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– Sale of used cars to soar further in the country as used car buyers now have
access to seamless financing while fulfilling the dreams of millions of Indians to own a high-quality car

December 30, 2021:

CARS24, India's leading e-commerce platform for pre-owned vehicles has
collaborated with Bajaj Finance Ltd., to lift the veil from used car financing and facilitate a quick,
frictionless and streamlined shopping experience.
This move follows a Series G funding round announced in December 2021 that raised $400M
for the used cars e-commerce player – CARS24. While the consumer demand for pre-owned
vehicles is skyrocketing, the consumer financing penetration in the Indian used cars industry
stands at only ~15%. Realizing the key role financing plays when investing in a car, CARS24
and Bajaj Finance Ltd., are enabling consumers by improving their financial flexibility and
providing greater accessibility of owning a car.

Ruchit Agarwal, Co-founder & CFO, CARS24 said,

“CARS24 is poised to rewrite the industry
rules. We are on a mission to fulfil the dream of more Indians to own a car by focusing on
delivering a fully seamless financing solution to our consumers. In this process, we are sure our
partnership with Bajaj Finance Ltd. will prove to be a perfect product-market fit. CARS24, along
with BFL, is putting the consumer first when it comes to financing used car purchases- all
combined with ease of use, highest quality customer experience and transferring control back to
the consumer.”

Commenting on this strategic partnership, Anup Saha, Dy. CEO Bajaj Finance Ltd.,

said, “Providing easy and accessible finance solutions is at the core of Bajaj Finance. This
synergic partnership promotes the idea of finance for used cars to a larger audience. We
believe, there is huge potential in the used car segment and the right financial solutions will only
help customers make the right decision in exploring this option. Customers can now expect a
completely seamless buying experience, coupled with quick approvals, minimal documentation
and other value-added services & offers.”
CARS24 Financial Services Pvt Ltd, a wholly-owned subsidiary of CARS24 Services Private
Limited, offers car lending to used car buyers making lending simpler, safer, faster, and more
accessible. This mutually beneficial partnership will lead to increased penetration in the used
cars industry and enable consumers to further enjoy CARS24’s hassle-free customer
experience with the financial solutions of Bajaj Finance Ltd.

About CARS24

Founded in 2015, CARS24 is the leading global e-commerce platform for pre-owned vehicles
with a robust presence in India, the Middle East, Australia and Southeast Asia. With a consumer-first approach, CARS24’s mission is to transform the used car industry by taking the entire
journey of searching, buying, selling, and financing online. Leveraging the latest technology
advances, CARS24 has set up multiple state-of-the-art Mega Refurbishment Labs; creating new
industry benchmarks for high quality used cars. For regular updates on CARS24, follow:
www.linkedin.com/company/cars24

About Bajaj Finance Limited

Bajaj Finance Limited, the lending arm of Bajaj Finserv, is one of the most diversified NBFCs in
the Indian market, catering to more than 50 million customers across the country.
Headquartered in Pune, the company's product offering includes Consumer Durable Loans,
Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small
Business Loans, Wallet, Co-branded Credit Cards, Two-wheeler and Three-wheeler Loans,
Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes
Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited
prides itself on holding the highest credit rating of AAA/Stable for long term borrowing, A1+ for
short-term borrowing, and FAAA/Stable for FD program. It has also been credited for Long
term issuer credit rating of BB+/Stable and short-term rating of B by S&P Global Ratings for
ECB. To know more, please visit www.bajajfinserv.in