Go To Loans Inc., a new Canadian fintech startup has created a revolutionary Vehicle Equity Line of Credit based solely on a vehicle’s value, providing consumers with immediate online loan approvals not requiring credit checks or income verifications. It has recently upgraded its app to instantly locate car repair shops that offer payment plans for car repairs.
Thornhill, ON (PRWEB) - The new Canadian fintech startup Go To Loans Inc. provides consumers with the ability to dip into the equity value of their vehicles to obtain instant online loan approvals for car repairs and maintenance. There are no credit checks or income verifications required for approvals which are instantaneous. The online lending platform instantly shows consumers their maximum eligible loan amount by simply providing their vehicle’s basic details including make, model, year and mileage.
The latest release of the GoToLoans web app now adds the ability to choose the type of repair needed and find mechanics and repair shops nearby based upon their location or entry of a postal code. The app even ranks the service providers by their distance and proximity to the consumer. According to Eric Kaplan, Go To Loans Inc. C.O.O.:
“This latest GoToLoans App release makes the consumer experience even better and easier, with choices from over 300 mechanics and repair shops. The app upgrade more quickly meets customer needs through vendor geolocation and organization by service."
The company was started in 2018 by Nahum Kaplan and Eric Kaplan, finance professionals with extensive experience in automotive lending. The Kaplans funded over $175,000,000 previously at a private lender, TREND Financial Inc. and grew the loan portfolio to over $50 million prior to its acquisition by a publicly traded company. Eric Kaplan summarizes GoToLoans’ objectives as:
“GoToLoans understands the importance of payment plans and the convenience offered to consumers. We are trying to bring a new level of convenience to an inconvenient expense, automotive repairs. With a quick and easy platform that breaks the traditional model focused on the consumers’ personal credit as opposed to their assets, offering loans has never been easier. With our automotive lending experience, GoToLoans is perfectly positioned to help consumers unlock the value in their vehicles to assist them with maintaining their means of transportation, especially in times of competing financial priorities.”
With the newest fintech solution for car repairs, Go To Loans Inc. through its fully automated and paperless lending platform offers repair loans ranging from $500 to $10,000, with repayment terms from 12 months to 48 months. In addition for maximum flexibility, consumers can choose how often to repay, monthly or even weekly, with the loan fully open to be paid off early at any time without penalty or fees. Unlike conventional lenders, Go To Loans can provide an approval based solely on the value of a vehicle without the necessity of having to collect any personal information from the consumer. Customers can instantly apply online through their mobile device and their lending matrix allows Go To Loans to provide instant real-time loan approvals.
Go To Loans Inc. is perfectly positioned to serve emerging consumer needs, where more and more consumers are opting for payment plan financing rather than paying upfront for large expenses. Trends and changes in consumer behaviour show that financing permits consumers to complete necessary purchases in situations when they have no ability to pay the entire cost upfront, such as for repairs to their automobiles. Vehicle repairs covered by Go To Loans include any mechanical repairs, engine repairs, transmission repairs, body work, performance upgrades and even rims and tires. Go To Loans is the newest approach in non-traditional lending to eliminate car repair anxiety!
About Go To Loans Inc.
Go To Loans Inc. is a Canadian-owned finance company, providing unique finance solutions to Canadians. At Go To Loans we specialize in approvals for vehicle repair loans, with easier and quicker processes than offered by traditional financial institutions.