Cars24 Financial Services Private Limited

Recent News, Updates & Announcement

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  CARS24 Financial Services Teams Up with Credgenics to Digitize Collections Process | Technology.

  Embarking on a new chapter in debt management CARS24 Financial Services a modern NBFC specializing in car financing and a wholly-owned subsidiary of CARS24 Indias leading AutoTech company has announced a strategic partnership with Credgenics a pioneering SaaS-based debt collections and resolution tech platform This collaboration underscores CARS24s commitment to streamline the car ownership experience for customers by introducing innovative solutions powered by cutting-edge technology ensuring a hassle-free journey.

  05 Mar 2024 Devdiscourse

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  Thrust Zone.

  In a ground-breaking move towards a more sustainable automobile landscape, CARS24, India's leading autotech company has today announced the launch of its new Vehicle Scrapping Initiative and has become one of the first large scale players in the industry to do so. This initiative is set to transform the way India views car scrapping and offers a comprehensive one stop solution for vehicle owners to scrap their cars, monetise their Certificate of Deposit and simultaneously benefit the environment. In line with the mission of Government of India, CARS24 is all set to educate eligible car owners about vehicle scrapping and simplify the scrapping process for them. With CARS24, a customer can do the entire process within minutes, making it convenient for them to embrace scrapping and its numerous benefits. The company has partnered with Registered Vehicle Scrapping Facilities to ensure that vehicles are dismantled and disposed of in an environmentally responsible manner. To make it a more rewarding experience, by scrapping a car with CARS24 customers can easily avail the best scrap value for their cars ranging from ₹30,000 to up to ₹1 Lakh, depending on the car's scrap value. Additionally, if car owners are planning to purchase a new vehicle, they do not have to pay any registration fee and can utilise the Certificate of Deposit to save up to 25% on road tax, which translates to up to ₹ 50,000 or higher on a brand-new car. CARS24 will enable customers to save up to ₹ 2 lakhs on new cars through this initiative. What adds an interesting twist is that the Certificate of Deposit isn't just a piece of paper—it's a tradable asset! If customers decide not to purchase a new vehicle, they have the option to sell this certificate for a handsome amount, reaching up to ₹ 1 Lakh. For those looking to buy a new car, they will soon have the option to directly purchase CODs from CARS24, unlocking additional financial benefits. CARS24 will enable customers to avail COD benefits with ease. To add more substantial value, it offers to vehicle owners, CARS24's Vehicle Scrapping initiative contributes significantly to the environment. According to industry data, scrapping a single vehicle eliminates emissions equivalent to those produced by 11 new vehicles, resulting in a remarkable annual reduction of 3,300 kilograms of harmful emissions. By scrapping a car with CARS24, customers will also make an eco-friendly choice equivalent to planting 1,650 trees, which helps offset 21 kilograms of emissions for a better ecological impact. This concerted effort reflects CARS24's dedication to creating a cleaner and more sustainable future, one that extends beyond the financial benefits of scrapping old vehicles and actively works towards environmental rejuvenation. Key Benefits to Society and Economy: Emission Reduction: Scrapping vehicles can result in a 15-20% reduction in carbon emissions, as one old vehicle generates emissions equivalent to 11 new cars. Improved Safety: Scrapping old vehicles contributes to better road, passenger, and vehicular safety. Economic Boost: This initiative has the potential to boost auto sector sales and generate employment, along with increasing the availability of low-cost raw materials for the automotive, steel, and electronics industries, thereby contributing significantly to the circular economy. “Our commitment goes beyond a love for cars—it's about making a real impact. Recognizing that many cars on the roads were ready for scrapping, we swiftly launched our seamless Vehicle Scrapping initiative, driven by a sense of urgency. This isn't just about convenience or money; it's a focused journey toward a cleaner, greener future for all. It's a crucial step in addressing environmental challenges and making the process simpler and more rewarding for our customers." says, Vikram Chopra, CEO and Co-Founder, CARS24 Scrap your car in just 4 easy steps Complete a brief questionnaire with precision to obtain an exact quotation tailored to your vehicle. Let our dedicated CARS24 representatives seamlessly guide you through the comprehensive online Vahan process. They will also ensure a hassle-free pickup of your vehicle by RVSF from your location Experience the gratification of receiving your payment, accompanied by an exclusive "Certificate of Deposit," when your vehicle is collected and deposited at RVSF's advanced facility Link to the page : https://www.cars24.com/scrap-cars/ The Vehicle Scrapping Initiative is currently live in Delhi-NCR, however CARS24 is committed to extending the service across the nation, ensuring accessibility to a broader audience..

  01 Dec 2023 Thrust Zone

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  Cars24 scale remains flat in FY23, losses declines 57%.

  30 Oct 2023 Entrackr

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  Nadia Omer takes the helm at airasia MOVE as Chief Executive Officer.

  26 Oct 2023 TechNode

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  Cars24's New R&D Centre in Bengaluru Streamlines Used Car Market in India, Appoints Shobhit Shrivastava as Senior Director of Engineering.

  Cars24 making buying and selling used cars easier in India with new R&D centre in Bengaluru. Shobhit Shrivastava appointed as Senior Director of Engineering to lead innovation and growth. Cars24's Chief Technology Officer excited about Shobhit's addition to the team. Platform expanding globally, creating good brand image..

  08 Oct 2023 News18

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  CARS24 Inaugurates Its 2nd R&D Centre in Karnataka to Boost Autotech Industry; Welcomes Shobhit Shrivastava as Senior Engineering Director.

  05 Oct 2023 India Education