TrueCar & AutoFi collaborate for ‘easy and seamless’ financing options
The past two weeks have been quite eventful for AutoFi.
After finalizing a relationship with Santander Consumer USA, the platform for end-to-end digital automotive sales and financing announced it has teamed up with TrueCar to provide customers with an “easy and seamless” process to explore auto financing directly from the TrueCar marketplace.
According to a news release, this new experience will allow consumers who have configured payments on TrueCar and are ready to make a vehicle purchase to apply for financing through their chosen dealer, powered by AutoFi’s Lending as a Service.
The firms explained that consumers are then able to see the offers from a variety of finance companies, compare them and decide what’s right for their needs. Once they’ve selected their financing options — including chosen protection products — they can quickly complete the transaction with their dealer, AutoFi and TrueCar said.
“AutoFi is a fintech pioneer in the automotive segment and a proven digital retailing solution used by thousands of dealers,” TrueCar chief executive officer and president Mike Darrow said in the news release. “We’re excited to partner with them to enable the discovery of auto finance options for our customers.
“It is yet another way we want to give TrueCar shoppers the best experience possible while making a car purchase,” Darrow continued.
TrueCar highlighted these new capabilities are a key step in its path toward enabling a marketplace-based end-to-end auto buying experience. Consumers can explore pricing, a value for their trade-in, accurate monthly payments and soon auto financing offers and protection products all on the TrueCar platform.
“TrueCar is laser focused on using leading technology to enhance the consumer experience,” AutoFi CEO and co-founder Kevin Singerman said in the news release.
“AutoFi is excited to partner with TrueCar to extend our digital sales and financing solutions, beyond just the dealership’s website, but to TrueCar’s vast audience of millions of car shoppers,” Singerman went on to say.