Fintech startup Upfront was started to make refinancing worthwhile for car owners in America through an innovative tech-first process.
The company has led the charge in changing how refinancing works by partnering with top-tier lenders to give its customers the option to get their interest savings in upfront cash rather than only reducing their monthly payments.
Most borrowers refinance their car loan in order to pay less interest and bring down their monthly payments. However, many people aren’t jumping out of their seats to save an average of $82 per month over the next few years. Marc Escapa, Co-founder at Upfront, stressed that only 12% of car owners have ever refinanced their loans.
“This is where Upfront comes in,” says Escapa. “We work to not only get you the lowest interest rates but also the best upfront cashback offers from our universe of lenders. This gives you our best deal, guaranteed. And, for many of our customers, this means thousands of dollars in cash today for just minutes of their time.”
If customers decide not to refinance, they pay $0. The application to see if someone qualifies only needs a few pieces of information on the car, the loan, and the borrower. Upfront states that it only takes a few minutes, with no obligation, no cost, and no impact on the credit score, to get prequalified for offers.
Escapa says customers can realize their interest savings right away, and most lenders approve borrowers within 24 hours.
“Unlike other brokers, the company offers the option to get cashback fast so you can put your money to better use,” explains Escapa.
Upfront found that most people with a car loan are eligible for a lower interest rate that could save them thousands of dollars.
“There’s a chance that since you bought your car, your credit has improved, interest rates have gone down, or simply there’s a lender that will offer you better terms than what you got at the dealership,” explains Escapa.
The Upfront team is equipped with decades of experience in Wall Street and is passionate about leveraging its financial expertise to create impactful products and services.
The innovative platform was built by world-class engineers, leveraging the most modern technology to make the process way simpler and faster than the traditional alternatives.
Upfront experts have also collectively spent years working in the auto industry. Now, the team is laser-focused on bringing back savings to the American people.
Those looking to get started can learn more about Upfront by visiting its website.
The firm leads the way in eliminating the strenuous paperwork and trip to the bank. Customers can refinance their car 100% online or speak to an Upfront agent via text or call for questions.