Honcker to Add Lease Payment Feature, Co-Signing Option Into App

LAS VEGAS — Startup Honcker Inc. will push out an updated app with new payment features “in a few weeks,” Founder and Chief Executive Nathan Hecht said at the 2017 Auto Finance Summit late last month.

The leasing app will feature two major changes, developed in response to customer feedback and to target the millennial market.

The first change will include the ability for customers to more easily jump into a new vehicle by rolling an existing lease payment into a new lease, thereby only having to pay one bill. There will be a lease button that customers can click to see how much they would be paying for a new lease alongside the remaining payments for a current lease, Hecht said.

The second change to the app is the ability to add a co-signer, which was previously only offered if a lessee’s credit report required one. Now, the customer is given this option from the beginning. “As millennials come into play and want a parent to co-sign, or student loans are affecting their credit score in some way … we are giving them that [co-signing] option,” he said.

Honcker launched in December 2016 and recently closed a $3.6 million round of seed funding.

For more coverage from the 2017 Auto Finance Summit, click here.