Auto refinance loans

Accelerate auto lending through AI

Expand your auto loan portfolio by approving and refinancing more borrowers with Upstart’s AI lending platform.

"With our ongoing commitment to serve our community, we want to expand to auto refinancing in order to help our customers save money. To meet changing customer expectations, Upstart’s auto lending platform will enable customers to refinance their auto loan without stepping into a branch."
Dale Oberkfell, President, Midwest BankCentre

Unlock the value of refinancing through Upstart

100%
instant-decisioned auto loans1
16%
avg borrower savings per month2
100%
managed lien perfection

Tap into the growing auto refinance opportunity

Auto refinance represents a small share of the $1.37 trillion3 in outstanding auto loans. As consumers look to save money, lenders have a significant opportunity to expand their auto portfolio and deepen their relationships by partnering with Upstart.

Upstart for auto refinancing is powered by our AI lending platform which enables fast, all-digital originations with accurate risk-based pricing.

How you benefit

Grow your auto loan portfolio through refinancing

Originate more auto refinance loans profitably

Refinance loans with compelling offers

Acquire new customers

Deliver a modern digital refinance experience

Provide a fast and seamless application process for consumers

Automate approvals with minimal fraud rates

Trust Upstart to manage the entire process including stips and lien perfection

Lend to more creditworthy borrowers safely

Price and predict risk with accuracy

Increase approvals within your risk tolerance

Maintain full control of your credit policy

How it works

Oval
Application​

Lender-branded, mobile-friendly application is pre-filled with existing customer information, making the process quick and easy.

Vehicle and loan details such as VIN or license plate are automatically pulled.

Oval

Credit decisioning

Our risk-based AI model prices customers within your credit parameters resulting in higher approvals and lower losses.

Asset valuation is pulled from third party services and then leveraged in loan pricing.

Oval

Fraud & verification

Customer information is verified with many applicants approved automatically.

Our expert staff manages all stips requested for higher-risk applications.

Oval

Loan closing

We provide an e-signature process with our refinance verification.4

Funds are sent directly to the previous lender – and payoff is verified.

Oval

Lien perfection

Upstart handles title management for both electronic and paper titles creating a seamless experience for your institution and consumers.

How it works

Oval

Application

Lender-branded, mobile-friendly application is pre-filled with existing customer information, making the process quick and easy.

Vehicle and loan details such as VIN or license plate are automatically pulled.

Oval

Credit decisioning

Our risk-based AI model prices customers within your credit parameters resulting in higher approvals and lower losses.

Asset valuation is pulled from third party services and then leveraged in loan pricing.

Oval

Fraud & verification

Customer information is verified with many applicants approved automatically.

Our expert staff manages all stips requested for higher-risk applications.

Oval

Loan closing

We provide an e-signature process with our refinance verification.4

Funds are sent directly to the previous lender – and payoff is verified.

Oval

Lien perfection

Upstart handles title management for both electronic and paper titles creating a seamless experience for your institution and consumers.

You're in control

Configure your credit policy

Apply a wide array of qualifying criteria such as minimum credit score, maximum debt-to-income ratio, loan sizes, loan-to-value ratios, and more.

Set your pricing strategy

Configure rates to meet your desired return on assets tailored to your risk appetite.

Leverage AI to predict default

Approve borrowers that meet your risk profile – our model predicts the probability and timing of default.

You're in control

Optional services

Applicant acquisition

Upstart can present your offer of credit to applicants on the Upstart.com site via the Upstart Referral Network to help you drive origination volume that compliments your existing marketing efforts.

Loan servicing

Upstart provides a comprehensive servicing solution that is lender-branded including U.S. based customer support, a payment platform, and collections services.

Request info

Learn how you can grow your auto loan portfolio by offering your customers an easy and modern digital refinance experience that saves them money.

1 Instant decisioned is defined as presenting the applicant with a credit offer or a decline decision based on their application.

This information is estimated based on all consumers who were approved for an auto loan through Upstart and accepted their final terms. As of 06/30/2021, the average monthly savings amount is 16%.

Household Debt and Credit Report, Federal Reserve Bank of New York, Q4 2020.

E-signature refers to the online loan application and promissory note.