What is the Used Car Finance Market?
The used car finance market covers lending products — auto loans, hire purchase, and lease finance — extended to purchasers of pre-owned vehicles. Key metrics include loan disbursements (INR/USD crore), loan-to-value ratios, tenor, and non-performing asset ratios. The market includes banks, NBFCs, and captive finance arms of used car platforms.
Market Size & Outlook
India's used car finance market was valued at approximately INR 1.2–1.5 lakh crore in FY2024 and is growing at 15–20% CAGR, driven by organised used car platform growth, improved vehicle history data, and NBFC product innovation.
Key Growth Drivers
Growth in organised used car retail (Cars24, Spinny, OLX Autos), improving credit bureau coverage for used vehicle transactions, and NBFC appetite for higher-yield auto assets.
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