+ monthly visitors, nearly 12 Million+ app downloads and 6.5 Million+ Facebook followers.

Here's how Droom Car's loan works:

It is simple to apply for loan through Droom Credit.

Step 1: Let’s start – Fill in your basic details and register quickly with simple and secure registration process, just enter your basic details and you are ready to apply for the loan. Isn’t it simple!

Step 2: Congratulations you are eligible for loan Yeah! That’s right based on credit profile and details entered, we check your loan eligibility in real time. Our advance algorithms securely process the data provided by you. We are laser-fast!

Step 3: It’s Paperless – Simply upload required documents for loan disbursal Let’s go green. No more compilation of files and hard copy of other documents Simply upload your documents and you are done. It’s is as simple as 1.2.3..!

Step 4: Instant loan approvals – Check EMI’s payable and choose from the list of lenders Scroll to check the most preferred lender for you. We have listed various lenders with all the details. You can also check your EMI payable for the loan.

Step 5: Wow! Your Loan Application is processed – After you choose the lender, we send your pre-approved loan application to the lender for disbursal of the money. Just wait for a few days get your loan amount.

Step 6: Go Get your Dream! – Hurray! It’s done! The seller will start receiving money directly from the lender.

Droom Credit uses advance technology and complex algorithms along with our financing partners (banks/NFBs) to do a series of checks on your application before the funds are available to you.

Droom Credit works in a fast-paperless environment and we normally process your loan application in 30 seconds and a few hours for the bank/NBFC to finally verify your documents, if needed. After that it depends on bank how long it takes to transfer the money directly to the seller/merchant.

2- Cars24: CARS24 makes selling a car an easy, fair and quick experience offering an efficient and reliable way to car owners to sell their cars at the best price. The company commits that an individual can sell his/her car in just 30 minutes after a certified test by their experts. They perform an online bid process among various car dealers which picks the highest bidder after 30 minutes. Listing online leads to more time consumption, multiple calls, random meetings, price haggling etc. However, CARS24 makes selling a car an easy, fair and quick experience.

For helping citizens avail cars24 asks them to share requirement details. They then as per your requirement and documents help you find best loan offers. Post approval, disbursement is carried.

3. CarDekho: CarDekho.com is India's leading car search venture that helps users buy cars that are right for them. Its website and app carry rich automotive content such as expert reviews, detailed specs and prices, comparisons as well as videos and pictures of all car brands and models available in India. The portal has a Feel The Car tool that gives 360-degree interior/exterior views with sounds of the car and explanations of features with videos; search and comparison by make, model, price, features; and live offers and promotions in all cities.

4. Carwale: CarWale has always striven to serve car buyers and owners in the most comprehensive and convenient way possible. They provide a platform where car buyers and owners can research, buy, sell and come together to discuss and talk about their cars. The portal make informed car buying and ownership decisions with unbiased information on cars through expert reviews, owner reviews, detailed specifications and comparisons.

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