Finance for used cars and bikes across India. Indian auto exchange

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Auto Finance

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Highly competitive sector in the modern automobile industry
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Traditionally done by DSAs of finance companies
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Auto Dealers became active through Dealer DSA channel from 2002 onwards
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Finance commission is a major source of revenue for the dealers
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In house promoted by dealers help customers to choose finance partners based on their profile
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Public Sector Banks also got active after 2005
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DSAs became weak due to the tough competition from dealers and banks
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Couple of private sector banks like HDFC Bank started promoting auto finance through their branches
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Around 10 players are very active now in the private sector
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Major players are HDFC Bank, ICICI Bank, Sundaram Finance, Kotak Mahindra, IndusInd Bank, Axis Bank, Mahindra Finance, Magma Finance & Cholamandalam Finance
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Major players in the public sector are SBI, SBT, Punjab National Bank & few Gramin Banks
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Select finance companies became active in used car business from 2010 onwards.
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Valuation of used car by approved agency is very important in this
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Valuation report of Approved dealers are accepted by finance companies for funding to customers
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Interest rates are coming down in the last one year due to the RBI policy – Major boost to auto finance sector and benefit to customers
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Consistency in business during tough market condition by finance company is a major determining factor for building confidence among the channel partners and customers

Major Players In The Private Sector

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