Finance Terms and Conditions | Car Finance - CarWale

Finance Terms and Conditions:

  • 1.
    By filling this finance form on any of CarTrade Tech Limited’s (hereinafter referred as “CarTrade”) websites such as CarTrade.com, Carwale.com, Bikewale.com and all other websites of CarTrade’s subsidiaries, you hereby authorise CarTrade to obtain and share all details related to you to third parties, including service providers, financial institutions, credit bureaus, telecommunication companies, statutory bodies, etc. for availing the products and/or services of CarTrade & CarTrade’s finance partners.
  • These terms and conditions may be read in conjunction with our website’s Privacy Policy. However, these specific terms and conditions governing the use of our Finance Form will supersede the Privacy Policy, wherever in conflict.
  • 2.
    By filling the form:
    • a. You confirm that all the particulars and information provided by you in this application are true, correct, complete and up-to-date in all respects.
    • b. You agree and authorise CarTrade & CarTrade’s finance partners to contact you and communicate with you over emails, telephonic calls or SMS on the mobile number mentioned in the application, or through any other modes of communication mode (herein after refer as “Communication Mode”) to verify the details provided by you in this application or to process this application.
    • c. You confirm that you would like to know via Communication Mode, offers and promotion schemes relating to various products/services offered by CarTrade & CarTrade’s finance partners, from time to time.
    • d.You further agree and confirm that laws in relation to the unsolicited communication referred in the Do Not Call/ Do Not Disturb Registry (the DNC/ DND Registry) as laid down by the Telecom Regulatory Authority of India will not be applicable for such communication/calls/ SMS received from CarTrade & CarTrade’s finance partners.
    • e.You authorize CarTrade & CarTrade’s finance partners to exchange and share all information and details, related to you with third parties, including service providers, financial institutions, credit bureaus, telecommunication companies, statutory bodies, etc., for customer verification, personalization of products or services, credit rating, data enrichment, marketing or promotion of services, relating to CarTrade & CarTrade’s finance partners’s products or that of their associates and affiliates or for enforcement of your obligations and agree that CarTrade & CarTrade’s finance partners are not liable for using/sharing of the information as stated above.
    • f.You understand and agree that pursuant to this application, you will be required to submit documents to the satisfaction of CarTrade’s finance partners and will have to accept the loan terms and conditions as prescribed by CarTrade’s finance partners in relation to products and/or service applied by you.
    • g.You understand and acknowledge that CarTrade’s finance partners shall have the absolute discretion, without assigning any reason, to reject your application and that CarTrade & CarTrade’s finance partners shall not be responsible/liable in any manner whatsoever for such rejection.
    • h.You understand and acknowledge that even if CarTrade’s finance partners have approved your application online, they shall have the absolute discretion, without assigning any reason, to reserve the right to reject your application offline and that CarTrade & CarTrade’s finance partners shall not be responsible/liable in any manner whatsoever for such rejection.
    • i.You understand and acknowledge that even if CarTrade’s finance partners have rejected your application online, they shall have the absolute discretion, without assigning any reason, to approve your application offline and that CarTrade & CarTrade’s finance partners shall not be responsible/liable in any manner whatsoever.
    • j.You understand and acknowledge that your online approved loan amount can be changed offline. CarTrade’s finance partners shall have the absolute discretion, without assigning any reason, to reserve the right to change the eligible loan amount and that CarTrade & CarTrade’s finance partners shall not be responsible/liable in any manner whatsoever for such change in eligible loan amount.
    • k.You understand and acknowledge that if there is any impact on your credit rating due to the use of our finance tool, CarTrade & CarTrade’s finance partners shall not be responsible/liable in any manner whatsoever for such an impact on the credit score.
    • l.You confirm that all the particulars filled in the application form by you are true, correct, complete and up to date in all respects and you are not hiding any material information.
    • m.You agree that funding amount and tenure will vary from vehicle to vehicle.
    • n.You agree that funding amount is subject to the LTV of the vehicle the customer/borrower chooses.
    • o.You have agreed/consented that CarTrade & CarTrade’s finance partners have the right to retain all the information pertaining to you including the photographs and documents submitted by you with the Loan application and will not return the same to you.
    • p.You understand that this finance tool is provided on best effort basis and endeavours to give you an accurate eligibility decision and/or pre-approval amount. However, CarTrade & CarTrade’s finance partners will not be liable for such any inaccuracy in the eligibility decision and/or the pre-approved amounts.
    • q.You understand that this finance tool is provided on best effort basis and endeavours to give you an accurate equated monthly instalment (EMI). However, CarTrade & CarTrade’s finance partners will not be liable for such any inaccuracy in the EMI amount.
    • r.
      You understand that this finance tool is provided on best effort basis and endeavours to give you the best possible offer/EMI and there is a possibility of channel partners/brokers/dealers/bank/agents giving you a better offer.
    • s.
      You agree that you or your relatives or friends or anyone on behalf of you cannot sue/ file a complaint against the Site at any point of time under any law. Notwithstanding, if any Customer or his relatives or his friends or anyone on behalf of customer sue/file a complaint against the Site, in such case the liability of the Site including its associated/subsidiary/ holding companies, will be limited to INR 5,000/- only.
  • These terms and conditions will also apply if a special scheme is offered to you by CarTrade & CarTrade’s finance partners. The special scheme offered by CarTrade’s finance partners could be only for customers visiting CarTrade’s websites. For such a case you understand that the above terms and conditions mentioned will also be applicable.
  • 3.
    Security
    • a. We use several processes to safeguard your information, to maintain our data security and to prevent any unauthorized access to your information. For this, we have deployed different physical, electronic and business processes. The safeguards we use are tailored towards to type and sensitivity of the information that we collect, process and transmit, as well as the present technological knowledge and progress.
    • b. We have deployed several generally accepted industry standards, such as firewalls, encryption, software development processes, traffic monitors, automated tools, and others to protect any information residing with us or being transmitted to us.
    • c. Any third party service providers we use for processing payments, if any, are validated as compliant with the payment card industry standard (PCI compliant service providers).
    • d.Whilst we deploy our security measures and processes with utmost diligence, we do not assume any liability or responsibility for disclosure of your information due to any reason, such as unauthorized third-party access, transmission errors or others, and you agree to disclaim us from any such liability.7. For any queries, complaints or inquiries about the way we use or process the information provided by you or about these terms and conditions, you may email our Grievance Officer or write to us at the following address.
    • Grievance Officer:
      Mr Akshay Shankar
      Email: privacy@carwale.com

      CarTrade Tech Limited
      12th Floor,Vishwaroop IT Park,
      S Pranavanandji Marg,
      Sector 30A, Vashi,
      Navi Mumbai, Maharashtra 400705

Experian Terms and Conditions:

CONSENT IN RELATION TO ACCESS TO CREDIT INFORMATION THROUGH EXPERIAN

  • This End User Agreement (the “Agreement”) is made between you (the “User” or “You”) and CarTrade Tech Limited, a public limited company having its registered office at 12th Floor Vishwaroop IT Park, Sector 30A, Vashi, Navi Mumbai 400705 (“Car Trade – CarTrade Tech Limited”, “Us” or “We”, which term shall include its successors and permitted assigns). The User and Car Trade – CarTrade Tech Limited shall be collectively referred to as the “Parties” and individually as a “Party”.
  • You hereby consent to CarTrade – CarTrade Tech Limited being appointed as your authorised representative to receive your Credit Information on an ongoing basis until the purpose of CarTrade internally evaluating the Credit Information as well as sharing the Credit Information with CarTrade’s lending partners who are Credit Institutions under the CICRA Act, personalized offers and products(“End Use Purpose”) is satisfied or expiry of 6 months from date the consent is collected; whichever is earlier.
  • BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE EXPERIAN CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS “CREDIT INFORMATION”). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND CAR TRADE–CARTRADE TECH LIMITED BY USING EXPERIAN TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN.
  • Terms and Conditions:

    Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

    • Car Trade – CarTrade Tech Limited shall access your Credit Information as your authorized representative and Car Trade – CarTrade Tech Limited shall use the Credit Information for limited End Use Purpose consisting of and in relation to the services proposed to be availed by you from Car Trade – CarTrade Tech Limited. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein and in furtherance to applicable law including the CICRA.
    • The Parties agree to protect and keep confidential the Credit Information both online and offline.
    • The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased immediately upon the completion of the transaction/ End Use Purpose for which the Credit Information report was procured, this period not being longer than 6 months.
  • Governing Law and Jurisdiction

  • The relationship between you and Car Trade – CarTrade Tech Limited shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of Mumbai.
  • Definitions:

    • Capitalised terms used herein but not defined above shall have the following meanings:
    • “Business Day” means a day (other than a public holiday) on which banks are open for general business in Mumbai.
    • “Credit Information Report”means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by Experian;
    • “Credit Score” means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
    • “CICRA” shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
  • PLEASE READ THE ABOVE MENTIONED TERMS AND CONDITIONS AND CLICK ON “SUBMIT” FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS/ FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH CAR TRADE – CARTRADE TECH LIMITED IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
  • BY CLICKING ON "SUBMIT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN.