The founders of Truebil were all gainfully employed – some of them in other startups, others in swanky corporate jobs. So, why did they chuck all of it to start a company for used cars?
The answer to this question lies in the can-do spirit of today and the growth story of India itself!
The purchasing power of Indians is predicted to grow by leaps and bounds in the coming decades. This also means that the value of Indian currency will increase as India is set to be the second largest economy in the world.
All these increases would translate into Indians buying more cars than they are now. The cars will be changing more often too- on an average every two years instead of five or six. The four wheeler market will see a rapid growth and cars will take the place of bikes as the first vehicle. Parents will be able to afford a safer option and hence prefer used cars for their teenage children over two-wheeler.
In this scenario, ease of use is more important than anything else. A used car is a non-standard commodity and so the customer doesn’t and cannot have specialized knowledge on the product that he wishes to buy. In the current internet age he turns to the online market and finds a mish-mash of services.There are the prehistoric players- the classifieds, where everything is non-curated. Everything from buckets to bed sheets are sold there and a user is unable to shortlist the product of his choice.
Then there are the newer players who see that there are dealers and customers. All they do is connect the two. They have removed the clutter from the equation. Yes. But have they relieved the customer of his offline pain points? The answer is a big NO. Due to the existence of dealers, price and quality is affected. They tamper with parts, and it’s difficult to put faith in them. The car itself is priced at a much higher price because dealers need to make a commission or a margin. The relationship between the buyer and the seller is unequal.
This stark gap in the market of used cars in Mumbai calls for a new player, one which focuses on the following aspects while connecting with customers:
1. Verify, certify and curate used cars – Simplifying the entire process by connecting buyers directly to the sellers.
2. Offering thorough test drive – Once the customer shortlists a product he should be able test the car until he is satisfied of its quality.
3 .An assurance that everything will be handled – In case anything goes wrong, ensuring that it will be take care of. Hence busting the uncertainty of dealing with used cars.
This is why Truebil entered the used car market space in Mumbai – to simplify the process of buying a car- which should be a fun, and engaging experience devoid of unnecessary problems and worries. These 7 youngsters have an ambition for the market and for themselves to help build the future where you are just a click away from buying your car and having it delivered at your home.
Quoting David Weekly, we would say that we love the journey so far and there is absolutely no finish line. 🙂
Explore our catalogue of verified Used Cars in Mumbai