One of the most sought after questions we hear is – How does CARS24 offer the best price for your used car? There have been various accounts of customers and journalists trying to pen down the functioning of CARS24 as an organization. We think it is high time that we brought out a comprehensive report into the functioning of one of India’s fastest-growing used car businesses.
CARS24 is now spread across 11 cities with 50+ branches and has a track record of completing one lakh + car auctions.
The process at CARS24 kicks off with an interested seller opting for an online evaluation and booking an appointment either through its website or the toll-free number — 1800-11-22-33 for a time slot at any branch that is convenient to the seller. Note, the online evaluation results are just indicative, based on an in-house algorithm (on the basis of the past transactions at CARS24 for the same make/model) and the actual prices depend on our scientific inspection of the car and the live-online auction that follows thereafter.
Once you arrive at one of the branches, you are greeted by a warm retail associate and a well-furnished office. The customer is briefed about the process and the timeline, followed by the retail associate checking whether all the necessary documents to sell a car are available or not. This is followed by a car expert taking the car keys off your hands while you wait inside the air-conditioned office, sipping hot coffee or tea. The process which follows can be divided into three categories:-
The scientific car inspection consists of a pre-set list of checks, enabling the car expert to find the exact condition, wear & tear and the possible refurbishment cost for the same.
Unlike other used car businesses, where the mechanic or the buyer inspects the car basis personal experience and values it, at CARS24 the inspection is done by employing various scientific gadgets, which ensures that the inspection report is objective and hard to critique.
The CARS24 inspection report is held sacrosanct by the thousand of authorized buyers across the country, who eventually end up participating in CARS24’s live-online auction process.
The gadgets used in the inspection process leading to generate an unbiased inspection report are:-
This device is used to measure body paint thickness and uniformity on pre-owned cars, thereby revealing repainted spots, identifying hidden damages and exposing undisclosed accidents. This helps the evaluator in objectively preparing the inspection report which ultimately results in the best price for your car during the auction process.
The tyre gauge instrument helps to exactly determine the thread left on any specific tyre. This helps in determining the possible refurbishment cost of any given car, with complete accuracy.
This device is plugged into the OBD port and gives one access to the various subsystems of a vehicle. The device provides real-time data of the engine’s performance.
It also allows the evaluator to identify and calculate the possible remedial costs of the malfunctions (if any). For reference, a detailed report generated by an OBD device is given below.
A vehicle’s inspection report includes varied parameters from these categories:
The car expert thoroughly inspects these areas and clicks detailed pictures of the same. The car is also taken out for a short spin to weed out the malfunctioning bits and the same is duly noted in the inspection report.
At the end of this process, an approximate refurbishment cost based on the prices of spare parts and labour costs associated is calculated. This, along with the detailed pictures and scores in each category completes a CARS24 inspection report.
Also to be noted is that your vehicle registration details are not shared with anyone in this process, which ensures maximum privacy for the customers. Even the car’s number plate is masked by a custom CARS24 plate while taking the ph0tographs.
Once the inspection report is ready, it is shared with the customer making it a very transparent process! The report is uploaded online, to kick off the live online auction in which thousands of authorized buyers participate through the CARS24 Bussiness Partner Application.
The presence of such a large number of buyers ensures high demand for a specific car in a matter of minutes.
Unlike online classifieds, where the seller does various listings and encounters multiple calls but still fails to get a fair price for his car eventually. At CARS24, all that is required is one visit to finish the deal. The process can be witnessed live by the customers, adding to the sense of trust in the whole process. And, did we add that there is no commission deducted from the customers.
At the end of the specific time, the highest bid is offered to the customer without any delay.
If a customer is happy with the highest offer received, he/she can immediately choose to hand over the vehicle. In this case, he/she is carefully explained the documents which are needed to be duly signed before the payment process is set into motion. If you choose to ponder over the offer received, CARS24 provides you with the option of selling the car within 24 hours. Until then, the offer received remains valid.
Once the set paperwork is signed and the relevant documents handed over, the payment process is initiated and the same is credited to the seller’s account instantly. CARS24 takes all the liability of the cars sold to them and provides you free RC transfer. Further, it sends you the details of the new owner of your car within 90 days.
This is how CARS24 as a model has the potential to revolutionize the used car selling industry. If you ask us what are the three USP(s) that we as an organization offer, they would be – Best Price, Instant Payment, and Free RC Transfer. Towards the end, all we would want to ask is – Have you tried CARS24 yet?
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