Under the new Vehicle Scrapping Initiative, Cars24 announces that customers can obtain a scrap value ranging from ₹30,000 to up to ₹1 lakh, depending on the vehicle’s scrap value. The company claims that the entire process will be completed in minutes and in a simplified manner.
Benefits of the Initiative
Customers scrapping their vehicle will receive several benefits, including waived registration fees, while the Certificate of Deposit will help save up to 25 percent on road tax. Together, these benefits will enable customers to save up to ₹2 lakh on purchasing a new car.
Vikram Chopra, CEO, and Co-Founder of Cars24, expressed his thoughts on the new initiative. He emphasized the company’s commitment to making a real impact by addressing environmental challenges and creating a cleaner, greener future for all. Chopra stressed that the initiative is not just about convenience or money; it’s a crucial step towards a better future.
Certificate of Deposit
In addition to the benefits, the Certificate of Deposit will also allow customers to sell it to a different customer, should they choose not to purchase a new vehicle. According to Cars24, owners can earn up to ₹1 lakh by selling their CoD.
The company also plans to sell CoDs on its online platform soon. The vehicle scrapping initiative is currently available in Delhi-NCR and will soon expand to other parts of the country.
Cars24’s Vehicle Scrapping Initiative aims to make the process of scrapping vehicles easier, while also providing monetary benefits and environmental impact. With the added benefits of waived fees and savings on road tax, the initiative offers a compelling reason for car owners to participate and contribute to a greener future.