Pune: Cars24, one of India's leading autotech companies, on Wednesday launched its new vehicle scrapping initiative aimed at offering a one-stop solution for customers to scrap their cars and monetize their Certificate of Deposit.
Cars24 has partnered with registered vehicle scrapping facilities across India.
“It's a crucial step in addressing environmental challenges and making the process simpler and more rewarding for our customers,” said Vikram Chopra, CEO and Co-Founder at Cars24.
At present, the vehicle scrapping initiative is on in Delhi-NCR.
The company said the entire process is simple and seamless and can be completed within minutes.
The company claims to offer the best scrap value for cars ranging from Rs.30,000 to Rs 1 lakh, depending on the car’s scrap value.
If car owners are planning to purchase a new vehicle, they do not have to pay any registration fee.
With the Certificate of Deposit, owners can save up to 25 per cent on road tax, which amounts to up to Rs 50,000 or higher on a new car.
Cars24 claims that customers can save up to Rs 2 lakh on new cars through this initiative.
Besides this, if the owner decides not to purchase a new vehicle, he/she can sell the Certificate of Deposit for a decent amount of up to Rs 1 lakh.
Cars24 will offer owners the option to directly purchase Certificate of Deposits on their platform.
