MoneyMe launches into the $12B automotive finance market with AutoPay

ASX-listed fintech MoneyMe has unveiled Autopay, a secured vehicle finance solution for dealers and major growth innovation that it says will transform the $12 billion automotive finance industry.

Autopay is a same-day, drive away finance solution for dealers (B2B), brokers and consumers (B2C) delivering an Australian-first (one hour approval and settlement).

It uses market-leading speed and capability to disrupt current vehicle finance processes.

MD and CEO of MoneyMe, Clayton Howes commented, “We believe dealers who have access to finance that is settled in minutes and is a same-day drive away product will have a distinct sales advantage. In the same way that people look to Afterpay for where they shop, we expect consumers will look to Autopay when they purchase their vehicles.

“This latest innovation leverages our Horizon technology platform, with high automation, dynamic pricing and best-in-class speed to give dealers and customers an unparalleled experience.

“With an addressable market of circa A$12 billion, a strong customer use case and our ability to quickly assess and price credit worthiness, we expect Autopay to be a key driver of MoneyMe’s growth.”