Cars24 has launched Loans24 to expand its lending platform to offer personal loans for broader financial needs rather than restricting it to cars sold on its platform.

Since 2019, CARS24 Financial Services Private Limited (CFSPL), the financial arm of India’s leading used car start-up, has enabled 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," the company said.

80% of all new cars sold in India are financed whereas only about 20% of used cars are financed.

The company's lending arm was earlier launched it to help customers finance their car purchases through Cars24. “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," the company said.

Speaking at the launch of Loans24, Ruchit Agarwal, Co-Founder & CFO, CARS24 said, "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."

Loans24 goes beyond car loans. The start-up said it will also assist customers track and improve their credit scores while offering personal loans for wider financial needs. “Now, these financial solutions are available to anyone, not just car buyers, making credit more accessible than ever.”

Loans24

Cars24 launches Loans24; expands lending platform beyond cars