CarWale abSure has announced a strategic partnership with Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of Murugappa Group, to offer easy and smart financing for used cars.

As part of the agreement, Chola will be the preferred financier for customers purchasing the used vehicles from CarWale abSure’s dealers. Chola will customise its products and offerings to suit the needs of these customers. This collaboration between Chola and CarWale abSure will make mobility accessible to the middle-class Indian. It will make automobile purchases flexible and reliable. Furthermore, it will propel the growth of the used car market which is expected to grow at a CAGR of at least 11 per cent over the next five years.

“We are happy to be partnering with CarWale abSure. Their culture of innovation and excellence, which reflects in their offerings, will bring added value to our customers. This alliance is also in line with our continuous endeavour in enabling our customers to ‘Enter a Better Life’. We are committed to building lasting, loyal relationships with customers and partners by consistently delivering excellent value for both,' said Ravindra Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited.

'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. Given Chola’s legacy in the space, we are certain that together we will be able to alleviate the long and paperwork-intensive purchase cycle in the country,' said Banwari Lal Sharma, CEO – Consumer Business, CarTrade Tech Limited.