The Loan Disbursements for New Cars are Projected to Incline at CAGR of 13% REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The India Car Finance Market includes financing of both new and pre-owned cars. The India Car Finance Market has emerged as one of the fastest growing markets since past few years. The major driving force behind this market has been the total number of cars sold in the country. Although buyers in India prefer a new car over a Second Hand Car, however there has still been a sustained rise in the pre-owned car sales especially after FY’2012. On the other hand, the new car sales have always been on a growing trend but also faced few glitches in terms of slow down of car sales in FY’2014. High population in the country, with approximately 66% of people in the middle income class and a large proportion of people in the young age group has turned the country’s car market into an attractive investment opportunity. Car finances have observed elevation in demand since the middle class prefer to make payments in small monthly instalments instead of submitting the full amount instantly. Moreover, for the upper rich class, it serves as a tax saving incentive hence they choose financing options as the EMI paid serves as the expense for the business. This has resulted in increased finance penetration in the country to over 74% of the car sales for the new cars and 45% for the used cars as of FY’2015. The pre-owned car finance market has emerged as one of the fastest growing market in the previous few years. This industry has been majorly driven by factors such as reduction in average ownership period of cars, higher penetration of banks, higher urban population and higher sales of the used cars in the country. During the review years, the industry has grown at a CAGR rate of 24.1%. Pre-owned car finance industry is segmented into online and offline segments. These include loans which are provided online through internet or offline through direct interaction between customer and the financier. Many of the major players in the offline car financing also have their counterparts in the online car financing segment for example HDFC Bank, ICICI Bank and more. There is a great chain of factors to consider while going for the online or the offline platform. India being a developing country with high youth population and higher broadband penetration, large number of people are dependent on the internet for most of their work. Also, other factors such as interest rate, processing fees and reliability have been considered to opt for either online or offline loans. In the year FY’2010, the online loans for pre-owned cars were observed negligible in comparison to offline loans at around 2% while in FY’2015 this percentage has increased to approximately 7%. Such a trend has been observed since online loan providers have not been very comfortable to provide the loans as there has been no methodology developed to ensure the genuine nature of the vehicle. For more information on the market research report please refer to the below mentioned link: https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/india-car-finance-market-report/679-93.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Post Views: 3 Tags: Growth Drivers of India Car Finance Market, India Car Finance Market Value Chain Analysis, India New Car Finance Market, India New Car Finance Market Introduction, India New Car Finance Market Segmentation, India New Car Finance Market Size, India Pre-owned Car Finance Market Future, India-Pre owned Car Finance Market, major players car finance market, Market Share of Banks and NBFCs in New Car Finance Market, SWOT Analysis of India Car Finance Industry, Trends and Developments in India Car Finance Market