Market Overview

CarFinance.com expands its consumer offerings across the prime spectrum

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IRVINE, Calif., Aug. 15, 2018 (GLOBE NEWSWIRE) -- CarFinance.com, the industry's leading online vehicle financing solution, announced today that as part of its continued expansion and evolution, it has partnered with lenders in both the non-prime and prime credit spectrum, ensuring the most robust coverage for its customers. 

Through a network of national banks and finance companies, CarFinance.com is now able to provide more customers with prime credit a refinancing option to augment the existing non-prime and sub-prime options currently available. This option rounds out CarFinance.com's refinancing selection and provides further flexibility to those looking to save on vehicle payments. Most borrowers in CarFinance.com's refinancing programs can save between $75 and $100 per month on their vehicle monthly payment while lowering the interest rate an average of over 200 basis points (2.00%).

"Many people are not aware how simple it is to refinance their car – and that they can complete the entire transaction in minutes using their smartphone. Having the full credit spectrum of lending will allow CarFinance to continue to provide competitive rates while delivering more control and transparency to the borrower," said Samuel López, Jr., SVP and Chief Marketing Officer of CarFinance.com.

Through its on-line experience, customers can quickly, and from the comfort of their own homes, fully complete the auto financing or refinancing experience, while maintaining complete control of the transaction. Unlike many other "fintech" platforms, CarFinance.com offers a completely integrated experience where customers can choose loan structures and lending options, fully completing all the required verifications and documents digitally – while supported by a lending expert who can guide and assist the borrower throughout the process.

Originating its first loan in 2011, CarFinance has now originated over $1 billion in auto loans – both for new vehicle purchases and refinancing of existing auto loans – and with the addition of a significant national bank partner, stands to bring its simplified process to more people.

About CarFinance.com

Headquartered in Irvine, California and authorized as a direct lender in 46 states, CarFinance.com is the industry's leading direct to consumer fintech. Managed by a diverse team of industry leaders, CarFinance.com's direct to consumer lending platform is dedicated to delivering a best-in-class user experience for consumers looking for a new or used auto loan or refinancing their existing auto loan. From the easy to use online credit application through the final funding process, the entire process can be completed virtually online directly with CarFinance.com. Each customer's information is kept private, safe and secure. See what customers are saying on social media by visiting CarFinance.com's Facebook and Yelp pages.

For additional information contact:
Blair Rohlfing
Harris, Baio & McCullough
(215) 440-9800
blair@hbmadv.com

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