CARS24 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.
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.
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."