Resurs has launched a new financing option named Resurs Pay by Loan that offers flexible financing for vehicle purchases. Unlike traditional fixed-rate financing options, Pay by Loan simplifies the application process and eliminates the need for customers to act as intermediaries. Resurs partnered with Autolend, a credit broker company, to create this product, which is part of Resurs’ Banking as a Service offering and investment in digital services.
Also check: Resurs Bank Credit Cards (Complete Review 2023)
In recent years, there has been a growing demand for seamless services that improve the customer journey. To meet this demand, Resurs has integrated its new solution into Autolend’s platform. By using this platform, customers can apply for a loan and receive a customized plan that suits their individual needs, making it easier to plan their purchase.
Felix Erlanson, Commercial Director Consumer Sweden at Resurs, explains that the new offering provides a unique risk assessment for each customer, ensuring that they receive a relevant and competitive financing option. This is particularly important for those who are struggling with increased costs and want to buy a car without collateral.
Resurs Pay By Loan is easier for everyone
Pay by Loan is a versatile service that can be integrated into various platforms, streamlining the sales process for merchants. Unlike traditional financing options where the customer receives the funds and pays the dealer directly, Pay by Loan’s payment is sent directly to the dealer via Autolend’s platform upon delivery of the vehicle. This real-time solution provides immediate feedback to the customer and speeds up the purchasing process.
Felix Erlanson, Commercial Director Consumer Sweden at Resurs, explains that Pay by Loan is a fully automated and digital service that benefits both car dealers and consumers. Resurs and Autolend are dedicated to bringing innovation to an industry with rigid structures and strong traditions, making them ideal partners to revolutionize the car loan market.
According to Micke Nordberg, CEO at Autolend, the collaboration between Resurs and Autolend has the potential to “stir the pot” and bring about positive changes to the industry.
Is Resurs Pay By Loan a subscription like Care by Volvo?
Volvo recently innovated in the car lease and finance sector by introducing Care by Volvo, an all-inclusive subscription service with quick access, great availability, and short-term cancellation notice. Even though Pay by Loan from Resurs also aims at making care loans more flexible and simple, the product from Resurs does not include maintenance, insurance and other features included in the subscription model from Volvo.