The Indian auto market has grown exceptionally since the introduction of the legendary Maruti 800. As the auto market is growing the number of auto finance companies in India is also increased. These companies offer affordable auto financing solutions. With the help of Auto Finance Companies, India has become one of the fastest-growing automobile markets in the world.
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10 Best Auto Finance Companies in India
Here, we will explore some Best Auto Finance Companies in India
1. Rupyy
Rupyy is Gurgaon-based one of the largest lending fintech platforms for those who want to buy automobiles. It is especially distinguished in the field of vehicle financing.
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It was founded by Namit Jain in 2016 with the support of CarDekho Group, The platform has successfully spread a remarkable metamorphosis in the landscape of auto loans, vehicle retail, customer experience, and other lending institutions. Through its cutting-edge technology, it collaborates with 30 esteemed banks and NBFCs.
2. Cars24
Cars24 is a Gurugram-based leading AutoTech company involved in buying, selling, and financing pre-owned cars in India, Australia, Thailand, and UAE. It was founded by Mehul Agrawal, Ruchit Agarwal, and Vikram Chopra in 2015.
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Utilizing an intelligent AI Pricing Engine, and conducting 140 quality checks, It also ensures the smooth selling and buying of pre-owned vehicles. It is registered with the Reserve Bank of India which makes borrowing money easier.
3. Kuwy
Chennai-based Kuwy is an Automotive Fintech Platform, which helps increase loan approvals and digital car sales by automating the lending process.
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It connects customers & vehicles to dealers, lenders, manufacturers, and other platforms through strategic industry partnerships and its products. They ensure that consumers get the best loans and vehicles, through an automated process. It is available in more than 70 locations all over India.
4. Revfin
New Delhi-based RevFin is founded by Sameer Aggarwal. It is one of the leading financial technology (FinTech) platforms whose mission is to improve financial inclusion in India.
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It provides the best loan to its customers with the help of advanced technology and non-traditional data analysis. They expand their financial options by collaborating with Best Way, MLR Auto SKS Trading (Aarzoo), Energy Electric Vehicles (Udaan), and Sun Mobility. Sun Mobility is a battery-swapping company serving Piaggio EVs.
5. Magma
Magma is a non-banking entity specially designed for financial services and general insurance. Their rapid growth is attributed in part to their vision which is “Investing in the smallest dream”.
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The platform works as a private car finance company where that provides a highly flexible approach to documentation and loan eligibility criteria. The platform offers loans on New car loans and Used Car loans also.
6. Mahindra Finance
Mahindra Finance believes in a tagline that is “empowering potential, transforming lives”; reflecting its commitment to making a positive impact through its services as an automotive financial services company.
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It provides multiple loans such as cover car Loans, two-wheeler loans commercial vehicle loans, agricultural equipment loans, and more. The platform believes in using its finance business as an opportunity to help the local community and fulfill their dreams.
7. Sundaram Finance
Founded in 1998, Sundaram Finance emphasizes its core values as dedicated customer service, fair business practices, and the implementation of efficient, safe, and trusted financial policies. It is promoted and partnered with a TVS group.
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It is a finance banking company where that provides a wide range of services such as Commercial vehicle loans, equipment finance, farm equipment loans, construction, and many more. It is one of the top choices for enterprises among the leading financial services companies.
8. Tata Capital
Tata Capital is a non-banking financial company, which is one of the highly diversified capital services companies. The platform provides a wide range of credit-based services.
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It provides personalized car loans for every type of car, like SUVs, crossovers, MUVs, and more. There are several reasons why the organization is the preferred choice for financing your car loan.