TruckBazar: Resolving Transparency Problem in Buying & Selling of Used Trucks

NavinAgrawal, Pratik Bagde, & Nitesh Bagadia,Co-FoundersThe Indian commercial vehicle segment is one of the largest markets in the world, with its economy highly dependent on transportation in more than one way. For a country with continuous business running on freight age, trucking and logistics are attracting new entrants operating on truck aggregation and market place models. Among such thriving conquest to set up a new brand identity in the genre of commercial vehicles, TruckBazar launches itself in the game to establish asa multi-brand outlet in buying and selling of used trucks by providing detailed description of vehicle, document status and inspection report, and thus offering an adept opportunity for truck owners and transporters to buy and sell used trucks online.

Structured on online and offline platform, TruckBazar was incepted in Pune with the vision to organize the highly unorganized market of selling used commercial vehicles from minitrucks to heavy haulers in India. The company purchases the trucks from various dealers or banks, does the required paper work and then sells the trucks to
the potential buyers with the
assurance of good quality and validity of all the documentation. Dislodging the need of the middle man as a dealer or broker who clings in for a commission cut, TruckBazar gives the customers a transparent portal where they choose truck hassle free with all the necessary details validated starting from the truck model number to the truck information from RTO(Regional Transport Office), there by imprinting the trust for the brand.

Abiding all the norms set by the Govt. of India on taxation, TruckBazar also helps its customers in getting a second hand vehicle finance and insurance

Beyond Buying & Selling
Apart from conventional buying and selling, the portal has information about the new trucks, their specifications and prices so that customers can compare between the first hand version and the second hand version of the truck. With no compromise in verification of the fitness of used trucks along with validation of the related documents like insurance, tax, permit and fitness certificates, all aspects of the truck like tyres, battery and engine are duly checked before buying.

Abiding all the norms set by the Govt. of India on taxation, TruckBazar also helps its customers in getting a second
hand vehicle finance and insurance. With a special section named - Transport Directory on the website, which aims at creating the largest directory of the fleet owners along with their information (Name, Address and Email Address),TruckBazar looks forward to add a comment section so that the transport owners can check each other's services and check on customers' feedbacks and ratings.

Progress Measures
Dealing with dealers' information all over India, the website helps the buyer to compare different trucks from different brands in addition to truck valuation or price calculator, details of truck history and truck inspection, all on its 'Truck History' section of the portal, which further adds a solid articulation to the context. The buyer gets complete information of the commercial vehicle like model number,engine number, number of previous owners, documents like insurance, tax and permit, the ‘used truck price’ calculator lets the customer gets a rough estimate of the truck, making the portal the best online destination to look for second hand commercial vehicles.“We plan to create a professional and trusted brand in such an unorganized market with technology at its core,” proclaims Navin Agrawal, Co-Founder of TruckBazar. With 25 transactions with an average price of Rs.3-3.5 lakh and operating margin of 15 percent, the company looks forward to improve the sell-out from five vehicles per months to 10 in each city to establish itself as a big brand in used commercial selling segment.