What started as a way to help customers finance their car purchases from CARS24 has now evolved into a comprehensive lending platform. CARS24 Financial Services Private Limited (CFSPL), the financial arm of India's leading Autotech company, has launched LOANS24, a digital-first, hassle-free credit platform designed for everyone, car buyers, car owners, and beyond.
Since 2019, CFSPL is becoming a trusted name in auto financing, enabling over ₹4,000 crore in car loans for customers purchasing through CARS24. But financing needs go beyond just car purchases from CARS24. Customers need instant, flexible, and transparent credit options—whether for buying a car, refinancing an existing one, or securing additional funds. That's where LOANS24 steps in.
Customers want a simpler, smarter way to borrow, whether for buying a car, refinancing one, or taking a top up loan or any car loan, LOANS24 is the answer.
A Smarter, Simpler Way to Access Credit
Traditional financing can be slow, confusing, and full of roadblocks. LOANS24 changes that by putting customers first.
● Instant Approvals – Fully digital and valuation-free for quick, hassle-free approvals
● Flexibility – Finance up to 100% of the on-road price for purchases or 200% for top-ups, with terms up to 6 years
● Affordability – Used Car Loans starting at 10.99% interest, ensuring transparency and fairness
"Getting a car should feel exciting, not exhausting. But for too long, car loans have felt like a necessarily difficult process-slow, complicated, and designed to test patience. If personal loans can be instant, why should car loans still feel like a maze of paperwork and waiting? That's what we're fixing with LOANS24. No hoops to jump through, no hidden surprises, just a loan that works for you, not against you. Because whether you already own a car or dream of one, access to credit should never be the thing that holds you back." Ruchit Agarwal, Co-Founder & CFO, CARS24
72 percent of loans taken by Indians in metro cities
At CFSPL, we've helped over 80,000 customers buy their dream cars and facilitated over ₹15,000 crore in working capital loans to dealers, fueling growth across the industry. But our vision goes beyond just car purchases. We now offer loans against cars and top-ups, ensuring that financing is available to everyone—not just CARS24 customers. Whether you need to unlock cash from your existing car or secure additional funds, our fully digital process ensures quick, seamless access to credit.
Our reach continues to grow, with Maharashtra, Karnataka, Gujarat, Telangana, and Uttar Pradesh leading loan disbursements. While urban centers drive the majority of demand, smaller cities are quickly emerging as key players. More customers from these cities are now financing their cars with LOANS24, signaling a shift in the financial landscape. Whether it's a salaried professional in Mumbai, a self-employed entrepreneur in Ahmedabad, or a first-time car buyer in Lucknow, the demand for accessible credit is rapidly expanding beyond metros.
The trend is also evident in Tier-1 and Tier-2 cities. While Tier-1 cities still account for 72% of total loan volumes, Tier-2 cities have steadily increased their share to 26%, reflecting a surge in demand outside traditional hubs. Even Tier-3 cities, though smaller in volume, are gradually adopting digital-first financing solutions. This shift demonstrates how technology is breaking down geographic barriers and making financing accessible to all, regardless of location.
In addition to the geographic spread, the increasing participation of women in borrowing is a transformative trend. Women now account for 20% of all CFSPL loans, up from 11% in 2021, marking a steady rise in financial independence. As more women take charge of their financial decisions, CFSPL is ensuring they have easy access to fair and transparent credit, breaking traditional barriers in auto financing.
By solving for both accessibility and affordability, LOANS24 aims to ensure that anyone, regardless of geography, background, or financial profile—can secure the credit they need with ease. Our goal is to make borrowing seamless, fair, and truly inclusive for all.
Beyond car loans, LOANS24 will also help the customers track and improve their credit scores while offering personal loans for broader financial needs. Now, these financial solutions are available to anyone, not just car buyers, making credit more accessible than ever.
