On Tuesday, Black Book announced an agreement to power vehicle trade appraisal for AutoGravity, a mobile auto financing tool that recently surpassed 200,000 downloads of its native iOS and Android smartphone apps.
The Internet is increasing in prominence for every part of the vehicle-buying process. A recent survey from eBay Motors found that 87 percent of vehicle shoppers used the Internet in some way in the past six months when buying a vehicle. AutoGravity caters to these shoppers by offering a one-stop-shop where customers can find their desired vehicle and dealer, value their trade and secure their financing — all on their smartphone.
The AutoGravity platform allows shoppers in 46 states to obtain up to four finance offers on any make, model and trim of new or used vehicle by following four steps. The app can return personalized retail installment contract and lease offers within minutes.
Black Book asserted that many dealers feel the trade appraisal portion of that process is responsible for sealing the deal in most sales opportunities. Customers now can obtain some of the most transparent and accurate trade appraisals with up-to-date vehicle valuation data powered by Black Book.
With more than 300 years of combined experience, as well as an editorial and analytics team monitoring daily auctions throughout the country, Black Book is offering AutoGravity and its customers access to timely and accurate valuation data.
“We’re pleased to bring AutoGravity our legacy of vehicle valuation data, combined with an analytics approach that enables the most accurate trade appraisals possible,” Black Book senior vice president of sales Jared Kalfus said in a news release.
“Online car financing and shopping will only grow more significant in the future, and a platform such as AutoGravity caters to the way consumers want to shop for cars and trucks.”
AutoGravity launched its app in California last year. Since that point, the company highlighted it has developed relationships with finance companies up and down the credit spectrum so it can cater to all consumers.
“AutoGravity serves a growing generation of digitally savvy car shoppers that seek convenience and control through their smartphones,” said Andy Hinrichs, founder and chief executive officer of AutoGravity.
“The ability to offer our customers the most accurate and transparent trade appraisals from Black Book is a critical part of our turnkey approach to the mobile car shopping and financing experience,” Hinrichs added in the news release.
AutoGravity is available for download from the Apple App Store and Google Play Store. AutoGravity is also available as a mobile-responsive web platform at . The app guides shoppers through an intuitive four step process:
1. Select any make, model and trim of new or used vehicle available in the United States.
2. Select any dealership from AutoGravity's proprietary national database; the platform automatically pinpoints your location and shows you the closest dealers selling the vehicle.
3. Search for financing for your selected vehicle, right on your smartphone. You can value your trade, scan your driver's license and connect to social media to quickly pre-fill your finance application.
4. Receive up to four finance offers within minutes. Simply select the loan or lease offer that’s right for you and head to the dealership to complete your purchase with peace of mind.