Memos

Upgrade, Inc. Partners with Over 1,000 Dealers for Rapidly Growing Auto Financing Program

We’re excited to announce that our auto financing product has reached a major milestone: partnering with more than 1,000 franchise and independent dealerships nationwide. This milestone comes just over one year after launch, highlighting rapid growth and strong reception from dealers and their customers.

What Sets Upgrade Auto Apart

Auto financing through Upgrade helps our customers move in the right direction with responsible financial products, which in this case enables them to drive to work, pick their kids up from school, visit family, and more. 

• Technology: Using Upgrade’s proprietary lending and servicing platforms, the auto financing program has expanded rapidly across 29 states, providing dealers and borrowers with fast decisions and seamless experiences.
• Responsible Lending: The program prioritizes financing vehicles essential to everyday life, offering conservative loan-to-value (LTV) ratios, competitive rates, and robust risk management.
• Dealer Relationships: Upgrade’s credit decision model blends automation with expert underwriter review, ensuring flexibility for dealers and tailored approval for borrowers. Our dealers enjoy that flexibility and know they can always reach us at any time and count on us as partners.  

“Our approach to auto lending is deeply rooted in our commitment to responsible credit and a better customer experience,” said Scott Raymer, President of Auto at Upgrade. “We’ve combined advanced technology with expert underwriting to deliver a unique program that serves both dealers and consumers."

Momentum Since Launch

We have delivered over $500 million in responsible and affordable auto credit since launch just over a year ago, and we plan to deliver another $1 billion in 2025.

About Upgrade

Upgrade, Inc. offers affordable and responsible credit, mobile banking and payment products to mainstream consumers. Upgrade has delivered over $35 billion in affordable and responsible credit to over 6 million customers since inception in 2017. The company's headquarters are in San Francisco, California, with an operations center in Phoenix, Arizona, a technology center in Montreal, Canada, and regional offices in Atlanta, Georgia, and Irvine, California. Upgrade is a financial technology company, not a bank. More information is available at: https://www.upgrade.com