MCLEAN, Va. — AutoGravity, a new financial technology company, is aiming to simplify the financing process by allowing customers to apply for financing straight from their phone.
According to the company, its platform is available as a smartphone application and mobile-responsive website that breaks the financing process into four steps. The first step is choosing a car. From there, the customer chooses a dealer, then applies for financing and lastly selects one of the multiple lenders that will deliver a personalized financing offer. The process, according to the company, should only take minutes.
"AutoGravity harnesses the full potential of cutting-edge smartphone technology," said Andy Hinrichs, founder and CEO of AutoGravity. "Our app allows customers to take advantage of in-phone GPS, camera-based optical character recognition, fingerprint log-in and other mobile technology to be empowered by a digital car finance experience."
The company further stated that its platform is not only beneficial to customers, but also to lenders and car dealers. Lenders on the platform, the company stated, gain increased access to customers —particularly Millennials. Car dealers gain increased showroom traffic, qualified leads and boosts to overall customer satisfaction, according to the company.