AutoGravity highlighted another milestone on Tuesday.
The FinTech platform that leverages mobile technology to allow consumers to apply for financing said it surpassed $2 billion requested financing in 2017.
Launched in 2016, AutoGravity rapidly expanded from 100,000 users in its first six months to more than 1.3 million users, most of whom are convenience-seeking millennials — a digital generation that demands convenience and control in the palm of their hand.
“With more than $2 billion in finance amount requested in 2017, AutoGravity is at the forefront of digitizing the car-buying and financing experience,” AutoGravity chief executive officer Andy Hinrichs said.
“AutoGravity technology makes it possible for car buyers to access any showroom right from their smartphone, take control with personalized payments on any car in minutes — close the deal — and drive off the lot with confidence,” Hinrichs continued.
By providing users with the tools they need to find and finance any vehicle in minutes, AutoGravity insisted that its platform meets the growing market demand for digital retailing and transparency in auto financing.
Featuring real-time inventory, the AutoGravity app can streamline the vehicle-buying process by showing users exactly which dealerships carry the cars they want. Users can access personalized financing offers from the same indirect finance companies used by the dealer; so, they know their monthly payment.
All that’s left is whether to have the vehicle delivered, or pick it up from the dealership.
AutoGravity has built partnerships with many of the largest banks and financial institutions in the world, including key captives such as Mercedes-Benz Financial Services, Audi Financial Services, Volkswagen Credit and Hyundai Capital America.
Additionally, AutoGravity has partnered with the top five dealer groups in the U.S., building a network of more than 2,000 dealers.
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