Used cars are a major area of concern for people who possess them and also for people who want to buy them. You are quite reluctant in selling a used card and of course there are a lot of thoughts that come while buying a second hand one.
Although; things have changed quite a lot. The traditional mechanisms are not followed where there is an unending wait in order to get the desired value for your used asset. Today; we have start ups that cater to this segment through their application driven tools. Surprisingly; these start ups are receiving funds from prominent sources for their expansion.
The buzz today is about the used car start up Pum Pum Pum that bags a raise of Rs. 5.5 crore. The details with respect to the same are given in the article.
MORE ABOUT FUNDING
The start up has bagged funds of Rs. 5.5 crore in its pre series A funding that is led by Inflection Point Ventures. The other participants were Lets Venture & Agility Ventures.
This amount will be utilized to get into the business categorically through disrupting technologies & unbeatable brand.
The founder ;Tarun Lawadia has a clear cut say regarding the future of the company by stating that the car lease segment would be the most lucrative one in the coming years. The focus of the company will now be to cater to this without any hassles or hurdles. Expansion is also on the cards as the major metro & non-metro cities can be the next targets.
He also added that “To take this niche category to newer heights, we are consistently expanding our reach along with tech disruption and high decibel consumer awareness… We are confident that the capital infusion will help us in category disruption and strengthen our product development, marketing and expansion plans,
DETAILS ABOUT PUM PUM PUM
The company basically deals in the business of leasing the already owned cars. They give a range according to which you can choose your specific ride depending upon the lease amount.
The range starts from Rs. 15k and is till Rs. 50 k. They offer fair prices with great tax benefits so that the complex process of lease gets more flexible. Other features offered are :
- Proper warranty Cover
- Zero Down Payment
- Insurance Coverage
- Regular Maintenance
The ground reality is that the car leasing business holds quite less portion of the entire automobile sector but that’s not all. It is by far the most lucrative & fastest growing too as people have realized that EMI’s can be more expensive than the lease payments. The GST has proven a boon in this case and hence it has a promising future ahead which will provide dual benefits to both owners & users at large.