DriveScore to Assist Safe Drivers with Obtaining Affordable Auto Finance Deals

DriveScore, an app that utilizes telematics technology to reward good drivers with discounted car insurance, has launched what it claims is the first car finance deals service that offer discounts for “safe” drivers.

This approach enables drivers to leverage their personalized driving data to secure better deals on car finance, in addition to car insurance.

The app, which has partnered with Zopa Bank, Admiral, AA Car Finance, and My Car Credit, offers discounts of up to £170 for borrowers with a good driving score.

DriveScore’s tech, powered by Cambridge Mobile Telematics, provides users with a driving score based on their behavior behind the wheel.

A score of 750 or above suggests good driving habits, making people eligible for discounted insurance premiums and now, car finance deals. However, there does not seem to be any clarity regarding why there would be such a correlation based on available information.

According to DriveScore’s analysis, good drivers are a lot less likely (in terms of overall statistical data) to default on their repayment plans across credit cards, loans, as well as auto finance options.

This data-enhanced approach enables lenders to accurately and reliably price quotes, driving profitable new customer acquisition.

By empowering drivers to take more control of their personalized driving data, DriveScore claims that it is creating a more inclusive as well as rewarding experience for safe drivers.

This approach not only aims to benefit automobile drivers but also lenders, who can now more accurately assess risk and then proceed to offer more competitive and suitable pricing.

The reported success of DriveScore, with over 750,000 downloads and two billion miles of driving logged, demonstrates the demand for data-powered digital financial services.

As the app continues to expand its offerings, it’s likely to improve the way we think about car finance and insurance.

DriveScore’s launch of discounted car finance deals for good drivers marks a key milestone in the evolution of data-driven financial services.

By leveraging the power of the latest telematics tech, DriveScore is creating a more inclusive, rewarding, and competitive market for drivers as well as lenders.

Notably, DriveScore claims that its product is among the first automobile finance deals discounted for good drivers.

The app utilizes telematics tech in order to provide users with a driving score, enabling them to secure better deals on car finance and insurance.

DriveScore’s analysis shows that good drivers are statistically less likely to default on repayments, making them potentially more attractive to prospective lenders.

The app’s innovative approach aims to empower drivers to take control of their personalized driving data, creating a more inclusive and rewarding experience.

Andrew Hooks, Managing Director at DriveScore, said:

“At a time when our users are actively searching for better deals to save money, we are bringing a completely new concept to market – namely that being a safer driver can save you money on your car finance as well as on your car insurance. This is about empowering people to leverage their personalized driving data to bring tangible financial benefits.”



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