Blinker plans to integrate insurance, parts, and services into its peer-to-peer car buying app in 2018, after securing lender partners and expanding nationwide, President Danny Martinez told Auto Finance News.
“Our priorities are executing geographic expansion and integrating lenders, but we are also looking at how we can serve through the car-ownership lifecycle,” he said. “Our technology is great for buying and refinancing cars, but there are other things that enhance the customer experience — such as insurance, parts, and services.”
Currently, Blinker handles all lending activity on its digital buy-sell platform, but the startup is in the process of “diversifying” its offering by incorporating full-spectrum lender partners, Martinez said. He declined to share the lenders’ names, but said the integrations will be announced later this year.
Denver-based Blinker funds loans to consumers with Fico scores as low as 560, and loan terms ranging from 24 to 72 months.
Separately, Blinker expanded into Texas this week, with plans for further expansion into California and Florida this year. The startup aims to expand nationwide by 2018.
