“Alignment between car shopper and car dealer motivation"

“Alignment between car shopper and car dealer motivation”

Citing the strong “alignment between car shopper and car dealer motivation”, Global Lending Services has forged a partnership with auto financing specialist AutoGravity, reports David Penn at Finovate (Banking Technology‘s sister company).

The partnership will enable the auto finance company, based out of South Carolina, to make financing offers through AutoGravity’s platform.

Bill Nemecek, Global Lending Services SVP of marketing and sales, says the partnership with AutoGravity will help the firm reach prospective car buyers who increasingly “look to technology to provide easier and convenient car purchasing options”. He adds that the solution would also help car dealers, who want to both streamline the auto buying process as well as get cars into the hands of customers faster.

AutoGravity leverages smartphone technology to make buying and financing a car faster, easier and more transparent. The company partners with leading banks and financial services companies to give auto shoppers control over their financing options and access to a nationwide network of trusted car dealerships.

“Every month, over 100,000 new users download the AutoGravity app so they can buy and finance their next car with smartphone simplicity,” AutoGravity founder and CEO Andy Hinrichs says. “Our partnership with Global Lending Services helps ensure that car buyers across the nation have access to multiple finance offers in minutes, anytime and anywhere they want.”

AutoGravity was founded in 2015 and is headquartered in Irvine, California. The company has enjoyed a busy and productive 2017, beginning the year with a “multi-million Euro” investment from Daimler Financial Services, and picking up further investment capital from VW Credit in July.

It teamed up with Fletcher Jones Auto Group in June and forged a partnership with Hyundai Capital America in September, the same month the company announced surpassing $1 billion in financing requested via its platform.