Irvine, CA – July 6, 2016 – SpringboardAuto.com today announced that it is has added easy and painless automotive refinancing to its instant auto loan decision application. Consumers can apply to refinance their auto loans from anywhere, anytime, and receive a response in seconds.
Unlike the traditional refinancing process that only has static single terms (such as a fixed interest rate and payment), SpringboardAuto.com puts the consumer in control of displayed loan term options. The application process is automated, transparent and can be done 24/7 from anywhere using a smartphone or computer. Approved consumers configure selected loan terms to meet their individual objectives, which can be to lower an existing monthly payment, or reduce the amount of interest paid. Best yet – there’s no obligation to commit and no impact on a consumer’s credit score to receive an offer.
“Refinancing an auto loan shouldn’t involve any smoke and mirrors – we educate buyers up front on interest rate, loan duration and even include a slider tool to help them see how more or less money down changes the terms of the loan. The bottom line: we will either be able to give a consumer a loan that better meets their needs or not,” said SpringboardAuto.com CEO Jim Landy. “If not, there’s no harm to the consumer’s credit score and no obligation.”
During the refinance process, SpringboardAuto.com provides a side-by-side presentation of the consumer’s estimated current loan compared to their new loan term preferences; and, because there is full transparency, the consumer knows if the loan is beneficial or not.
“The reasons to refinance are unique to every individual – it might be that you’re about to become a new parent and the costs associated with the new baby mean you really need a lower monthly payment, or perhaps you’re ready to shorten the loan duration and pay the vehicle off faster – whatever the need, our tool lets you easily configure the loan to fit,” said Landy.
SpringboardAuto.com’s refinancing auto loans are available via website or smartphone. The company leverages technology, data, and analytics to expedite and secure the entire financing process. Once approved and the loan configured, SpringboardAuto.com guides the borrower through the rest of the refinance process and the loan agreement is signed online for everyone’s convenience.
SpringboardAuto.com is a financial technology company, partially owned by CUNA Mutual Group, whose direct-to-consumer auto loan platform puts the consumer in the center of the loan process. Founded by industry veterans, and staffed with an experienced team of automotive finance experts and technologists, SpringboardAuto.com facilitates and educates consumers during the loan process, offering faster decisions, transparency, personalized loan terms and support resulting in a better consumer experience. SpringboardAuto.com consumers are in control as they refinance auto loans or finance and purchase new or used vehicles directly online or via their smartphone. Uniquely leveraging data and analytics, SpringboardAuto.com empowers consumers, while offering benefits to auto dealers, credit unions and other lenders.