CarTrade Tech Partners with IDFC First Bank to Provide Financing Solutions for Used Cars, Auto News, ET Auto

Multi-channel car buying and selling platform CarTrade Tech Ltd announced on Tuesday that it has entered into an alliance with IDFC First Bank to offer simple and smart financing for used cars. Under the partnership, IDFC First Bank will become the preferred financier for customers purchasing used vehicles from CarWale abSure dealerships with personalized offers tailored to their needs, the company said in a statement.

CarWale abSure is CarTrade Tech’s used car platform.

“Our financing offers with IDFC will ensure a hassle-free experience backed by trust and reliability. It is definitely an honor to partner with IDFC First as it will bring liquidity to the used car segment,” said the CEO of CarTrade Tech – Consumer Business Banwari Lal. Sharma said.

Commenting on the partnership, Rishi Mishra, Head of IDFC First Business – Car Loans, said, “The combination offers great synergies for both partners and we look forward to this association with CarTrade Tech.”

IDFC First Bank’s scorecard-based loan sanctioning and end-to-end digitized and automated loan onboarding journey will empower CarTrade/CarWale abSure dealers. It will also provide a seamless loan processing experience for customers, Mishra added.

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