CarTrade Tech’s CarWale abSure has entered into a strategic partnership with IDFC FIRST Bank to offer customers financing options to purchase used vehicles. The agreement makes IDFC FIRST Bank one of the preferred financiers for customers purchasing used vehicles from CarWale abSure’s dealers.
Additionally, the bank will also provide customised products and offerings to suit the needs of customers, a release issued by the company said.
Banwari Lal Sharma, CEO – Consumer Business, CarTrade Tech, said, “We want to make personal automobile the new reality of middle class India and given IDFC's long standing legacy, we are sure that together we will be able to aid our customers in this journey and make it a memorable one for them.”
Rishi Mishra, Business Head – Vehicle Loans, IDFC FIRST said, “IDFC FIRST Bank’s scorecard-based loan sanctioning and end-to-end digitised and automated loan onboarding journey will empower CarTrade/ CarWale abSure dealers.”
Earlier, the pre-owned cars platform had also entered into a strategic partnership with Cholamandalam Investment and Finance Company (Chola), to offer financing options for used cars.