Terms & Conditions

By filling this finance form on any of MXC Solutions India Private Limited’s (hereinafter referred as “Cartrade”) websites such as Cartrade.com, Carwale.com, Bikewale.com and all other websites of MXC Solutions India Private Limited’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.
By filling the form:
1. 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.
2. You agree and authorise Cartrade and 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.
3. You confirm that you would like to know via Communication Mode, offers and promotion schemes relating to various products/services offered by Cartrade and CarTrade’s finance partners, from time to time.
4. 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 and CarTrade’s finance partners.
5. 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 and CarTrade’s Finance partner’s products or that of their associates and affiliates or for enforcement of your obligations and agree that Cartrade and CarTrade’s finance partners are not liable for using/sharing of the information as stated above.
6. 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.
7. 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 and CarTade’s finance partners shall not be responsible/liable in any manner whatsoever for such rejection.
8. 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 and CarTade’s finance partners shall not be responsible/liable in any manner whatsoever for such rejection.
9. You understand and acknowledge that your online approved Equated Monthly Installment (EMI) can be changed offline. Cartrade’s finance partners shall have the absolute discretion, without assigning any reason, to reserve the right to change the Equated Monthly Instalment (EMI) and that Cartrade and CarTade’s finance partners shall not be responsible/liable in any manner whatsoever for such change in Equated Monthly Installment (EMI).
10. You understand and acknowledge that if there is any impact on your credit rating due to the use of our finance tool, Cartrade and Cartrade’s finance partners shall not be responsible/liable in any manner whatsoever for such an impact on the credit score.
11. 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.
12. You agree that funding amount and tenure will vary from vehicle to vehicle.
13. You agree that funding amount is subject to the LTV of the vehicle the customer/borrower chooses.
14. You have agreed/consented that CarTrade and 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.
15. 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 and Cartrade’s finance partners will not be liable for such any inaccuracy in the eligibility decision and/or the pre-approved amounts.
16. You agree that you or your relatives or friends or anyone on behalf of you cannot sue/ file a complaint against CarTrade 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 CarTrade, in such case the liability of CarTrade including its associated/subsidiary/ holding companies, will be limited to INR 5,000/- only.

Experian

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 MXC Solutions India Private Limited, a private limited company having its registered office at C/o Suraj Sanghi Service Centre Dr. Annie Besant Road, Worli, Mumbai - 400018 ("Car Trade - MXC Solutions India Private Limited", "Us" or "We", which term shall include its successors and permitted assigns). The User and Car Trade - MXC Solutions India Private Limited shall be collectively referred to as the "Parties" and individually as a "Party".

You hereby consent to Car Trade - MXC Solutions India Private Limited being appointed as your authorised representative to receive your Credit Information from Experian for 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, 2005 for the ongoing assessment of customers by CarTrade and its lending partners to provide personalized offers and products.
("End Use Purpose").

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") AND THE CREDIT INFORMATION SHALLBE ONLY RETAINED UPTO A PERIOD OF 12 MONTHS FROM THE DATE OF FIRST ACCESS TO SUCH CREDIT INFORMATION ;

YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND CAR TRADE - MXC SOLUTIONS INDIA PRIVATE LIMITED ON A MONTH ON MONTH BASIS FOR A MAXIMUM PERIOD OF 12 MONTHS. DURING THE PERIOD OF 12 MONTHS YOU WILL HAVE THE OPTION TO UNSUBSCRIBE/ OPT OUT. 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 - MXC Solutions India Private Limited shall access your Credit Information as your authorized representative and Car Trade - MXC Solutions India Private 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 - MXC Solutions India Private 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 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 promptly within 1 (one) Business Day of upon the completion of the transaction/ End Use Purpose for which the Credit Information report was procured.

Governing Law and Jurisdiction

The relationship between you and Car Trade - MXC Solutions India Private 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 ABOVEMENTIONED TERMS AND CONDITIONS AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS/ FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH CAR TRADE - MXC SOLUTIONS INDIA PRIVATE LIMITED IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.

BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN.