Multi-channel automobile buying and selling platform, CarTrade Tech Ltd on Monday said it has entered into a strategic alliance with Cholamandalam Investment and Finance Co Ltd to offer easy and smart financing for used cars.
Under the partnership, Cholamandalam Investment and Finance (Chola) will become the preferred financier for customers purchasing used vehicles from CarWale abSure’s dealers with customised offerings to suit their need, the company said in a statement.
CarWale abSure is the used car platform of CarTrade Tech.
“This partnership between CarWale abSure and Chola is extremely beneficial to both of our customer bases because the main goal is to provide seamless financing for used cars,” said Banwari Lal Sharma, CEO of CarTrade Tech – Consumer Business.
Given Chola’s legacy in the space, he added, “We are certain that together we will be able to alleviate the long and paperwork-intensive purchase cycle in the country… We want to make automobile buying affordable and attainable across geographies in the country.” Cholamandalam Investment and Finance executive director Ravindra Kundu said, “Together, we aim to offer used vehicle buyers a never-before experience through customised finance packages that would come with speedy, convenient and transparent processes.” PTI RKL HVA
