Carputty Technology Solves Spiking Rate Burden for Auto Buyers & Owners
2024年7月11日 - 8:00PM
Carputty, a pioneering fintech company transforming the auto
financing landscape, is announcing lowered rates for new Flexline
members, starting at 5.34%. In response to the current
high-interest environment, which has made it challenging for car
owners and buyers, Carputty is taking steps to ease financial
burdens and bring much-needed relief to new applicants.
Addressing High-Interest ChallengesThe
prevailing high interest rates have significantly impacted car
buyers and owners, resulting in increased monthly payments that
strain household budgets. While dealerships and OEMs are beginning
to introduce deeper incentives, these promotions are designed to
drive consumers toward specific vehicles. Unfortunately, these
incentives seldom extend to the used car market. Recognizing this
gap, Carputty is introducing rate cuts, with the lowest rates
equivalent to the current Secured Overnight Financing Rate (SOFR).
With the Carputty Flexline, the same rate will apply to any
eligible vehicle, including used vehicles up to 8 model years old,
giving consumers the freedom and flexibility to make the choices
they want. Because Carputty has developed proprietary underwriting
software, its platform can minimize risk differently than
traditional models, making this rate opportunity possible.
Revolutionary FinTech FeaturesCarputty’s
Flexline offers a revolutionary approach to vehicle financing for
those with good-to-excellent credit:
- Secure, Fast, and Simple Online Application:
Apply online with a straightforward, secure process.
- Flexible Financing Options: Finance multiple
vehicles simultaneously or over time.
- Versatile Usage: Use Flexline for new or used
vehicle purchases, refinancing existing loans, or buying out
leases, all at the same interest rate.
- No Impact on Credit Score: Apply without any
effect on your credit.
- Lifetime Financing Solution: Once the line is
originated, you’ll never have to apply for an auto loan again.
Flexline Benefits & OpportunitiesNew
applicants who qualify will benefit from the new lower rates. The
best rate is currently set at the equivalent of SOFR, currently at
5.34%, giving members access to very competitive financing for
their vehicles. Along with these preferred rates, new members can
realize a number of unique benefits of their Flexline:
- Generous Financing Limits: Access up to
$250,000 in financing with individual vehicle limits up to
$150,000.
- Small Business Lending: LLCs can get a small
business automotive line of credit up to $800,000.
- Flexible Vehicle Financing: Finance multiple
vehicles, at once or over time, without having to reapply.
- Rate Transparency: Rates are calculated based
on a fixed margin over SOFR. Each member’s margin is set and does
not change.
- 1 Fixed Rate: The same fixed rate applies to
any eligible vehicle.
- Lifetime Access: Apply once for lifetime
access.
This initiative aligns with Carputty’s mission to provide
consumers with greater flexibility and choice in auto financing,
ensuring that they can make informed and advantageous vehicle
investment decisions.
About CarputtyFounded in 2020, Carputty is a
fintech company dedicated to modernizing auto financing and
ownership. Through its innovative Flexline product, Carputty offers
members a flexible line of credit to finance various vehicles,
including new and used automobiles, lease buyouts, and refinancing.
By leveraging data-driven insights, Carputty empowers consumers
with transparent and dynamic financing solutions. As a multichannel
business, Carputty also enables end-to-end auto financing
capabilities for other lenders and partners looking to offer
consumers the benefits of its cloud-based platform. Learn more
about Carputty at Carputty.com.
For media inquiries, please contact:
press@carputty.com