Know the Fair Market Value Of Used Vehicles

The buyers in the used-vehicle market are looking for better options among the pre-owned vehicles as they serve as a great value for money product. Customers can buy a used vehicle, which is in excellent condition both aesthetically and mechanically, at a very reasonable price. And this way, we do not have to spend a fortune on the car we want to buy. However, the trickiest part of all this comes when we get to determine the correct value of a used vehicle. Both as a seller and buyer, we fail to understand the fair pricing of any pre-owned vehicle.

There are various factors that play an important role in the depreciation of the value of your vehicle over the time. Some of these factors are the model of the vehicle, year of manufacturing, trim/variant, the odometer reading that states the kms driven, etc. But for understanding all this, we need to get expert opinion and professional advice. And this is where the online price calculating tools like Orange Book Value (OBV) come in.

Orange Book Value from Droom, the first and only algorithmic pricing engine for used vehicles in India, comes as a boon for the used car buyers and sellers as it helps in determining the exact value of any used automobile. OBV suggests the Market Value of a Vehicle of pre-owned vehicles including cars, motorcycles, scooters, bicycles and even aeroplanes in less than 10 seconds. This has brought a revolution in the used vehicle industry that has made buying or selling of second-hand vehicles a lot easier than it was ever before.

Sandeep Aggarwal – Revolutionizing Business with Technology

Sandeep Aggarwal is the founder of ShopClues – India’s first managed marketplace, and Droom – India’s first marketplace for Automobiles and related services. Known as the father of marketplaces in the Indian start-up ecosystem, Sandeep Aggarwal is extremely passionate about mentoring the start-ups in the country to help them develop their expertise on the entrepreneurial front. He founded ShopClues in early 2011, and started Droom in April 2014. While ShopClues witnessed a great success under his leadership, Droom is seeing a tremendous growth with Sandeep Aggarwal running it as the Founder & CEO. 

Sandeep Aggarwal CEO single-handedly raised a fund of $1.95M from 16 of his friends and close aids in the initial days after the official launch of ShopClues. Although the company was the 35th entrant in the Indian E Commerce segment, it went on to become the 4th largest E Commerce company within the initial 8-9 months under his leadership. 

Droom has been witnessing a tremendous growth in terms of adoption by sellers, number of categories and listings, and GMV/transactions. Moreover, the company has geographical presence in 142 cities across the country. Droom is permanently changing the way automobiles should be bought and sold online by creating modern tools for the 21st century customers and building trust and transparency on pricing of used vehicles. The services offered by Droom have generated healthy revenue with more than 15% of the sellers having signed on for the subscription services and this figure is expected to increase to 40% by December 2017.

Sandeep Aggarwal - Journey of An Entrepreneur

Sandeep Aggarwal is the founder of two marketplaces in India, ShopClues – India’s first managed marketplace, and Droom – India’s first marketplace for Automobiles and related services. He is also an internet visionary, serial entrepreneur, angel investor and philanthropist. Sandeep Aggarwal launched ShopClues in the year 2011, that went on to become the 5th unicorn in the consumer internet industry in India. Later, in 2014, he founded Droom which is a one stop solution for buying both used and new automobiles and related services. Sandeep Aggarwal is widely known as the father of marketplaces in the Indian start-up ecosystem. Furthermore, he takes immense interest in mentoring the Indian start-ups to help them develop entrepreneurial traits and expertise.

Sandeep Aggarwal was born and brought up in Chandigarh. After pursuing his Bachelor’s degree in Commerce (B Com) from Kurukshetra University, he received a Master’s degree in Finance from Devi Ahilya Vishwa Vidyalaya. After that, Sandeep Aggarwal went to the USA to obtain an MBA degree in Strategy from Washington University in St. Louis - Olin Business School as a UGC scholar.

After witnessing a successful career in the corporate arena and working at famous US-based companies like Charles Schwab, Microsoft Corp, Citigroup, Oppenheimer & Co., Collins Stewart and Caris & Company, Sandeep Aggarwal founded ShopClues, and he never looked back. Sandeep Aggarwal ran the company as CEO until 2013; after that, he handed the responsibility over to Sanjay Sethi. In April 2014, he launched Droom that has become the largest online platform for automobiles in India within two years of its inception. It is the 21st century marketplace that uses modern tools and technology to operate efficiently in the automotive market. Droom uses data science and artificial intelligence to create trust, transparency, and pricing advantage for buyers.