<p>Online platform to buy and sell pre-owned vehicles CARS24 on Tuesday said it has launched a scheme offering customers loan against their existing car to aid owners who are facing liquidity crunch but do not wish to sell their vehicles.</p>.<p>Citing an in-house research, CARS24 said the number of customers selling cars due to liquidity crunch has doubled as compared to pre-corona times. It will now give loans to those customers who do not wish to sell their cars otherwise, the company said in a statement.</p>.<p>"This will help customers to retain the ownership of the asset and at the same time get funds against it for their personal needs,” CARS24 said.</p>.<p>Currently, this service is available in Delhi-NCR, but it can be availed by the customers in Bangalore and Hyderabad by next month - August.</p>.<p>The company has aggressive plans to launch this offer in other metros by the end of the ongoing fiscal, it said.</p>.<p>CARS24 Vice President Vandita Kaul said: "We have witnessed a lot of cases where people have showed interest in selling their cars to fulfil their financial needs. Knowing that owning a car is a becoming a necessity these days, we came up with an initiative so that our customers can secure funds and retain their assets at the same time."</p>.<p>She further said, the response, so far, has been overwhelming and the company intends to extend our services across metros in next six months.</p>.<p>“Till now, we have disbursed loans worth Rs 35 lakh to our customers within this vertical and hope to strengthen this portfolio exponentially from here," she said.</p>.<p>CARS24 said, as a standard procedure, the financial and loan value of cars will be estimated after undergoing an inspection process. </p>
<p>Online platform to buy and sell pre-owned vehicles CARS24 on Tuesday said it has launched a scheme offering customers loan against their existing car to aid owners who are facing liquidity crunch but do not wish to sell their vehicles.</p>.<p>Citing an in-house research, CARS24 said the number of customers selling cars due to liquidity crunch has doubled as compared to pre-corona times. It will now give loans to those customers who do not wish to sell their cars otherwise, the company said in a statement.</p>.<p>"This will help customers to retain the ownership of the asset and at the same time get funds against it for their personal needs,” CARS24 said.</p>.<p>Currently, this service is available in Delhi-NCR, but it can be availed by the customers in Bangalore and Hyderabad by next month - August.</p>.<p>The company has aggressive plans to launch this offer in other metros by the end of the ongoing fiscal, it said.</p>.<p>CARS24 Vice President Vandita Kaul said: "We have witnessed a lot of cases where people have showed interest in selling their cars to fulfil their financial needs. Knowing that owning a car is a becoming a necessity these days, we came up with an initiative so that our customers can secure funds and retain their assets at the same time."</p>.<p>She further said, the response, so far, has been overwhelming and the company intends to extend our services across metros in next six months.</p>.<p>“Till now, we have disbursed loans worth Rs 35 lakh to our customers within this vertical and hope to strengthen this portfolio exponentially from here," she said.</p>.<p>CARS24 said, as a standard procedure, the financial and loan value of cars will be estimated after undergoing an inspection process. </p>