Buyers Can Now Rent to Own a Vehicle, Regardless of Credit or Down Payment & Use LendAmi to Easily Borrow Initial Security Deposit from Friends or Family!
HADDONFIELD, NEW JERSEY, US – November 24, 2020 / EINPresswire / — DriveItAway, the industry leader in automotive retailer mobility platforms, with a focus on rent-to-own car dealer technology, has partnered with LendAmi, the person-to-person platform that helps people borrow from their friends safely, securely and responsibly.
The DriveItAway platform has always been the easiest way for dealers to offer potential used car buyers a “try it before you buy it” rent to own platform, where money paid in goes towards the prearranged purchase price should the renter decide to buy the vehicle. Many times, this is the only way a credit or down payment challenged consumer can break the cycle of endless car rentals and buy the vehicle of his or her choice in a transparent, confident way.
Now, however, for some folks in this unprecedented pandemic we are in, coming up with even the minimal rental security deposit or insurance cost, up front, for his or her “dream” vehicle is a challenge.
Recognizing the need, DriveItAway has selected LendAmi to help facilitate person-to-person lending for buyers who have a need. “We have seen that many people now, need to borrow even the minimal amount we require to rent to own a vehicle from friends and family on an informal basis, and we see that many more would use a resource, if there was an easy, online way to facilitate borrowing from friends and family that would take out most of the guess work, and make it safe and secure for both parties,” says John F. Possumato, CEO and Founder of DriveItAway.
“DriveitAway is a natural fit for LendAmi’s platform which allows people to document and manage personal loans online with people they know, safely, securely and responsibly,” says LendAmi Co-Founder Kerry Baldwin, “Using LendAmi’s secure platform, borrowers and lenders negotiate terms, set up recurring payments using automatic bank ACH transfers and track the life of the loan. What we are seeing is that people want to help each other in times of need and LendAmi fits the bill.” Of the $288 billion in person-to-person loans transacted each year in the U.S., a recent LendAmi survey shows that 44% of these loans are only partially paid back or not at all. The vast majority of these are verbal agreements which invariably go “off the rails” due to their informality and lack of agreed to terms and documentation. The result is hurt feelings, damaged relationships and an unwillingness to loan again.
By partnering with LendAmi, DriveItAway will be able to help more buyers get into a car. “LendAmi make it more comfortable for borrowers to ask someone they know for a small loan and provides greater confidence to the lender that they will get paid back” said Baldwin. “We are excited to partner with DriveItAway and their network of car dealers to help them move even more inventory.”
“Our mission has always been to enable vehicle ownership and facilitate a transparent, easy, economical and secure way for everyone to purchase a used car in-app, regardless of credit rating our immediate down payment, by starting the purchase in a rental, with an option to buy, with all payments going towards the down payment/purchase price,” adds Possumato. “By partnering with LendAmi, we allow even more people to start the process immediately to “DriveItAway,” and then buy the vehicle being driven whenever they choose, as LendAmi provides a transparent, easy, economical and secure way for everyone to raise whatever cash is needed from their network of family and friends.”
LendAmi is an easy to use online person-to-person platform that allows people to loan money to each other in a safe, secure and responsible manner.
Learn more about Lendami at www.lendami.com.
904 469 7518
DriveItAway is the first national dealer focused mobility platform that enables car dealers to enter the business of Mobility as a Service, and to sell more vehicles, in a seamless way through eCommerce, with our exclusive Rent-To-Buy App based program.
Learn more about DriveItAway at www.driveitaway.com.
John F. Possumato
856 577 2763