The Auto market in India working with more than 35 financers that offers auto financing solutions to the customers who are interested in buying a personal vehicle. Since the Indian Automobile business is one of the most growing market in the world and lots of new auto companies has entered in the field to support the aspirations of the people. Additional, the manufacture of passenger vehicles is predictable to boost further by the year 2012-13.
There is only new companies are stepping into the automobile finance sector, already established financial companies has also realized the importance of auto finance and has started to focus on the loans for cars and other automobile. During 2000s, the auto finance sector was cup of tea of the private banks like Citibank and ruling over the market. However, many public sector banks have also made their presence in the auto finance division and the names of top companies in the auto finance segment in India includes State Bank of India, ICICI Bank, HDFC Bank, Bajaj Auto Finance Limited, Citibank, Bank of Baroda, Punjab National Bank and Kotak Mahindra Prime Limited.
State Bank of India is one of the admired banks in India and considered as leader in the auto finance sector of India. Freshly, their auto finance trick has concerned a large of clients and this was accomplished by this financial institution by reducing the rates of interest for brand new cars. Their standing and long repayment alternative offered by them has permitted them to reach this altitude in the auto finance sector in India.
ICICI Bank dominated the auto finance sector in India before 2008, eventhough the bank has lost its first position in the auto finance sector, it is still one among the top auto finance companies in India and they are making every effort to regain their first position in the auto finance sector. For this purpose, they have put their car loans on fast track and they have also doubled their auto loan disbursement amount to nearly 1500 crore.
HDFC Bank: It is another popular bank among Indians customers and they have expanded one among the top 10 ranking in the Auto finance sector in India by following numerous business ideas. One such idea that worked for them is the lessening of interest on car loans offered by them.
Anjali Singhis an author for Freeads Classifieds. Freeads Classifieds gives a one-stop solution for all your free ads. The team of free ads Classifieds in India helps you find the right and legal track to the land of your dreams worldwide.
Autosoft, Inc., a leading national dealer solutions provider, announced today that it now offers convenient access to credit report and compliance services within its web-based FLEX F&I application. This feature is a result of a partnership between Autosoft and 700Credit, LLC, the industry leader in providing credit and compliance products and services exclusively to the automotive industry.
This partnership helps dealers to quickly complete the entire sales process without leaving Autosofts FLEX F&I application and in most cases, while a customer sits across the desk. Sales personnel can pull credit and comply with mandatory state and federal requirements using 700Credits Credit Reports product and the included compliance safeguard features.
At Autosoft, were always looking for ways to make our customers jobs easier, Autosofts Senior Vice President of Business Development Christopher Morris said of the new integration. Convenience and cost-savings are important to our customers, so were happy to offer a fairly priced service that saves time and steps for our dealerships. More importantly, 700Credit provides our FLEX F&I users with a simple, efficient and effective means for ensuring compliance with federal and state laws that many dealerships may not even realize they are required to follow.
Kenneth Hill, managing director of 700Credit, said of this new offering, “The integration with Autosoft’s FLEX F&I application gives dealerships complete, instant access to our credit reporting and compliance solutions. In today’s market, the ability to save time and not have to worry about the legal ramifications of various regulations brings dealers peace of mind while increasing profitability.”