SoFi Unveils Auto Loan Refinancing Options on Lantern


SoFi, one of the most successful fintechs in the United States, announced on Tuesday that it had launched refinancing of auto loans through its comparison platform for financial services products, Lantern. SoFi announced that it has launched auto loan refinancing through its partnership with MotoRefi, an automotive fintech startup with a mission to help people save money on their auto loans.

As stated previously, Lantern is described as a marketplace for financial products. SoFi says Lantern makes it easy to shop across multiple companies and compare loan products.

“Running a business during a time of economic uncertainty is stressful and we want to help business owners easily compare their financing options for small businesses. “

SoFi also reported that the integration is powered by MotoRefi’s Ecosystem API, which allows borrowers to connect them to pre-qualified refinancing offers that the company says saves borrowers an average of $ 100. /month. Speaking of the launch, Anthony Noto, CEO of SoFi, declared:

“We know that reducing the monthly payments on a loan that has been used to finance an expensive, but often impaired asset, is a smart move that can have a very real and positive impact, not only on a monthly basis, but also in the long term. term. Our decision to expand into auto loan refinancing is rooted in the belief that everyone deserves visibility into the steps they can take to improve their financial situation at every stage of their financial life.

SoFi then concluded that borrowers interested in its auto loan refinancing offers can begin the process on the home page or directly through Lantern, the product comparison site owned and operated by SoFi.

“In the coming weeks, SoFi will continue to embrace Financial Literacy Month by helping people get their money right across categories through educational content, new solutions and through the continued expansion of its network. of partners, which includes major lenders, insurance providers and Suite. “


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