Published on June 25, 2019
Want to buy a car but have a limited amount to invest, opt for a used car this summer! With the availability of many options, easy finance and an increase in the spending capacity of people, the sales of four-wheelers have taken a huge jump in the last decade. But, due to the rise in new car prices, surged taxes, increase in fuel rates, higher depreciation, etc, buyers are shifting towards a second hand or used car options. 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. A pre-owned vehicle satisfies one of the most important family aspirations. We see India evolving similarly,” Though affordability is a big reason. These small cars cost almost half as much the as new ones. 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.
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.
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.