SALT LAKE CITY -

Prestige Financial rolled out a new direct-to-consumer loan solution on Tuesday aimed at leveraging the potential market for refinancing a vehicle installment contract.

The company highlighted that Prestige’s new offering allows consumers to deal directly with the financing source to access the best contract available to them. Until now, Prestige has provided auto financing exclusively through dealerships. The company will continue its strong relationship with dealers across the country, but has created this new option to expand its ability to serve customers in the way that works best for them.

“We can see that consumer trends are changing, and we want to evolve with them by providing the best loan options possible,” Prestige chief operating officer Rich Hyde said. “Our job is to give our customers the help they need to better their personal financial situation and this is another tool we can use to do that.”

Prestige offers auto financing across a wide credit spectrum, including the most difficult situations such as bankruptcy, medical emergencies and divorce. Management insisted the company’s commitment to helping its customers improve their situations is exemplified in its unique Rate Reduction Rewards, which drops the interest rate as payments are made on time.

Executives went on to mention direct-to-consumer financing will allow customers to make Prestige their provider when they are looking to refinance, with the goal of either lowering their interest rate, shortening their term, lowering their payment, or a combination of all three.

Individuals purchasing from a dealership or another private party can also finance through Prestige.

“The founder of our company, Larry H. Miller, always lived by the maxim, ‘Go about doing good until there’s too much good in the world,’” Prestige president Bryant Henrie said.

“Our goal is to follow that advice as best we can by treating our customers with respect and giving them the most helpful financing experience for their credit type,” Henrie went on to say.