CARS24 is an Indian multinational online used car marketplace headquartered in Gurgaon, India. It offers a platform for customers to buy and sell used vehicles, and provides services aimed at enhancing transparency and trust in the used car market. The company is considered among the four major organised players in the Indian used car segment.
CARS24 was founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid and Ruchit Agarwal.[3] Initially launched as a platform for selling used cars, the company later expanded into comprehensive services for car buyers, including used car loans, pre-delivery inspection reports, etc.
CARS24[4] primarily deals in buying and selling of used cars, but also provides additional services during the purchase[5] and ownership periods.
Pre-sale services include home test drives in select cities, doorstep pickup/delivery, and warranty plans that span up to 3 years, or 45,000 km. They also offer a 7-day no-questions-asked return policy,[6] enabling buyers to return the car for a full refund if it doesn't suit their needs.
CARS24 employs an AI-powered pricing engine that analyses real-time market data across India. They also offer doorstep inspections, instant payments, and complete paperwork management, including RC transfer. Sellers can complete the entire transaction from their home, often within a single day.
CARS24's NBFC division, which began its operations in 2019, enables used car buyers to acquire vehicles through financing options tailored for used car buyers.
Funding and endorsements
In 2019, the company onboarded Mahendra Singh Dhoni, former captain of the Indian cricket team, as both an investor and brand ambassador.[7] Dhoni's association brought credibility and visibility to the platform, especially in Tier-II and Tier-III cities
In FY2023–24, CARS24 achieved a major operational milestone by selling over 200,000 vehicles,[8] with revenues reaching ₹6,917 crore, a 25% increase over the previous year. Of this, its financial services unit contributed [9]₹300 crore, with strong gross margin growth indicating deepening profitability and product diversification.
CARS24 entered the (unicorn (finance)|unicorn]] club in 2020 after raising $200 million in Series E funding led by DST Global, taking its valuation past $1 billion.[10] By December 2021, its valuation rose to $3.3 billion after securing another $400 million in equity and debt funding.[11] In July 2024, CARS24 received a capital infusion of ₹250 crore from its Singapore-based parent to bolster its lending and technology platforms.
CARS24 operates CARS24 Financial Services (CFSPL), an NBFC entity that has disbursed over ₹4,000 crore in retail auto loans and more than ₹15,000 crore in dealer financing. In early 2025, it launched LOANS24, a platform that now covers a full suite of financial products, including new and used car loans, loan top-ups, loans against vehicles, inventory finance, and even personal credit products such as credit cards[12].
Acquisitions
In April 2025, CARS24 acquired Team-BHP, one of India’s most trusted automotive forums. The acquisition aimed to merge CARS24’s digital capabilities and AI infrastructure with Team-BHP’s vibrant auto enthusiast community, while maintaining its editorial independence[13].
New initiatives
CARS24 Pre-Delivery Inspection (CarTruth)
Launched on October 27, 2024, and branded as "CarTruth," CARS24’s PDI service provides detailed physical inspections before purchase (both for new and used cars), covering engine/transmission, exterior, interior, documentation, and accident history.[14]
Launched on September 6, 2023, CARS24 Challan is an online platform to check and pay traffic challans via vehicle number. Integrated with multiple payment methods (UPI, cards, wallets), it fetches challans across state databases, delivers real-time updates, receipts, and simplifies cross-state payments.
CARS24 RTO Services
An RTO facilitation service within the CARS24 super‑app
Crashfree India is a public-interest non‑profit launched in June 2025 by CARS24 that aims to reduce and eventually eliminate road fatalities in India, with the ambitious target of zero road deaths by 2040.
Subsidiaries
LOANS24
LOANS24 (CARS24 Financial Services Pvt Ltd), was established in 2019 as a wholly owned subsidiary of CARS24 Services Private Limited.[18] The company received its non-deposit accepting NBFC license from the Reserve Bank of India in July 2019. LOANS24 by CARS24 has a good credit rating of BBB+ (stable) from Care Edge, showing it is financially reliable.
The company provides services such as used car loans, loans against cars, top-up loans, personal loans, and credit cards across 50 cities in India.[19]
Geographical expansion
Australia
CARS24 began operations in Australia in September 2021,[20] introducing an online platform for buying used cars. The business follows an asset-light model with full inventory ownership.[21][failed verification] Vehicles undergo a 300-point inspection, receive roadworthy certification, and are refurbished before sale. Customers can complete purchases online, including financing, with home delivery provided.[citation needed]
The company offers a seven-day return policy and a warranty covering mechanical and electrical failures.[22]
United Arab Emirates
CARS24 entered the UAE in mid-2021,[23] its first international market, and operates under the name Global Access Cars Automobile Trading LLC. The service is available across all seven Emirates through a fully online platform. Each car undergoes a 150-point inspection and refurbishment, with customers able to reserve vehicles, request home test drives, and complete financing and registration online.
The company provides a seven-day return option and a six-month or 10,000 km warranty on certified cars, with extended coverage available.[23] Additional services include free insurance, registration, and delivery.
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₹ 5,535 crore (US$650 million) (FY23) [2] 
₹ −468 crore (US$−55 million) (FY23) [2]