MONEYME expands Autopay to private car sales market
MONEYME expands its secured car loan product Autopay for private sales
Private sales make up more than 50% of used car sales in Australia.
Autopay is MONEYME’s largest product, accounting for 59% of its $1.6bn loan book in FY25.
The launch is expected to boost MONEYME’s growth trajectory, with total originations up 54% and Autopay originations up 47% in FY25.
Sydney, Australia, 21st October - MONEYME has expanded its Autopay secured car loan product to include private sales, tapping into a major growth opportunity that accounts for more than half of all used car transactions in Australia.
The launch extends Autopay’s reach beyond dealer sales, enabling brokers to offer the same fast, digital finance experience to customers purchasing vehicles from private sellers.
The move is expected to drive further originations growth, following a 54% uplift in loan originations in FY25, and strengthen MONEYME’s position in secured car lending, which already represents over half of its $1.6 billion loan book.
“The expansion of Autopay into the private sales market is an exciting next step in our strategy to diversify lending channels and leverage our technology advantage for growth.” said Jonathan Wu, MONEYME’s Chief Operations Officer and Chief Product Officer.
Recent advancements in MONEYME’s digital verification and automation capabilities have made it possible to manage private-sale risks such as seller validation and vehicle checks while maintaining the speed and simplicity Autopay is known for.
“We’ve removed much of the manual work typically involved in private sale deals, with loan approval and settlement possible in minutes. It’s another example of how we’re using technology to simplify complex processes and deliver better outcomes for brokers and their customers,” Wu said.
With strong demand for used cars and consumers increasingly seeking flexible, digital-first finance options, MONEYME’s technology-led experience sets a new benchmark in private sales financing.
“MONEYME Autopay is by far the easiest platform to use for private sales, much easier than the competition. No one comes close to how smooth and simple the process is,” said Cameron Barlow, Broker at Infinity Asset Finance, who took part in the product pilot.
“The customer needed finance finalised the same day to collect the car and doubted it could happen that quickly. They were pleasantly surprised and genuinely impressed by how the loan was settled within just a few hours.”
About MONEYME
MONEYME is an ASX-listed digital consumer lender and Certified B Corporation™. We challenge outdated lending practices and simplify the borrowing experience with smart technology. Our innovative car loans, personal loans, and credit cards are designed to save our customers’ time, with near-instant credit decisions and loans that settle in minutes. We proudly serve Australians who demand more from the companies they engage with and hold ourselves to the high standards of the B Corp movement.
MONEYME Limited is listed on the ASX, and the Group includes licensed and regulated credit and financial services providers operating in Australia.
