Introducing Carputty

As a partner of Craft Bank, I'm thrilled to have the opportunity to introduce Carputty to the Bank's customers and other partners. I co-founded Carputty four years ago after 30 years in the automotive industry as a dealer principal of a regional automotive group. We started Carputty to provide car owners with greater choice and flexibility when it comes to financing their vehicles – often the second most valuable asset in any given household. To do this, we created the Flexline™, an automotive line of credit that gives individuals up to $250K to finance multiple vehicles. We also recognize that many small businesses rely on vehicles as a key strategic asset and have created a Business Flexline that provides up to $800K in credit.

Flexline™ is the smarter, simpler way to finance all the vehicles you’ll ever own.

Craft Bank and Carputty share a common goal: to make our customers' financial lives easier. With Flexline, whether you’re an individual or a small business owner, just one easy application gets you lifetime access to a line of automotive credit that can be used to finance every vehicle you’ll ever own. 

We’ve developed Flexline to provide the flexibility of a credit card, the power of cash, and the insights to make better buying and selling decisions.

There are 3 key innovations we’ve designed into the Flexline: 

1. Finance Multiple Vehicles: Flexline allows businesses and individuals to finance multiple vehicles, at once or over time. This saves time, avoids the hassle of separate loans for each vehicle, and gives you the negotiating power of a cash buyer. It is a game-changer for companies with small fleets or individuals with multiple vehicles in their garages.
2. One Transparent Rate: Our rates are simple, clear, and tied to you, not a particular vehicle on a particular lot. Your rate is based on SOFR (Standard Overnight Financing Rate) and a set margin based on your credit profile. Each month, you will see the rate that applies to any transaction you may look to conduct.  
3. Fund Virtually Any Transaction & Vehicle: That singular rate applies to any transaction, whether you are shopping for new or used vehicles, managing lease buyouts, or refinancing existing loans, the same rate applies. 

Once approved and opened, your Flexline remains available for as long as you need it. As long as it is active and your credit profile remains strong, the funds in your Flexline can be accessed to finance your vehicles, generation after generation. This eliminates the need for frequent reapplications, helping you avoid what is oftentimes the most painful step of the car buying experience. Just like a credit card, funds are accessible whenever and wherever needed.

V3 Valuation™ provides objective insight into when to buy, hold, or sell vehicles.

Complementing the Flexline, Carputty has also created innovative vehicle value tracking software—the V³ Valuation™ system. This system uses over a million industry data points from auctions, dealerships, and private sales to give you the most accurate and unbiased values for any late-model vehicle, allowing you to compare the relative value of different vehicles and track the current vehicles in your garage. With deeper insight into anticipated drops or increases in the market value of any given vehicle, you can start to manage your vehicles as valuable assets. For both individuals and businesses, this real-time information helps you to make more informed, data-driven decisions on the optimal times to buy, hold, or sell your auto “investments.”

Auto Financing, Reinvented with Carputty

At Carputty, we’ve always believed in making auto financing straightforward and accessible, which is why partnering with Craft Bank feels like such a natural fit. Just like Craft Bank, we’re all about innovation and simplifying life’s financial decisions. Flexline is our way of bringing that same ease and flexibility to the car ownership experience, whether you're running a business with a small fleet or looking to better manage the vehicles in your garage. It’s about giving you the tools to make smart, confident decisions, and I’m excited to share this with Craft Bank’s community. 

Thanks for welcoming us into your network—we're proud to offer Craft Bank customers a powerful and insightful resource to simplify their financial lives and make car ownership simple and pleasurable. Learn more about Carputty.