Vehicle

Purpose and Functionality

Vehicle API is the first in class API in Indian Fintech where you get all the information about vehicles of users at once place. It facilitates companies who want to finance or lend against vehicles, Wealth managers to assess holistic net worth, Personal loans operators, and corporations. You need not to be part of any regulatory body to obtain this information.

Detailed features of Vehicle API

1. Vehicle Information - It contains all the information stored by the Parivahan for the vehicle and easily accessible to all. By using RC Number, all Vehicle and RTO info would be available.
2. Valuation model - This is the first in-house model in India which calculates current value of the vehicle, purchase price of the vehicle, and Ex-showroom value of the vehicle in current market condition by a Machine Learning Algorithm trained on huge amounts of data to give out best pricing values.
3. 360 Presentation Model - Vehicle Information also comes along with sophisticated and dynamic presentation of the vehicle rotating in 360-degree, giving complete checks of the vehicle digitally as well.

Input for Vehicle API

Vehicle API has only one input and can provide all the information based on that.

• Vehicle Registration Number - This is provided by the RTO at the time of registration and is the gateway for the info.

Broad applications of the Real Estate API

Vehicle APIs broad applications span multiple sectors, each leveraging its capabilities in unique ways to meet specific needs. Here's a detailed elaboration on how different industries might utilize this API:

• Banks and Non-Banking Financial Companies (NBFCs):
  1. Loan Processing and Approval : For banks and NBFCs, all the vehicle information, their location and addresses are important, which are crucial for hypothecating and checking whether Hypothecation has happened and registered on their name.
  2. Risk management: Getting straight away current value of the vehicle, minimizes risks and gives more clear insights on what Loan-to-value they could decide for the customers.
• Vehicle Marketplaces:
  1. Vehicle Info: Checking and getting Vehicle History overview, is there any Blacklisting, Challan details which they have pending or accuses, gives the marketplaces an advantage to check all these before listing the asset.
• Brokers, Distributors, and Fund Management Companies:
  1. Portfolio Management: These entities can utilize the API for ongoing valuation of vehicles within investment portfolios, ensuring portfolio values are current and accurately reflect market conditions. This is crucial for reporting to investors and for strategic decision-making regarding asset holdings. As Vehicle being depreciative asset, its current value and conditions are more accurately defined Net worth of an individuals.

Input Type

Common error scenarios

The following are the common error scenarios in sending an API request:

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You can try out the API here