OneLot helps family-owned Filipino used car dealers with AI-powered financingThere may be a large potential marked in used cars in the Philippines. It is home to one of the fastest-growing used car markets in the world today, with strong growth in car sales buoyed by rising income levels, greater demand from middle-income groups, and challenging availability of public transportation.
OneLot is a Philippine-based lending fintech company addresses the most pressing problem faced by used car dealers: the lack of access to affordable credit. They can be visited at www.onelot.ph or contactacted atOneLot’s loan products are geared towards the buy and sell cycles of car dealers, offering an unparalleled level of customer-centricity and flexibility. They handle loan applications and disburse capital in a matter of hours by leveraging an AI-enabled underwriting algorithm.
Phillip “Ipe” Borleo, owner of PMB Cars in Quezon City, was among OneLot’s first customers. “As a used car dealer, OneLot’s services have been a game changer. With their support, I am now buying and selling 7-8 additional cars each month. And the process of drawing down funds is incredibly fast—taking just a few hours,” Borleo shared.