OnePay Launches My Garage to Track $24,500 Car Values, Loans and Insurance

1 articles · Updated · USA TODAY · Sep 2

OnePay rolled out My Garage as a free in-app feature that lets users enter a vehicle’s year, make, model, trim and mileage to see estimated value, loan balance and payoff timeline in one place.
A sample Mazda CX-5 showed a value of up to $24,500, $7,150 left on the loan and 18 months to payoff; balances can update automatically if users enroll in OnePay’s credit monitoring.
The launch targets a common pain point in auto finance: Edmunds said nearly 30% of new-car trade-ins were underwater in the second quarter, with owners owing almost $7,000 more than their cars were worth.
My Garage also lets users compare insurance, track policy renewals and find gas discounts; OnePay says switchers save about $1,000 on insurance on average, while one demo station offered 46 cents a gallon back.
OnePay plans to add refinance recommendations and eventually connect valuations to real offers from buyers like CarMax or Carvana, as it tries to keep users inside one financial app.