Bangalore engineers develop solution to track history of used cars - Daily News & Analysis

One of the IIM-B 'Next Big Idea' competition finalists Naresh Khanduri and Ritwik Batabyal from Ttatva Innovation Labs. - Edul A Govadia/DNA If you plan to buy a used car soon, a website can help allay all your apprehensions regarding the history of the vehicle you are eyeing. Right from where all that pre-owned car has been re-painted, to the number of accidents it has met with, or the condition of the engine and electrical system, to any mechanical problems or unpaid fines for traffic violations--all this detailed information which dealers often withhold can be revealed within hours. CheckCar.in that will be launched by the end of June will provide buyers all that they need to know about a used car. By simply keying in the number of the used car they plan to purchase, buyers can immediately get initial details regarding the engine, insurance, etc, says Naresh Khanduri who has developed the solution. "If prospective buyers want further details, they can book a slot for physical inspection. Post this, our experts will fit gadgets inside the car that can give details about its history, mechanical problems or any accidents the car has met. We then compile a detailed report for the buyer," says Khanduri, who along with his former Wipro colleague Ritwik Batabyal started Ttatva Innovation Labs which has developed CheckCar.in. All in all, the process can cost a consumer Rs1,499, including the physical examination. Batabyal says the idea is to give as much information as possible to prospective buyers to help them make informed decisions. "We are not into the buying or selling of cars. We just want buyers to have all the information while buying a used car," says Batabyal. Incubated at the NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM Bangalore, Ttatva was incorporated about a year ago. The two entrepreneurs, who were general managers at Wipro,  perceived a huge opportunity in tapping this segment of used cars, where currently there are almost no solutions that provide detailed information. They say although the ratio of new to used cars is currently 1:1 in India, it has the potential to grow to the level of 1:3, like in developed economies. "When for every new car that is sold, three used cars get traded, it implies that cars have transited from being mere luxury products to necessities. This can happen very soon in a city like Bangalore, where purchasing power and aspirations are on the rise," says Khanduri. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGbVtDF5yNEKJD9gMR8HJCXjqT3fQ&url=http://www.dnaindia.com/scitech/1838440/report-bangalore-engineers-develop-solution-to-track-history-of-used-cars

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