“You from Jersey?” If so, buying a car in your home state just got a lot easier.
AutoGravity, the Best of Show winning fintech that has pioneered car shopping and financing by smartphone, is now an option for auto loan borrowers in New Jersey. Via digitization and an engaging, smartphone-based user experience, AutoGravity’s solution is “transforming how people buy and lease cars by decreasing the financing time from hours to minutes for car shoppers,” according to CEO Andy Hinrichs.
With more than 400,000 downloads since its launch last summer, AutoGravity provides car shoppers with up to four financing offers on new and used cars from thousands of dealerships. The four-step process – choose a car, find a dealer, search for financing, select a lender – leverages AutoGravity’s unique partnerships with banks, lenders, and dealerships to provide users with a “single, convenient digital marketplace,” Hinrichs said. Available on iOS and Android, as well as online, AutoGravity is free to download and use, and is now available in 49 states in the U.S. (Nevada is the exception).
Founded in 2015 and headquartered in Irvine, California, AutoGravity demonstrated its car shopping app at FinovateFall 2016, winning Best of Show. AutoGravity also presented “A Digital Marketplace for the Auto Financing Space” at our developers conference, FinDEVr Silicon Valley 2016 last fall. The company has raised $50 million in funding, and includes Daimler Financial Services among its investors. Winner of the 2017 North American Frost & Sullivan Entrepreneurial Company of the Year award, AutoGravity added to its financing options earlier this year courtesy of a partnership with Westlake Financial Services in February and another with First Investors Financial Services in January. Read our Finovate Debut profile on AutoGravity featuring an interview with company CMO, Serge Vartanov.
