DETROIT -

BoostUp.com — a free social savings website that can help consumers raise money toward a major purchase like a vehicle — recently formed a new partnership with Penske Automotive Group. 

Officials highlighted select Penske dealerships will now provide a discount — what the site calls a BOOST — of up to $500 to all BoostUp.com savers.

Here’s how the site is intended to operate.

BoostUp users can create an account to save their own money through automated bank deposits or payroll deductions and raise money from family and friends for birthdays, holidays, graduation or any gift giving occasion.  Partners such as Penske then can offer BoostUp savers a dollar for dollar matching incentive toward the purchase of their product or service. 

BoostUp founder and chief executive officer John Morgan explained the complementary nature of the partnership will allow both Penske and BoostUp to reach their common goal of helping people afford and purchase the vehicle of their dreams.

Morgan noted Penske’s 177 U.S. retail automotive franchises, 35 brands represented, strong reputation and global presence combined with BoostUp’s growing, revolutionary savings platform are what drew both companies together. 

“We are elated about working with Penske Automotive Group.” Morgan said. “This partnership solidifies the important mission of BoostUp, which is to help consumers reach their goals.  This is a major added benefit for BoostUp car buyers.”