Droom Credit will get you car and bike loans for used vehicles in just 30 seconds

Droom Credit will be India’s first marketplace for auto loan for used automobiles.

Getting a loan for used automobiles in India was a time consuming formality and an endless list of paperwork which could take forever and often got rejected. It is with this in mind that Droom, India’s exclusive online automobile transactional marketplace has now launched Droom Credit which is the country’s first to offer auto loans for used vehicles.

Droom Credit guarantees a loan approval in a matter of 30 seconds in 95% transactions with quick paperless procedures, automated work flow management and instant loans from lenders to borrowers.

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As a part of the loan scheme, Droom India has BFSIs consisting of commercial banks, NBFCs and other financial institutions such as Tata Capital, Faircent, Kotak and HDFC. Droom Credit comes in with Store Manager, a lender’s dashboard, ratings and reviews which allow lenders to set terms of credit and manage credit risk profiles and also uses PAN verification and other such validation techniques to assess credit evaluation.

Sandeep Aggarwal, founder and CEO, Droom, confirms that with this new system of instant loan facility, Droom Credit will initially cater to automobile loans for both used and new vehicles and will change the way of acquiring instant loans in the future.

Droom Credit offers both buyers and borrowers the facility to apply for loans at anytime and via any device not restricted to office hours but round the clock on a 24×7 basis.