The combination of investor money and an online platform created by what the company calls an “A team” of industry veterans who have collectively more than 110 years of experience in automotive, below-prime automotive finance, billions of dollars of securitization execution and asset performance management generated a new website — SpringboardAuto.com.

On Wednesday, the site founders Jim Landy and Stuart Holmes described SpringboardAuto.com as a new direct-to-consumer auto loan platform that “completely reinvents the auto lending experience.”

SpringboardAuto.com originates and services loans for institutional investors. Providing an alternative to investors purchasing prime unsecured assets, SpringboardAuto.com offers loans to below-prime borrowers that are secured by a high utility asset.

Based in Irvine, Calif., the company is set to launch the new auto loan service early next year. SpringboardAuto.com is designed to enable consumers to refinance existing auto loans, or finance the purchase of a new or used vehicle directly online or via a smartphone, leveraging data and analytics to facilitate a fast, convenient, and transparent online loan process.

SpringboardAuto.com founders insisted that their new site can provide benefits for all stakeholders:

1. Consumers

Unlike other models that seek to monetize the loan applicant via the dealership, SpringboardAuto.com is designed to put the consumer in control and at the center of the loan process, offering faster decisions and online tools.

“SpringboardAuto.com will ultimately deliver a better consumer experience,” officials said.

“Consumers will have insight into information they may not otherwise be privy to in other lending models,” the continued. “Consumers will see how choices they make as they configure their loan, in variables such as loan term and reduced sale price, effect their overall final loan obligation.

2. Private Party Sellers/Buyers

The founders explained SpringboardAuto.com’s platform can bridge existing process challenges with private party transactions by enabling buyers and sellers to securely and easily transact and close their vehicle purchase and sale within the website.

“This includes everything from financing and inspections to DMV paperwork,” they said.

3. Dealers

Officials added that SpringboardAuto.com can fund loan applicants for a specific vehicle and funnel the qualified customer directly to the dealership at no charge.

“Even with lost rate mark-up, this transaction is a much more efficient below prime transaction for dealers when you account for the elimination of any lender fees, discounts and lead fees,” the founders said.

“The SpringboardAuto.com process will reduce the hours typically spent with subprime customers,” they added.

According to the recent Car Buyer of the Future study by Autotrader, nearly three-fourths of consumers want to complete credit applications and financing paperwork online. Among the key factors driving this trend is a desire to save time at the dealership and have less pressure while filling out paperwork.

Furthermore, a recent study from PriceWaterhouseCoopers showed that the overall experience — including speed, transparency and customer service — often trumps interest rate as a consumer’s biggest consideration when choosing a lender.

“The market for auto loans has changed dramatically over the past few years, yet auto lenders have not kept up with today’s consumer demands, especially those of the technical-savvy millennials who live and breathe on their smartphones and account for 37 percent of all funded auto loans,” said Landy, who is chief executive officer of SpringboardAuto.com.

“In general, borrowers, especially those with less than perfect credit, are incredibly dissatisfied with the opaque and frustrating car-financing process. Our mission is to change that.”

Holmes also reiterated how the site is geared to benefit its users

“Our goal is not to simply digitize the same old process; instead, our platform, which is fully mobile optimized, will speed it up by reducing redundant data and endless document requests — all while minimizing potential impact on an applicant’s credit score,” said Holmes, chief marketing officer of SpringboardAuto.com.

“And, ultimately, the entire process will happen easily and efficiently — from loan, to trade-in, to final purchase — for both private party and dealer purchase,” Holmes went on to say.