Top Global AI-powered Lending Solutions That Are Enabling Automotive Transactions

Top Global AI Powered Lending Solutions That Are Enabling Automotive Sector / Automotive Purchase

Fintech has disrupted many industries for the better. Customers love today’s digital payments systems because it releases the burden of carrying cash and cards.

Undoubtedly, fintech has become interestingly expansive these days, some of the major factors contributing to an increased adoption of fintech is its speed, the convenience it offers to both individual customers and businesses and their affordable prices. A recent survey suggested that at least 64% of today’s customers use fintech services at least once in a year. This industry and frequency of use is going to grow at a faster rate in near future.

Read More: The Influence of Mobile Apps WeChat Pay and Alipay Extends Far Beyond China’s Borders

Fintech has established itself in the Automotive sector only to break the dominance of the legacy financial services and open doors to plenty of new opportunities. The Auto Fintech platforms available today are useful in streamlining the whole automative transaction process.

From car rental, ride sharing platforms, to in-car payments, payment for parking, and online car purchase, Fintech has made life much easier. Here are a few top global Fintech solutions working on creating a bigger impact in the Automotive Sector:

  1. AutoFi

AutoFi is a San Francisco based start-up, which joined hands with Chase – A US major bank to facilitate convenient Auto Finance to the car buyers. This is a robust platform made for remote sales and AutoFi was made to redefine the automotive purchase for its customers. The platform has received 1st position in 2020 Dealers choice awards for pitching digital sales conveniently.

  1. AutoPay

With AutoPay, customers can avail auto-financing rates as low as 1.99%. AutoPay helps you grab a lower interest rate on your car loan. Whether it is new auto loan or refinancing, Auto Pay shall offer both to you. Leave the headache of vehicle purchase behind with the rate calculator provided by Auto Pay.

Read More: SafeButler and Liberty Mutual Partner to Offer Instant Renters Insurance

  1. MotoRefi

MotoRefi makes your car purchase easier by helping you refinance your car loan. MotoRefi pools in funds back to your pocket while you grab the best deals from the top lenders. It helps the customers secure their loan by following a three-step procedure. You check the rate, select the offer and finalize the deal. 1-2-3 Go.

  1. Blinker

Car buyers always look forward to having control on purchase and payment decisions. Thankfully, Blinker has facilitated this for its customers. After their recent collaboration with Autotrader, they have expanded marketplace capabilities by incorporating innovative transactional facilities.

  1. Carsdirect

Headquartered in California, Carsdirect is a sleek market place for auto dealers and buyers. It is a holistic platform to buy, sell new and used cars. At Carsdirect, the car buyer can insure and finance the car conveniently by grabbing the best market rates.

  1. Neo Finance

This is a unique and a one of its kind platform which offers peer to peer lending. Whether it is consumer loan, auto loan or refinancing, each user has the opportunity to lend and take loans from this very digital platform. It is the only Lithuanian P2P platform with unlimited e-money institution license. With its unique credit assessment platform, the credit decision for the lender and consumer is completed beyond checking the credit scores.

  1. Divido

Divido is a popular SaaS based lending platform helping plenty of car dealers and buyers connect at a single platform. With such a seamless connection, Divido helps flexible payments at the point of Sale. At Divido, retailers get an opportunity for better conversion rates, brand building through trust. The lenders in return avail advantages of top class retail financing platform, which markets them faster than any other platform in the market.

Read More: Doxim Announces Omnichannel Loan Origination and Account Opening in Partnership with Mobetize

  1. Rodo

Previously known as AutoGravity, Rodo makes your way easy to buy a new car. Browse from a selection of hundreds of car listings, filter your choices and finance your car deal with the help of its auto finance tab. Within just three steps, you will have your car right at your doorstep.

  1. Carvoy

Carvoy has kept things simple and easy for its customers. Essentially, an online automotive marketplace, Carvoy makes new car purchase and leasing quite easy and convenient for the customers. Carvoy enables healthy competition among various car dealers and represent the figures on the screen for the customers to compare to grab the best deal.

Besides these veteran Fintech start-ups, there is yet another class of start-ups looking forward to tie up with banks and global Auto makers and dealers; aiming to add more convenience to the car purchase experience.


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