Carnomaly is changing the future for car finance in the automotive marketplace with its new decentralized blockchain system, making financing for poor credit a possibility. The company’s decentralized finance (DeFi) loans offer users the opportunity to buy and sell loans and assets without relying on a bank.
The company has created a system that combines the age-old automotive lending industry with the modern world of cryptocurrency exchanges. “Our decentralized finance system, CarrDefi, connects real-time lenders to real-time borrowers,” explains the senior spokesperson for the company. “Users can securely connect with borrowers and lenders through funding pools created by our team of financial experts.”
Each funding pool is secured in a blockchain with a public history that users can verify. This gives purchasers control of financial assets, making peer-to-peer transactions easy for everyone.
The following list highlights the advantages of using the CarrDefi system:
- Forego traditional banks and lending institutions to secure an auto loan.
- Borrow money using blockchain-secure loans for future vehicle purchases.
- Earn high interest on your money by contributing to a funding pool, optimized by the Carnomaly underwriting team to minimize risk while maximizing earning potential.
- Fund loans with CARR Tokens to earn the highest rate of return.
- Assets are kept secure in a blockchain database.
Car finance flexibility with Defi
“CarrDefi offers credit-based and anonymous lending solutions to provide greater financing flexibility. Members can use their loans to buy and sell vehicles on the Carnomaly marketplace. And with regular loan payments, users will be able to move into higher membership tiers, earning more benefits. Most importantly, CarrDefi integrates with our other solutions to offer a seamless car ownership experience,” the spokesperson adds.
Powered by algorithms from open-source code, the company’s loans are funded by direct supply and demand. “Becoming a real-time lender is easy,” says Carnomaly. “Simply choose the funding pool or pools based on risk and return rate that fit your needs.” Once the funding pool is closed out, it will be lent to borrowers, and lenders will begin receiving monthly returns. The company offers lenders guaranteed income on their crypto assets, company-managed lending from the first investment to the final payout, digital financing experts who continually review and prevent value loss from coin value fluctuations, and an opportunity to participate in the future of financial services.
There are no third parties and all funding pools are asset-backed. In the event of a payment default by the borrowers, Carnomaly handles the repossession and auction of the vehicles. This is true cradle-to-grave DEFI lending and car finance!