Getting Started

Getting Started

Learn more about how Carputty works

What is the Putty Payback?

When you make your first 3 payments on time, we will take the interest that you have paid and apply it to reduce your principal. No one else does this for their customers, a lender that finally pays you back.

Do you have any fees?

When you add a car to your line we charge 1% of the financed amount that is then added to your total amount. We do not charge any other fees and you only pay what your state or local government are requiring for title and other transfers. When you remove the car off your line we add a final 1% of the final amount to the payoff if there is a balance due.

Do you pull my credit?

There are two type of credit pulls: soft credit pull and hard credit pull.

Soft credit pull: do not impact your credit scores because they aren't attached to a specific application for credit.

Hard credit pull:  will stay on your credit report for two years, but their impact on your credit scores is typically minimal and will only last a few months. In general, hard inquiries only play a minor role in your score and fear of a hard inquiry shouldn't keep you from applying for credit when you need to open a new account.

During the application process there is one soft pull to determine pre-approval. We only perform one hard pull when we finalize your line of credit. The hard pull happens no matter how many vehicles you attempt to add to your open and active line. After activating your Line of Credit, we may perform a soft credit pull every 45 days to monitor your credit.

What are your rates?

Unlike dealerships, Carputty never marks up rates. What you see is exactly the rate you’re qualified for. Your rate is based on your ability to repay along with your credit history, not someones commission.

What are your eligibility requirements?

With regards to eligibility:

You must be 18 years old or otherwise have the ability to legally contract for vehicle financing in your state of residence, and either a U.S. citizen or resident alien (permanent or non-permanent) with proof of status.  You must be employed and live in a state where Carputty offers Credit Accounts.

When adding vehicles as collateral, the following types of vehicles are not eligible for financing :

  1. Vehicles older than 8 calendar years
  2. Vehicles with 85,000 miles or more
  3. Vehicles not manufactured by U.S. Approved, licensed Original Equipment Manufacturers (“OEM”s)
  4. Vehicles used for commercial and/or business purposes
  5. Commercial vehicles
  6. Vehicles with salvaged or branded titles
  7. Gray market or lemon law vehicles and/or business purposes
  8. Motorcycles, recreation vehicles (RV), aircraft or watercraft

How do I open a free account?

Let's open your Carputty account!

  1. Create an account at app.carputty.com/signup.
  2. You’ll receive an email confirming your account has been approved.
  3. If you live in select states, you will be able to apply for your Line of Credit.
  4. Check your car's valuation for free.

What is Carputty?

Carputty is a completely new way to think about financing and owning a car. Our flexible line-of-credit is designed to seamlessly cover one or all of the vehicles in your garage, and our predictive valuation tool keeps you in touch with your car’s value today and tomorrow.

You can use your Carputty account to apply for a line of credit, track your car’s valuation, and see what’s for sale by searching multiple platforms (coming soon).