DENVER – AUTOPAY, a platform for new car loans and auto refinancing, and DigniFi, an automotive financing platform, announced a partnership to help drivers reduce their monthly car payments. AUTOPAY will offer refinancing options to drivers who have improved their credit by making timely payments on auto service financing and other financial products offered through DigniFi. On average, AUTOPAY helps drivers slash their interest rates in half and save as much as $8,000 on car ownership.
"We partnered with AUTOPAY because they are the best in the refinancing business and share our mission to look out for drivers' best interests," said DigniFi CEO Richard Counihan. "New players in this space simply don't understand the complexity of refinancing and cannot match AUTOPAY's ability to automate the backend process and source the best deals for drivers. Working together, we will put dollars back in Americans' wallets."
AUTOPAY handles the end-to-end refinancing process from pre-qualification to title change. Using artificial intelligence, AUTOPAY finds the best loans for every driver, tapping into a network of more than 40 lenders. The company serves Americans across the credit spectrum and is able to offer more approvals and lower rates than competitors. Since 2015, AUTOPAY has refinanced nearly $2 billion worth of loans, saving each driver $1,144 per year on average. AUTOPAY holds an exceptional 4.6 out of 5-star rating from both ConsumersAdvocate.org and the Better Credit Blog.
Through this partnership, AUTOPAY will offer refinancing to drivers who have improved their credit by paying off loans secured via DigniFi, which helps drivers afford vehicles, auto repairs, upgrades, accessories, and trade-ins with flexible payment terms. Because DigniFi reports to a credit union, drivers can improve their credit worthiness and qualify for better rates just by paying off a DigniFi loan.
DigniFi works with more than 5,000 dealerships and auto service centers to offer loans and ExpressWay, a revolving credit line. Customers can apply for DigniFi loans and ExpressWay on their personal smartphone and receive a decision in minutes from a lender. DigniFi helps drivers afford critical auto purchases while helping auto shops serve more customers and meet their financial needs.
"Our companies are dedicated to helping Americans navigate the confusing world of auto financing because the savings can have a massive impact on their financial health and quality of life," said Seth Meyer, founder and Managing Partner at AUTOPAY. "Working together, we can help Americans bring down the cost of vehicle ownership by thousands of dollars."