.png?width=652&height=549&name=image%202%20(2).png "Image of Jamel Masoud")
"If it's not going to our captive, I want it sent to Upstart."
– Jamel Masoud, GSM
Upstart Auto Finance is Motor Cars Mitsubishi’s first-look lender for nearly all non-captive financing, enabling the store to serve its broad range of clientele from first-time, thin-file car shoppers to super-prime buyers. GSM Jamel Masoud attributes this to higher approvals and more flexible terms for its customers from Upstart compared to their other lenders, along with higher profitability with back-end for Upstart loans averaging $2,104 and dealer reserve averaging $1,654. By offering borrowers more extended terms and better approvals on higher mileage or aged inventory, Motor Cars Mitsubishi is enabled to approve more buyers across the credit spectrum and provide a much smoother, faster financing experience for all.
More room to structure profitable deals for all types of buyers
Masoud was first drawn to Upstart’s more flexible LTVs and ability to book out vehicles using Black Book retail values, giving the store more room to structure profitable deals. He explained that since Upstart extends terms up to 84 months, this is especially valuable in a market where customers are struggling with affordability.
Additionally, he describes higher approvals with Upstart and “more aggressive” rates compared to the rest of his lender mix, especially for first-time, thin-file customers. When a credit application gets challenged, Jamel says other lenders typically ask for more money down or a different vehicle.
“When a customer gets challenged on credit, other lenders need more down or require us to change to a different vehicle. We get it done with Upstart, and there’s more back-end opportunity too, selling about 4 products on average per deal. The reserve is also amazing,” he said.
A better used car business
With Upstart’s higher approval rates, higher back-end and more competitive rates, the dealership has changed the mix of vehicles they buy at auction. With Upstart’s comprehensive program and flexible deal structures, the store has started acquiring vehicles more than 10 years old and stocking inventory ranging from 7–8 years old. “We started buying vehicles other lenders don’t like, anything over 10 years old, especially if the customer is super-prime,” Masoud said.
Additionally, Masoud shared that there are “significantly fewer stips” with Upstart compared to other lenders, improving the buying experience for its customers and keeping them coming back, even from out of state, for their second and third vehicle.
The bottom line
By making Upstart first look for everything outside the captive lane, Motor Cars Mitsubishi has expanded what it can approve and finance, from thin-file, first-time buyers to super-prime buyers in aged, high-mileage inventory, while redistributing share from several other lenders to Upstart due to deal structure flexibility and back-end profitability.
Results at a glance - August 2026
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