Business
Today, Leafy hosts sit down with Nicholas Hinrichsen, Co-Founder of Clutch, a company that is uniquely qualified to refinance car loans. You may have heard Nicholas’s TedX Talk about his experience as a professional golfer on the German National Team. Nicholas co-founded a company called Carlypso after graduating from Stanford Business School in 2013. He and his partner went through YCombinator (same startup accelerator as AirBnb, DoorDash, Stripe, Reddit etc) in 2014, raised a total of $10M in venture funding by 2015 and sold the business to Carvana.com in 2017. He then joined Carvana pre-IPO, went public at a $2.5bn valuation and is now worth $40bn. Carvana is the most valuable used car retailer in the U.S. After working with Carvana for 3 years, Nicholas left to start a digital auto loan refinancing platform. His new business, Clutch, is all around helping Americans with challenged credit and doing his part to address income inequality. Nicholas tells us if you have a credit score better than 700, going with a credit union, you will have a rate lower than 2%. If your credit is between 600-700, a traditional bank can loan you between 3%-15% interest on your loan. Below 600 credit score, a car loan can be up to 29%. Listen to the entire show to learn how to lower your car loan interest rate and get refunded on gap insurance, etc. To learn more about Nicholas Hinrichsen and Clutch, visit:https://www.withclutch.com/https://www.withclutch.com/auto-refinancehttps://www.withclutch.com/post/best-auto-loan-refinancing-lenders