DriveTime vs Upgrade

DriveTime Automotive Group Inc., founded in 2002 and headquartered in Tempe, Arizona, is a prominent player in the used car retail and financing industry. Initially known as Ugly Duckling, the company rebranded to DriveTime to better reflect their focus on providing accessible vehicle options for customers with subprime credit. With over 145 dealerships across the United States, DriveTime has sold more than 1.5 million vehicles, emphasizing a no-haggle pricing model and a robust online financing process that allows customers to secure terms tailored to their credit profiles. Unique features include a 5-Day Return Guarantee and a 30-Day/1,500 Mile Limited Warranty, enhancing customer confidence in their purchases. DriveTime's commitment to customer service is evident through their extensive inventory of over 10,000 vehicles and dedicated sales advisors who guide buyers through the financing process. Customer feedback highlights DriveTime's innovative approach and supportive environment, positioning it as a leader in helping those with financial challenges find reliable transportation. The company also boasts industry credentials through their subsidiaries like Bridgecrest, which provides auto loan servicing and ancillary products, further solidifying their presence in the automotive finance sector.

Upgrade, founded in 2016 and headquartered in San Francisco, is a fintech company specializing in personal loans, credit cards, and auto financing solutions, including refinancing options designed to lower monthly payments and save on interest costs. With a user-friendly online platform, they facilitate a seamless application process, often providing approvals within 24 hours and funding shortly after. Their services extend to both individual customers and auto dealerships, thanks to extensive partnerships with many financial institutions. Their customers benefit from features such as a soft credit pull for rate checks, fixed fees, and no origination fees, enhancing transparency and reducing costs. They also offer competitive loan terms, with options up to 84 months and the ability to pre-qualify without impacting credit scores. Their commitment to customer service is reflected in their A+ rating from the Better Business Bureau and accolades from industry leaders. Read our review to have a full-on breakdown of Upgrade and their services in detail.