Upstart Can Help Cut Your Car Payments by Hundreds a Year


You know you can refinance your house to save money on your monthly mortgage payment — but a surprising amount of people don’t realize you can refinance your car, too.

It’s not a money-saving tactic people talk a lot about, but it could save you a ton of money. A website called Upstart is helping people save an average of $1,025 a year on their car payments. That’s about $4,800 back in their pockets over the lifetime of their loan.

Could you use nearly $5,000 back in your bank account? It takes less than six minutes to check your rate.

How You Could Knock Your Car Payment Down

Upstart is an online lending platform that makes it easier than ever to refinance your auto loan. It comes with no origination fees and has a minimum FICO score of only 510, plus its machine learning system is helping more people take advantage of refinancing.

Humans are inherently biased, and credit scores only tell part of someone’s story. But Upstart’s artificial intelligence assesses true risk from a number of factors to approve more applicants than other lending models.

Most of Upstart’s auto refinance loans are fully automated, too, with flexible requirements and even their own proprietary underwriting software. And with an APR range of 2.20% to 29.99%,1 Upstart has helped its customers save millions of dollars on their car payments. 2

How to Get Started

Upstart approves more people for auto refinance loans, with rates an average of 10% lower than other lenders. They’ve saved people more than $20 million on their car loans in the past year alone.

Getting started is easy. It takes just minutes to check your rate. You don’t even need to enter your car’s VIN. Plus, there are no spammy phone calls.

If you have a car payment, check out your rate and see how much money you could save on your car loan.

Kari Faber is a staff writer at The Penny Hoarder

1The full range of available rates varies by state. The average 5-year loan offered…


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