SpringboardAuto.com Brings Fast Auto Loan Decisions, Smooth Transactions and Consumer Control to California’s Used Car Buyers and Sellers

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Buying a used car through a private party can result in significant savings; but getting a loan can be both time-consuming and a hassle. SpringboardAuto.com launches fast, transparent private party online financing for today’s on-the-go consumer

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I went to SpringboardAuto.com on my laptop – and then on my smartphone – and was amazed at how fast and easy it was. I felt like I was in control of the loan process, and it was private, fast, and hassle-free

SpringboardAuto.com today announced that it is bringing ‘on-the-go,’ private party auto loans to used car buyers in Arizona, California, and Florida, with more states to follow soon.

The company’s new online platform – available via website or smartphone – reinvents the private party used car buying and financing process for both buyers and sellers, delivering a faster, more convenient, and more transparent online loan process for the approximately 11 million private party transactions that take place annually.(1) With SpringboardAuto.com, it usually takes less than a minute to complete the loan application and receive a decision – offering a new level of control and simplicity to the process - all with the cost-savings associated with private party transactions.

“It used to be you needed to run all around town to save money buying a car from a private party, and if you were selling your car, cash was the only safe option,” said SpringboardAuto.com CEO Jim Landy. “But a funny thing happened: mobile and online technology opened up the possibility for a faster, simpler, more convenient, more transparent – and more secure – financing experience for buyer and seller alike.”

SpringboardAuto.com leverages technology, data, and analytics to expedite and secure the entire financing process. Buyers benefit from real-time calculation of loan terms, tax estimation, online vehicle inspection scheduling, and the handling of all DMV documentation, while sellers find a serious buyer and receive funds instantly at loan closing. In addition, SpringboardAuto.com is a win-win for both parties because it enables a more advantageous purchase/selling price versus a traditional dealer purchase/trade-in scenario.

It also saves precious time for both buyer and seller: most SpringboardAuto.com loan applications can be completed in less than a minute, without even requiring a social security number. Importantly, the application only triggers a ‘soft’ credit pull with no risk to the consumer’s credit. And, rather than having terms dictated to him/her, the consumer configures loan terms to suit his/her individual needs. Once approved and the loan is configured, SpringboardAuto.com handles the rest, and makes a check to the seller available on-the-go as well.

“I specifically wanted a Jeep Wrangler,” said SpringboadAuto.com customer Andy Ortega of Santa Ana, California. “I researched and looked for a couple of months at different dealerships, but didn’t find what I wanted at a price that fit my budget. However, I found exactly what I wanted from a private seller– the right car at the right price. At first I worried that the finance part of the deal would be really difficult – but I went to SpringboardAuto.com on my laptop – and then on my smartphone – and was amazed at how fast and easy it was. I felt like I was in control of the loan process, and it was private, fast, and hassle-free.”

Continued Landy, “Our team of auto finance veterans have financed over a million consumers across the credit spectrum, including those with less than prime credit. This segment today not only represents 45% of used car buyers, but also a new kind of consumer, who is ‘always-connected’ making buying decisions ‘on-the-go'. We focused on building a process that not only removes risk and saves time and many for both private party buyer and seller, but takes the pain out of what, to many, is an unfamiliar process.”

About SpringboardAuto.com
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 and outcome. 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.

Media Relations
Melanie Webber (melanie(at)mwebbcom(dot)com), mWEBB Communications, 424.603.4340
Cassandra Cavanah (cassandra(at)mwebbcom(dot)com), mWEBB Communications, 818.397.4630

(1) based on data from NIADA Used Car Industry Report, July 2015

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Crystal Hartwell
mWEBB Communications
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