We started Suretys because our founder Josh, a millennial himself, faced the cosigning conundrum. He set his eye on a car he wanted but was told, “We’d love to lease the car to you. You’ve got enough income but lack the credit score our lender needs.” And then he heard those four dreaded words "You'll need a cosigner." That gave him the idea for Suretys: helping people with limited credit history (sometimes known as "thin-files") and a solid financial history to buy or lease cars themselves.
Credit scores like FICO or those from the credit reporting agencies often exclude good people like Josh from buying or leasing cars on their own and forced them to get cosigners—and often a cosigner can’t be found.
Without cosigners, too many first-time buyers end up purchasing less expensive, older, less reliable used cars that usually need ongoing or costly repairs. That must change. We’ll be in our cars more—and more dependent on them for our safety in the coronavirus era.
To score risk and approve customers without relying exclusively on credit history, Suretys created algorithms using AI and machine learning. It’s a completely different, fairer way because it’s based on the customer, their money, and their spending. Not what some agency thinks about their use of credit.
Now having uniquely solved the cosigner conundrum for leasing, Suretys continues to release new, breakthrough products. We now cover new and used auto loans and offer a very mobile-friendly pre-approval product. Pre-approved applicants learn the maximum payment they can afford and can shop more wisely. After deciding on the car or truck to lease or buy, it takes just a minute to convert the pre-approval into a signature-ready policy application.
Suretys core management team bring years of experience in IT, finance, marketing, insurance, and sales. We have held very senior roles in large, name brand global companies, and have built or sold companies. Above all, we’re committed to making auto finance app-easy for first-time buyers, sellers, and lenders. Our goals are to help our customers get the car they want at a rate they deserve, and for dealers and lenders to benefit through higher sales, more loans, and greater profitability.