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Launch · Commerce & Consumer Brands

Cars24 details 30-day return policy guidelines

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Cars24 logo
Date
Company
Cars24
What it does
Used car trading platform
Kind
Launch
Based in
Gurgaon
Founded
2015
Sector
Commerce & Consumer Brands

What they do

Cars24 operates an online marketplace for buying and selling pre-owned vehicles, offering financing, inspection, and related automotive services

What happened

The platform detailed its 30-day return policy, allowing buyers to return inventory vehicles within 30 days or 999 kilometers under specific conditions

Why it matters

The policy outlines tiered financial deductions based on registration certificate transfer status, mileage, and processing fees to account for resale value loss

The details

  • Pre-owned car platform Cars24 explained the eligibility and deduction structure of its 30-day return policy for inventory-listed vehicles.
  • Buyers can initiate a return within 30 days or 999 kilometers, whichever occurs first, provided the vehicle remains undamaged and without modifications.
  • The return process requires submitting a request through the app, followed by customer support confirmation and a vehicle re-inspection at a designated hub.
  • Deductions apply upon return, ranging from ₹10,000 to ₹20,000 for pending registration certificate transfers within specific day ranges.
  • If ownership registration papers are officially updated to the purchaser, the applicable fee reaches 15% of the vehicle cost or ₹40,000, whichever amounts to more.
  • Financed purchases incur additional charges such as loan foreclosure fees, interest loss, and value-added service fulfilment costs.
  • Buyers must provide signed delivery checklists and daily odometer photographs to resolve potential disputes regarding the return window limits.

The bigger picture

  • Even thorough vehicle inspections cannot reveal every daily driving comfort issue or family commute constraint until lived with for several days.
  • Returned vehicles lose market value as they accumulate ownership records, making standardized deductions necessary to offset platform depreciation.
  • Clear documentation requirements protect both the buyer and the platform by establishing objective mileage and condition evidence during the trial period.

About the business

  • Cars24 operates an auto-tech platform facilitating the purchase and sale of used cars and bikes across global markets.
  • The company provides vehicle inspection reports, pre-delivery checks, warranty options, and roadside assistance services.
  • Additional financial offerings include used car loans, loans against cars, personal loans, and credit score checks through an internal RBI-registered NBFC [non-banking financial company].
  • Digital utility services include online traffic challan [fine] payments, FASTag recharges, vehicle insurance, and car scrapping facilities.
  • The platform maintains an inventory-backed stock exchange model alongside peer-to-peer listings to serve automotive buyers and sellers.
  • Operations span multiple countries including India, the United Arab Emirates, and Australia, accumulating millions of registered users.

The deal

Type
other

Founders

  • Vikram Chopra, Founder
  • Gajendra Jangid, Founder
  • Mehul Agrawal, Founder
  • Ruchit Agarwal, Founder

About Cars24

Product
An online platform for used-car buying, selling, and related lending services.
Customers
Consumers and dealers transacting in used cars.
How it makes money
It earns from vehicle sales, marketplace transactions, and financing-related services.
What sets it apart
Uses AI to improve operating efficiency and support growth.
Operations
Operates across multiple countries and runs auction and retail businesses in India.

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