100,000,000 Americans have a car loan and more than 20% of car owners are overpaying on their auto loan rate. In 2019, more than 47% of all funded mortgage applications were refinancings. Meanwhile, barely 5% of all funded auto loans were refinances.
On the one hand, Americans simply don’t know that they can refinance their auto loans and save thousands of dollars.
On the other hand, the process of refinancing your car loan with any of the companies below is far from fast and easy: the process is usually inconvenient, requires a handful of phone calls and emails and you only find out what your total savings are once you’ve gone through the cumbersome process.
WithClutch.com is a fully digital platform that lets car owners like you refinance their vehicle loan from the comfort of their own home and 100% online. No need to set a foot in a bank or credit union. You can lower your rate or get cash in as little as 20 seconds.
I used to play Golf on the German National Team before I moved to the US in 2011. I co-founded a company called Carlypso after graduating from Stanford Business School in 2013. We went through YCombinator (same startup accelerator as AirBnb, DoorDash, Stripe, Reddit etc) in 2014, raised a total of $10M in venture funding by 2015 and sold the business to Carvana.com in 2017.
We joined Carvana pre-IPO, went public at a $2.5bn valuation and are now worth $40bn. Carvana is the most valuable used car retailer in the U.S.
While at Carvana, I did a bunch of real estate investing.
My co-founder and I stayed with Carvana for 3 years and left in June 2020 to start a digital auto loan refinancing platform. Our new business is all around helping Americans with challenged credit and doing our part to address income inequality.
This is me giving a Ted-like talk at Stanford including about my time as a Golf player on the German National Team:
https://www.youtube.com/watch?v=XqLhZ51zybQ
