Navigating and Strengthening Lender-Startup Partnerships [PODCAST] | Auto Finance News | Auto Finance News

Navigating and Strengthening Lender-Startup Partnerships [PODCAST]

Sonia Steinway, co-founder and president of Outside Financial

When the turn-on-a-dime mentality of a startup challenges the red-tape decision-making of larger finance companies, strategic partnerships risk being marred by culture clash.

In this episode of The Roadmap, Sonia Steinway, president of Outside Financial, shares insights to help startups and their corporate partners develop and maintain healthy relationships.

Steinway also outlines the needs for thorough compliance and privacy protocol, as well as an ability to cater to consumers’ various learning styles.

In 2016, Steinway co-founded Outside Financial with Chief Executive Jon Friedland, with the goal of providing consumers with a transparent financial process for acquiring automobiles. Through the use of short- and long-form content such as videos, Outside Financial provides comprehensive advice to consumers to help them better understand the type of loan that suits them and the car-buying process. The company can help customers pre-qualify for loans that will enable them to purchase or refinance through a seamless, tech-enabled process and it’s network of auto lenders.

Having graduated from Yale Law School, Sonia Steinway has held a number of positions at various firms. Before co-founding Outside Financial, she was a judicial law clerk for the U.S. Court of Appeals. Additionally, she’s also served as a judicial law clerk for the Delaware Supreme Court and was a senior associate consultant for Bain & Company.

Tune in to The Roadmap to hear the full podcast below. Feel free to email us with questions and suggestions at

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0 thoughts on “Navigating and Strengthening Lender-Startup Partnerships [PODCAST]

  1. My comment was that if the high rates are justified – prove it.  If you can prove it, then the banker will get “Trustworthy points” and thanks for the community service. Now if the people with bad credit and no credit do not have the ability to pay for the loan when the loan is made, why is it being made? Or why is it being made for so much?


    If you cannot prove it, then the banker is abusing the public – again!


    While I have not asked the current auto finance bankers to prove it on this topic, I did recently in the past on credit card rates and fees. They could not prove it, were judged abusive by the public, and had the Credit Card Act shoved down their throats.


    Does “high risk lending” or is it “stupid lending” that includes extended term financing so that the buyer has no equity until year #5 and usually has no equity in his trade-in on the next car. Which one is it that allows the sale of “independent warranty insurance” that fails to deliver and is overpriced? Which one is it that finances the dealer no value add-ons? Etc, etc.


    Have you ever been in the coffee room at an auto dealership and listened to the boastful chatter of a salesman that was discussing how they “laid away” that car buyer? I have. “Laid away” is the polite words for their actual verbage that also means “Abused” which was the topic of this chat.


    Shame on the bank that let them get away with it. When I ran the auto finance division at a major bank, I would not allow that to be part of the financing package. And I was very successful in volume goals, losses, and profitability.

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