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25

LendingClub’s New Pitch? Refinance Your Pricey Car Loan With Us

By Tony Seruga

Company seeks piece of $1 trillion U.S. auto-debt market
Move comes amid signs of stress in automobile lending

LendingClub Corp. developed a popular way to refinance credit-card debt online. Now, the company wants to take on auto loans.

On Tuesday, it said it will start refinancing car loans at interest rates that could save the average borrower $1,350 over the term of their debt. To do so, LendingClub will draw on its experience finding potential customers and efficiently underwriting them to deliver instant offers online…

LendingClub’s New Pitch? Refinance Your Pricey Car Loan With Us

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