[wheelguy]

Cars24 had so far been dealing in pre-owned car buying but it has now stepped into selling of used cars as well with additional services like buyback guarantee, car condition verification, and consumer financing.

Cars24, a tech platform that grew substantially in the used car market, had so far been into buying used cars from customers. But now in its latest announcement, Cars24 has now begun sales of used cars with a stock of thousands of cars ready for sales in over 30 cities across India. To make the used car buying and selling process more transparent, Cars24 has introduced industry-first services like buyback guarantee, car condition verification, and consumer financing.

Cars24's new business model involves a thorough car verification process that undergoes over 150 inspection points. The service also lets buyers have access to a complete health report of the car. The entire car buying process is assisted by Cars24 which helps buyers identify the right choice basis their requirements and takes care of all paperwork including RC transfer. If not satisfied, the company has also introduced a buyback guarantee feature for the buyers.

“Car buying experience has always been a worrisome affair due to lack of trust, transparency and right set of information. We were getting huge demand from people looking to buy pre-owned cars,” Vikram Chopra, Co-founder and CEO, Cars24 said.

Source: Financial Express

[KL01toKA03]

It would be interesting to know more about the buyback guarantee. If the car is already transferred to the new buyer, how will they cover the loss in value arising from the buyback?

[AutoSphere]

Pardon my ignorance, but was happening to all the pre-owned cars that were being bought by CARS24 over the last few years?

[Funny]

Originally Posted by AutoSphere

Pardon my ignorance, but was happening to all the pre-owned cars that were being bought by CARS24 over the last few years?

Cars24 were an online auction portal for Used car dealers throughout the country. They only facilitated the sale of your car to the highest bidding dealer and were not directly engaged in the used car business.
Now they are entering the used car business wherein they will be the dealer who buys and sells your car to other customers looking to buy used cars.

[adi.mariner]

Just checked the Cars24 website for buying used cars. Quite a nice analysis of the car's condition with respect to Exteriors, Interiors, Engine, Suspension, etc. However the valuation they had given when I was selling my car was quite less compared to the used car dealer's valuation.

[pseudo_coder]

Originally Posted by Funny

Cars24 were an online auction portal for Used car dealers throughout the country. They only facilitated the sale of your car to the highest bidding dealer and were not directly engaged in the used car business.
Now they are entering the used car business wherein they will be the dealer who buys and sells your car to other customers looking to buy used cars.

That's not how they advertised. They used to ask people to walk to their outlet and get paid in cash in 1 hour.

[cool_dube]

Originally Posted by pseudo_coder

That's not how they advertised. They used to ask people to walk to their outlet and get paid in cash in 1 hour.

Funny is right - they put the car's profile on an online auction portal after a quick assessment, where it is bid for by institutions like car driving schools, used car dealers, etc. They inform you about the best bid within an hour or two and once you agree, they process the sale by transferring the bid amount (minus their service charges) to your bank a/c. I have sold a car to them 2 yrs back - the process was very smooth and the price was quite good. In fact, they even sent me a soft copy of the transferred RC over email, after a month or so.

[VWAllstar]

My experience with Cars24 has not been impressive. They advertise to give the best rate for a used car but in reality they give the lowest. They also have charges for RC and ownership transfer which is collected as a fee.

Would recommend to sell the car with the dealer of your new car or to look at local dealers for return of cash.

[KiloAlpha]

Related thread, where members have discussed individual experiences with Cars24:

https://www.team-bhp.com/forum/india...ars24-com.html (Experience: Selling my car to Cars24.com)

[varsin]

Okay, so I have had one great and one good experience with Cars24.

My first experience (2017) with them (Dwarka, Delhi) was extremely good. I sold my 2011 Honda City (SMT) in just one visit, getting slightly higher price for my car than what was quoted by the neighbourhood dealer. The money was transferred instantly and all the paper work was done to my satisfaction.

In 2019, I sold my Hyundai Creta (1.6 SX) at the same outlet, but it took multiple visits as the transaction was over INR 10 lakhs. I didn't have a great experience (like the first time), but I got a great value for my car.

Now, over the last week, I have been trying to contact them for buying a used car, but I have run into a wall. Despite several calls from Cars24 and assurances, I haven't got the correct information about the shortlisted car.

I am still waiting for their RM to call and take me to the owner for a test drive and final negotiations. Guess these are early days and the company is still ironing out these issues.

[srikanthmadhava]

I had contacted them for Buying a used car. Went through the listed cars and made an offer through their website. A representative from cars24 called me and explained the process.
They would connect the buyer with the seller (who has posted his car in cars24 site similar to an ad, but after inspection from cars24) and would charge a commission for the same. Quoted me 17k commission for a 13.5lakh car and 15k for 16lakh car(even I felt it should be the other way around). I never reached the stage of visiting a seller since we could not agree on a price. I believe cars24 representative will accompany the buyer to the seller location, but not sure on that. As per the representative, prices are quoted from seller side and cars24 does not have control on that, other than advising sellers on a possible sale price.
Postive is that their report on the car is extensive. Commission looked acceptable to me if I get a good car at a reasonable price. I felt the 13.5 lakh 35K run hexa 2017 XTA was acceptable higher end pricing, but the 16 lakh 12K run 2017 XMA was very much overpriced. Both were not ready to negotiate.

[manu0504]

Has anyone successfully bought a car from cars24? They have a great database of used cars at good prices but I haven't been able to connect with the seller even after weeks of showing interest. I got a couple of calls from their yard managers saying they have 200 cars and asked me to visit the yard but that's not what I wanted. I'd prefer to see only the shortlisted cars, meet the sellers and then buy a car. I don't mind whatever commission cars24 charges. They do have that option on paper but I wonder if it's implemented in reality. There is a nice thread here selling experiences on cars24. It'd be great if folks who have managed to buy through cars24 share theirs too, either here, on the other thread or a new thread dedicated for that purple. With Coronavirus lot of people like me who are looking to buy affordable used cars and it'd be of great help to them!

[RM Motorsports]

Cars24 is India’s latest unicorn as it raises $200 million. A "unicorn" refers to a privately-owned start-up firm that is now valued at more than $1bn.

Cars24 has seen a big rise in business during the pandemic as people look to alternatives to public transport such as pre-owned cars.

https://theprint.in/economy/gurgaon-...tartup/551099/

[GandalfTheGrey]

Originally Posted by manu0504

Has anyone successfully bought a car from cars24?

A late reply; we "almost" bought a used car from Cars24. I registered in Cars24 website for a particular Figo, but didn't get a call back even after a couple of days. There's a Cars24 office in my locality, so I directly dropped by their office, and was promptly attended by a sales guy. I informed the sales guy the car I'm interested in, and requested further details. As mentioned by others above, each price range has a certain amount associated to be paid to Cars24. The cost for our price bracket came close to 15k. The car was quoted somewhere around 5.3L, and I was assured by the sales guy that we'll bargain and bring it down to 4.9L. I gave a go ahead, so he set a conference call with the seller. We agreed on a mutual time, and visited the seller to inspect the car. Unfortunately, we weren't able to inspect the car, though we went to the seller's place and saw the car in person, a story for some other time. I was positive that the car was good, as it was maintained well, and the buyer himself was a top brass at Ford. Unfortunately, our stint stopped here.

If things went ahead, I guess this is how it would've moved.
- I would've paid the token advance to buyer once I'm convinced, so that Cars24 would block the car.
- I would've paid the full amount to the buyer.
- I would pay the charge to Cars24.
- Cars24 would do all the paper work and deliver me the car, along with warranty documents.

Overall I had a good experience with the exec, and the entire process. I heard the sales execs are pretty overworked, because of shortage of manpower. So if you have a Cars24 office nearby, I suggest visiting them in person for a quicker response.

Cheers!

[JithinR]

From the past few days I can no longer see individual owner cars listed on the cars24 website. It seems to show only the instant available cars (I guess these are the ones that cars24 has purchased from owners).

Does anyone know if their business model has changed?