The Covid pandemic has accelerated demand for new and used cars. As the prices of new cars were on the rise, in spite of supply constraints and long waiting periods, customers turned to the used car market in a big way. Even in this segment, everything was not easy and fast. Instant and paperless finance was very hard to come by.It was to this vacuum that the Chennai-based startup Kuwy Technology Service, an automotive fintech instant lending platform, entered the scene to connect used car dealers and lenders on its platform to accelerate lending.B Ganesh Kumar, CEO and Co-founder of Kuwy Technology explains and gives insights into the challenges in used car finance. He also highlights the gap between the penetration levels of new car loans vis-a-vis used car loans.

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