Wisr Limited has confirmed the launch of a secured vehicle finance product, a move foreshadowed by Banking Day last week.
The entry into vehicle finance follows a pilot program run by Wisr in FY20. The company said its Wisr Warehouse will support the growth of this product, allowing the product to deliver revenue from launch.
These new car finance loans will range from A$5,000 to $60,000 with three, five and seven-year terms.
Wisr CEO Anthony Nantes said his team was expanding the company’s product mix to attract more prime credit quality customers.
“As others retreat from the automotive finance market, we’re seizing opportunity as a disruptive new entrant, levering our experience and capability to underwrite personal loans," Nantes claimed in an ASX release.