On Tuesday, it said it will start refinancing car loans at interest rates that could save the average borrower $1,350 over the term of their debt. To do so, LendingClub will draw on its experience finding potential customers and efficiently underwriting them to deliver instant offers online. “People think a lot about refinancing their mortgage, but they don’t think much about refinancing their vehicle,” LendingClub Chief Executive Officer Scott Sanborn said in a phone interview. His company’s pitch: “We know you’ve got a loan, and it’s not a very good loan. Let us show you what we can save you.”

http://www.bloomberg.com/news/articles/2016-10-25/lendingclub-s-new-pitch-refinance-your-pricey-car-loan-with-us