’s unique used car loans tool clocks record Rs 100 Cr GMV

CarDekho leading auto portal facilitated over Rs 100 cr disbursals in retail Used Car Loans

New Delhi, Feb 15, 2017:, India’s leading auto portal, facilitated over Rs 100 cr disbursals in retail Used Car Loans. The development comes just months after the company announced the launch of its Digital Loan Platform for used car dealers.’s unique used car loans tool clocks record Rs 100 Cr GMV

Loan penetration on used cars has traditionally been low in India due to complications involved in loan discovery and loan processing for used car buyers. Today less than 40,000 private used car vehicles are sold on finance in India every month, which indicates only 15% finance penetration on all used cars sold in the country. This is in sharp contrast to many developed markets. As per Experian Automotive report on auto financing in US, finance penetration on used car sales was 54% in Q3 2016.

However, with digital innovation from players like and policies like demonetisation, the share of cash buyers would eventually reduce, making way for used car purchase on EMI in long run. has built deep tech integrations with several leading banks including HDFC Bank, Kotak Mahindra Prime, Axis Bank, Tata Capital, Mahindra Finance and others. Its entire backend operations are run on’s proprietary tech systems to allow for efficient processing of loan applications at scale. Loan journey for a used car buyer starts at dealership using the company’s app-based tool for used car dealers who have inspected cars. Using this tool, partner dealers are able to provide instant EMI quotations from multiple banks and submit loan application by uploading digital documents like KYC, car’s Registration Certificate, etc.

Speaking on the milestone, Namit Jain, business head - used car loans, said, “It’s a promising sign that we have been able to reach 100cr disbursals on our platform, while still operating on a pilot mode. We aim to provide our used car buyers with easy access to loan ready inventory at dealership, ability to shop used cars with an EMI price tag, convenience and more choice. We will substantially increase used car loan penetration through our partner dealers and remove all paint points in loan process.”

According to our internal data, nearly 40% of used car loan applicants either had no credit history or had non prime or below credit ratings. “Interestingly, this is not very different from a developed market like US where an average New Car Loan borrower would be a prime customer with credit score >700, while a used car borrower would be a non-prime consumer with credit score of approx 650 (on Experian Scale).  We are committed to enable loan for each loanable used car buyer by adding to the loan coverage factor on our platform in partnership with financiers across the customer segments, including local and regional players,” says the Namit Jain. runs one of India’s largest used car classifieds platform – helping customers discover a used car of their choice and enabling sellers to reach out to more buyers. Trustmark certification and warranty allow consumers to purchase car with complete peace of mind. Through its digital used car loan platform, has been able to strengthen the used car buyer ecosystem by enabling a customer to discover and buy a trusted used car on easy EMI.

About is a flagship portal of Girnar Software Pvt. Ltd. founded in March 2008. is today India’s most popular and leading auto portal catering to the aspiring buyers, the proud owners, the auto enthusiasts and die-hard fans and dealers of cars across the country. The company acquired,, Buying IQ and Drishya360s. The auto portals together draw close to 33 million visits per month with 22 million unique visitors per month. Girnar Software is a focused IT Company working on offshore products and outsourced software development. The company concluded its Series B funding in Jan 2015, picking up Rs. 300+ crores with two Hong Kong based investors Hillhouse and Tybourne besides existing investor Sequoia. Google Capital invested in the company in March 2016. It also bagged funding from Mr Ratan Tata and one of the largest banks HDFC. GirnarSoft is now valued at Rs. 2500+ crores. The group’s vision is to be a multi-billion dollar company by 2021 with global footprint.