Used-car loans grow faster than new-car finance in India
- Used-car loans grew at a 26.2% five-year CAGRCompound Annual Growth Rate from June 2021 to June 2026, faster than other vehicle loans.
- The borrower base for used-car loans expanded 2.4 times, as more buyers shifted from cash to formal finance.
- In Q1 FY27, 75% of used-car loan borrowers were new to the product, showing wider adoption of such loans.
Source: business-standard.com
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