DriveItAway is continuing to forge partnerships to help dealerships turn vehicles while giving consumers the opportunity to secure transportation and rebuild their credit.

Via a news release distributed Tuesday, the provider of subscription to ownership technology that can enable anyone, regardless of down payment or credit score, a transparent risk-free digital process to buy a used vehicle, announced its partnership with the newly launched fintech platform CredEvolv.

The DriveItAway partnership with CredEvolv grew out of the longstanding relationship the company has with Get Credit Healthy and its founder Elizabeth Karwowski, a company recently acquired by CredEvolv.

“The mission of DriveItAway has always been to eliminate the friction, for dealers and consumers, to enable more people to first drive, and then buy, their used vehicle of choice, regardless of credit score or immediate down payment availability,” DriveItAway chief executive officer John Possumato said in the news release.

“Now, with our partnership with the new CredEvolv platform, we can help our customers accomplish broader lifelong goals of achieving and maintaining good credit for sustainable financial success,” Possumato continued.

The enhanced CredEvolv platform features an expanded, comprehensive technology, leveraging consumer permissioned data, proprietary analytics, and personalized credit coaching to guide the journey to credit well-being. 

CredEvolv offers end-to-end credit education and remediation support for consumers, while also helping finance companies and servicers retain more clients and drive significant incremental revenue.

CredEvolv’s proprietary technology platform can help finance comapnies and servicers connect borrowers with HUD-certified non-profit counseling agencies to provide complete financial well-being for consumers, including credit remediation and education, as well as debt management services.

CredEvolv’s cloud-based platform also has the ability to scale to millions of transactions, while still providing a customized experience for users.

“More than half of Americans have been turned down for a car loan, credit card, or other loan. Not only does this create stress, it can hold people back from opportunities. DriveItAway is a natural partnership for CredEvolv given our aligned missions,” CredEvolv co-founder and chief executive officer Jeff Walker said in the news release. “CredEvolv was created to bridge the gap of no or low credit and offer a solution that not only puts consumers on a path to qualify for the initial loan they’re seeking but sets them up for life-long credit health.”

CredEvolv co-founder and president Steve Romano then added, “Driving better outcomes for consumers doesn’t have to be complicated or confusing. Our shared mission with DriveItAway will help empower and enable consumers to fulfill their goal of owning a car.

“At CredEvolv, we’re marrying state-of-the-art financial technology with social responsibility to reduce the psychological and financial burden millions of individuals face and make it simple for them to get on a path to financial wellness, while also creating increased value and ROI for our partners,” Romano went on to say.

DriveItAway explained that its “Try It Before You Buy It, Pay as You Go” turnkey platform for dealers may be the only way for those individuals who are struggling to gather a down payment or who are credit challenged to purchase the used vehicle of their choice.

The company said every subscription payment accumulates toward the down payment at a prearranged purchase price established at the beginning of the process. 

“The platform appeals to all potential used car buyers, who would like to try a used car out for an unlimited period of time, before making any purchase commitment,” DriveItAway said about its platform before adding that it “de-risks” a used-vehicle purchase for all buyers “in a way never achieved by any online or traditional automotive retailer. Pick your used car off the lot and drive it, until and if you decide to buy it, with the money paid in for your subscription applied to the prearranged purchase price.”

For more information, call DriveItAway at (203) 491-4283 or send an email to info@driveitaway.com.