Savings Clubs: Knowing What's What
Avatar photo Written by Ashton Dobbins

2 min read • Published February 28, 23

Vehicle accessibility is waning as all-time high car payments dominate most of the market. The fed is raising interest meaning car payments are only getting more expensive. There’s never been a better time to explore alternative car financnig options. There also never has been a better option than


What is a savings club?

Much like a ROSCA, a savings club is an alternative method of loaning money. Instead of getting money from the bank as a resource, member savings allow individuals to alternate borrowing from each other. comes in to make sure everything goes smoothly. Our contracts add on a small administration fee so that we can ensure that the process goes smoothly. We monitor each group to ensure everyone can benefit from affordable car financing through savings.

In the U.S., this kind of financing is not well-known or established. The success around the world is an indicator of how this revolutionary option could revitalize the auto-financing industry in America.


How is a savings club different than traditional financing?

With traditional financing, borrowers deal with the bank’s terms. Interest rates are high, so car payments are tougher than ever to pay. Forbes reports on a Bankrate study claiming car financing can come at “a very attainable [loan] rate [of 6-7%]. But if you have marginal or weak credit it’s a different ballgame. The credit will be tighter and rates considerably higher.” The article also says many people end up paying loans with rates between 8 and 12% due to dmenad for more expensive vehicles during a historic industry shortage.

The hard truth is that many Americans struggle with debt. Experian states that the national average credit score as of 2022 was 714. This is technically a good, score, but it’s nowhere near great or perfect. This means many won’t qualify for the better rates, forcing them to take on pricy loans if they want a car.

With a savings club, credit can help but will never harm you. With specifically, anyone can be approved to join. The club can help establish a strong credit payment history, and encourage healthy spending habits. Since no one borrows from the bank, the rates don’t need to be nearly as high. never charges rates above 9.9%. We offer the most-affordable financing option through savings.

How much can you save?

With a savings club’s support, anyone can access affordable vehicle financing. Low administration fees that replace interest can save car buyers thousands of dollars. This means you can start building equity for the car you want quicker. If “thousands of dollars” isn’t enough, check out our other article about the average savings members benefit from.

Ashton Dobbins


As’s copywriter, Ash takes on various B2B and B2C communication tasks. He went to school for illustration at SCAD. There, he developed a passion for writing and effective storytelling. Ash is fond of journalism and reporting on the facts. He’s interested in new and groundbreaking ideas, especially ones that challenge the norm. Ash still loves to create art outside of work. His cartoons and writing have even been featured in The New Yorker!