The carshare and rideshare markets are gaining traction, and financiers must adapt their strategies or risk getting left behind.
“The challenge for lenders today is that they aren’t managing the loan properly because they don’t know they are financing vehicles for the rideshare and carshare consumer,” Brian Allan, senior director of strategic partnerships at HyreCar, told Auto Finance Excellence. “It makes sense for lenders to identify rideshare consumers and adjust the loan accordingly in order to keep buyer loyalty.”
In this episode of The Roadmap, Auto Finance Excellence talks with Allan to discover how lenders can modify financing practices with an eye toward the mobility-as-a-service paradigm shift. Allan also outlines tactics for managing loan terms with carshare and rideshare consumers.
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