DriveScore, a UK app that uses telematics to track how users drive to help them save on insurance, is moving into car finance.
The firm is offering deals discounted for good drivers, with loans provided by Zopa Bank, Admiral, AA Car Finance, and My Car Credit. It claims a typical borrower with a good driving score will secure discounts of £170.
DriveScore works with Cambridge Mobile Telematics to track how users behave on the road, giving them a rating out of 1000. Users can choose to share this score with DriveScore’s panel of insurers, to receive discounted premiums.
Today’s launch extends those benefits to include car finance thanks to DriveScore's relationship with sister brand ClearScore, a credit scoring and report provider.
Andrew Hooks, MD, DriveScore, says: “At a time when our users are actively searching for better deals to save money, we are bringing a completely new concept to market - namely that being a safer driver can save you money on your car finance as well as on your car insurance."