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View Poll Results: How has your Cars24 experience been?
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Old 22nd April 2017, 21:20   #61
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Default Re: Experience: Selling my car to Cars24.com

My experience with Cars24.

Looking to sell (after lateral upgrade to X3), my Camry '07, Auto, 52K in pristine shape with new set of tyres and battery and complete repaint showed IBB expected at around 6.5 to 7.25L, which is reasonable. Cars website too indicated a similar range though marginally less. I then booked an appointment and went to their show room and despite the appointment it took all of 2 and half hours for entire process completion. The valuator was very professional and the entire process of assessment with OBD print out etc, was quite smooth. He even praised the engine, up keep , service record and impeccable condition of the car, leading me to expect an even higher than their website quote. I nearly fell from the chair when he showed the final bids, which ranged between 3.25L to 3.75L!
He gave a long list of reasons including petrol version, low mileage in city , etc. I walked away even as he promised 5K, if I could sell at a higher price. But seeing earlier experiences here, would not even try to lay claim to it!
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Old 24th April 2017, 11:22   #62
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Default Re: Experience: Selling my car to Cars24.com

I checked their website. What do they do with all the cars they buy? Whom do they resell it to ? I did not find any links to "buy cars" from their website. They need to sell it somewhere for a higher price to get some profits right ?
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Old 24th April 2017, 21:53   #63
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Default Re: Experience: Selling my car to Cars24.com

Quote:
Originally Posted by girimajiananth View Post
I checked their website. What do they do with all the cars they buy? Whom do they resell it to ? I did not find any links to "buy cars" from their website. They need to sell it somewhere for a higher price to get some profits right ?
They do not buy the car out right. What their business model does is connect to tens even hundreds of 'channel partners' who are the actual buyers who pay a monthly subscription fee to Cars 24 and who bid for your car within minutes after it is up loaded by Cars 24. In approximately 30 minutes cars 24 will give the seller the info of lowest to highest bids received by them. If seller is satisfied with the price he can give the original RC and other specified items like duplicate key etc, upon which Cars24 will transfer online by IMPS the settled amount instantly.

I guess it works very well if one is very short of time and has to finish the transaction quickly and in one stroke in exchange for accepting a lesser than anticipated price. No other way will work faster. How ever if one has the time and willing to wait for the best deal this falls very short.

This set me to think if in some way ANY individual as opposed to subscribed channel partners were to be able to place a bid, the seller would undoubtedly realise a higher price and hence there would be many more transactions for Cars24 who are presently selling around 300 cars in their 11 outlets in Bangalore.
To build scale they need to open up the bids to any credible and interested buyer.
The hitch is there may be many non serious buyers who may never actually complete the transaction.

The positive aspect is the professional manner in which Valuation is done. Though the report is shown to the seller they don't give a print out, even for a price.
I told them there could be another opportunity to add a stream of income by monetising the report. Give the report for a fee like 1,000, and there may be many takers. The seller can simply use this to other third party sellers as other wise he will end up going to multiple dealers and will have the inspection, valuation and test drive repeated again and again, duplicating the effort.
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Old 15th May 2017, 11:02   #64
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Default Re: Experience: Selling my car to Cars24.com

I had an amazing experience with Cars24.

I have been wanting to sell my mom's 2012 MS Ertiga VDi, 151000 kms done. Had taken appointments with Cars24 in the past, but something always came up and I never went.

But the Ertiga had to go soon. Renault Baner (Pune) guy offered me Rs. 4.31L for my car, and Rs. 10k exchange benefit, totalling Rs. 4.41L.

Fair price I still say, as I am not interested in the hassles of selling to end user. Have done that in the past, and honestly thanks to the way the RTO works, you never feel that the process is gonna end. Its time consuming, tiring, sweaty, and quite unpleasant. Im okay with a lesser price, not okay with transferring ownership and its related insecurities.

So, I booked an appointment for an hour later at Cars24 Baner (Pune), and reached there 5 minutes before time. The car was quite dirty thanks to the rains.

They have a proper office, with waiting area, individual cabins, tea-coffee etc. They also offered water on arrival, something thats so simple but makes a huge difference. Everyone seemed to be busy with their own things, and no one is just standing around and talking. Thats nice, and gives a serious vibe to the place.

The evaluator walked up to me, and seated me in his cabin. He gave me an introduction of how the business model works, and since it has been posted earlier, I will skip writing this part. I handed over the insurance, original RC of the car, and also told him that Im eager to get this deal done with them as I loved how easy it seems.

Test drive done, they evaluated the rest of the car. Their checks are quite intensive, and almost all aspects of the car are thoroughly checked. Being a well maintained car, there were not too many negatives. But I like the transparent process where they tell you basically everything they observed about the car. You can discuss the depth (or lack of) of the problem, but they're good and they do their job well.

The car went for online for auction.

30 minutes later, I was taken back to the cabin and shown the auction results. Im being honest, I had high hopes from Cars24. Also because Rs. 4.41L was lower than my expectation.

Lowest Bid - Rs. 4,21,000/-
2nd Highest Bid - Rs. 4,62,000/-
I smiled
Highest Bid - Rs. 4,80,500/-

I was super happy. They not only beat Renault, but also my guesstimate of Rs. 4,75,000/-.

I immediately agreed to sell the car. Formalities followed later and the process was completed within 1 hour.

There is not one single negative I observed with Cars24. Guys were professional and transparent, you get treated well, car is handled and evaluated by knowledgable guys, no post-sales hassles, no dealing with individual customers (being an Ertiga, I would be dealing with a varied bunch of buyers), and even though it takes close to 2-2.5 hours, thats the only time you're actually spending on selling your car.

By personal experience, I can vouch for the fact that one spends much more time and resources to sell cars in the open market (only exception being selling within family and friends).

I opted for the instant payment mode, in which I will have the entire money transferred to my account as soon as I handover the car to them. They charge Rs. 1000/- for this. If you want the full amount, their normal transfer process takes 2-3 working days.

They will soon open their auction membership to the general public also. Right now they sell only to used car dealer community/ fleet owners.

I had a wonderful car selling experience, and would definitely go back to them, and recommend anyone to do so.

Thanks for reading.
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Old 15th May 2017, 11:29   #65
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Default Re: Experience: Selling my car to Cars24.com

Quote:
Originally Posted by satya180 View Post

I opted for the instant payment mode, in which I will have the entire money transferred to my account as soon as I handover the car to them. They charge Rs. 1000/- for this. If you want the full amount, their normal transfer process takes 2-3 working days.
Good to know about this.
I did not understand the difference between these 2 modes. Instant payment is when you give the car and in the other one you have time to handover is it?
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Old 15th May 2017, 12:19   #66
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Default Re: Experience: Selling my car to Cars24.com

Quote:
Originally Posted by rajesh1868 View Post
Good to know about this.
I did not understand the difference between these 2 modes. Instant payment is when you give the car and in the other one you have time to handover is it?
Instant - As soon as the car hand-over is complete, Rs. 1000 deducted.
Regular - Within 2-3 days of car hand-over

This is what I understood during the process.
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Old 23rd May 2017, 14:38   #67
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Default Re: Experience: Selling my car to Cars24.com

Quote:
Originally Posted by satya180 View Post
Fair price I still say, as I am not interested in the hassles of selling to end user. Have done that in the past, and honestly thanks to the way the RTO works, you never feel that the process is gonna end. Its time consuming, tiring, sweaty, and quite unpleasant. Im okay with a lesser price, not okay with transferring ownership and its related insecurities.
And this is precisely the reason why I did not want to sell the car on my own. On a separate note, RTO really needs to be make car selling process easier. The current process is a serious pain in all the wrong places.

Coming back to Cars24. Sold my Getz GLX 2007 car in less than 1.5 hrs. From the time I walked in to the time I walked out. This was at Cars24 Baner, Pune.

It was an excellent experience. The office is clean and has separate small cabins for a private discussion with the Cars24 personnel. They explain the process in a transparent manner. And most importantly they are not pushing you to sell. Even after the I got my final quote, he explained to me that the quote is valid for 24 hrs and I can actually go and discuss with my family & friends and confirm to him within 24 hrs. Of course, I had no such intentions in mind, but appreciated the fact they are not pushing you to close the deal. He even explained to me the reason for this. As their revenue stream is the subscription fees that the dealers pay, they are not worried about the actual sale of the car. This means that the evaluator at Cars24 is probably not under severe pressure to meet sales target. Also, they know that since this is bid (auction) driven strategy, the chances are high that you will get the best possible price. So it works very well indeed. The evaluator explains the process well and makes the entire selling process smooth.

I opted for the full amount payment. I got my payment credited within 2 days.

I certainly got more than what the exchange offers I had on new cars. But for me the most important aspect of this deal was the ease of the whole transaction and not the money.
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Old 23rd May 2017, 15:28   #68
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Default Re: Experience: Selling my car to Cars24.com

Cars24 claims that they will give you the best price in the market without doubt due to the auction process. This certainly did not hold true in my case.

Cars24 is a great platform for someone who is looking to sell their car in a jiffy and wants a hassle free experience. Their approach & business model is good, the representative is well mannered and they come as a relavation in this dirty & messy used car market in India.

But my experience was not something great because -
  • They quoted very low for my car, much below the market value of the car.
  • I was clearly not satisfied and I informed them that I need time to decide as I will be looking at other options. The Cars24 representative kept calling me after this & informed me the following day that the quote is valid only for 24 hours. This was not informed to me before! I told them that is not an issue but I am not willing to dispose the car at the abysmally low price which they offered.
  • Meanwhile, I had also advertised the car on Cartrade.com and a dealer visited my house. Within 15 minutes and a short test drive, he offered me a much better deal, which was close to what I was expecting.
If you have time and patience, I feel the traditional method of selling the car yourself is still the more rewarding one.
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Old 29th May 2017, 17:42   #69
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Default Re: Experience: Selling my car to Cars24.com

Thanks to SS-Traveller for the suggestion! A public poll has been added to this thread. If you've used Cars24's services, please vote .
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Old 19th June 2017, 17:46   #70
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Default Re: Experience: Selling my car to Cars24.com

Here is my story with CARS24 (June 17th, 2017)

I am in the market to sell my Hyundai Accent GVS petrol and I wanted to try CARS24. I never knew that I needed an appointment. Anyways, I dropped in to their Banashankari branch. I enter the branch and there was no one in the sight for the first few seconds and later a guy walks towards me and asks how can I help? I say, I am here to sell my car.

CARS24: Do you have an appointment?
Me: No, I didn't know that I need to have an appointment.
CARS24: What car you want to sell?
Me: Hyundai Accent GVS Petrol 1.5 (few other details)
CARS24: Checks something in his laptop (obviously their portal)
CARS24: Still checking
CARS24: Do you have the RC book?
Me: Here it is
CARS24: (I am not capturing the off topic details as he asked my native and mother tongue.)
CARS24: By now, he has checked whatever he has to and says, Sir your car will fetch Rs. 40k and may be Rs. 60k maximum
Me: why?
CARS24: Sir, you have used the car for 14 years and no one wants to by a 14 year old car with such a high mileage.
Me: By now, I understood that I am wasting my time and started act like I was deeply saddened.
CARS24: I can put your car on auction but the dealer, me and you are wasting time as I already know that your car will not fetch more than what I have already quoted.
CARS24: Hyundai accent parts are not available in the market, it's expensive to maintain, people don't need sedan and they need hatchback blah blah blah
Me: Okay, let me think about it.
CARS24: Sir, you know from March 2017 RTO have stopped renewing FC for 15 year old cars.
Me: For the second time,
Me: Are you sure?
CARS24: Yes Sir
Me: By now, I realized this guy needs to be in US selling used cars.
Me: Okay, I will get back to you if I think I will sell the car for whatever you quoted
CARS24: Okay sir

I walked out of the outlet and was laughing to myself. I also know that there is another used car seller very next to CARS24. I went to them and said, I want to sell my car (although the owner was not present, one of their staff walked to the car and inspected).

In the meantime, I called my contact in RTO and confirmed that there was no notice or new act that has been implemented to stop renewing FC for 15 year old cars. So, what CARS24 said in terms of RTO not renewing 15 year old car was biggest lie.

Used car dealer: Sir, how much are you expecting?
Me: XXXXXXX
Used car dealer: Sir, might not be possible but here is what I think can be given XXXXXXX.
Me: Okay, take my number and call me when your boss is around.
Used car dealer: Sure sir (he collected my number)

Now, the used car dealer quoted 60% more than what CARS24 offered. I still consider selling my car on my own or I might exchange the car with a new one.

There might be some happy customers here and there but I am sure not everyone are happy with the quote they are receiving.
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