- AutoGravity has added Audi Financial Services to its network
- The company is trying to streamline the car-buying-and-leasing process.
AutoGravity, a California-based car-financing startup founded in 2015, has been growing a nice clip.
On Tuesday, it announced that it had added Audi Financial Services to its online lending-and-leasing platform.
“AutoGravity brings the car financing experience into the digital age – where today’s consumer wants to find it: in the palm of their hand,” CEO Andy Hinrichs said in a statement.
“Through our partnership with Audi Financial Services, we’re able to serve this rising generation of Audi enthusiasts with mobile access to unparalleled lease and finance options, helping them close the deal with confidence.”
Autogravity is trying to address a critical pain point for consumers while also making auto loans and leasing more transparent.
Traditionally, buyers have visited a dealership and either prepared their financing in advance or done it on site. The process can be intimidating, and many consumers think it’s out of step with a time when everyone can have access to information through digital devices.
AutoGravity essentially acts as a facilitator of transactions, presenting prospective buyers or those who want to lease with offers from banks and automakers’ lending arms. The company makes its money by taking a cut of an eventual deal.
The addition of Audi makes sense given AutoGravity’s pitch to younger car buyers. Of the major luxury brands, Audi has gained ground by appealing to customers outside the familiar Mercedes-BMW-Lexus trio.