AutoGravity Announces Partnership with Mercedes-Benz Financial Services

Partnership bolsters California public beta of first-of-its-kind auto financing app

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Oct 05, 2016, 01:04 ET

IRVINE, Calif., Oct. 5, 2016 /PRNewswire/ -- AutoGravity, a FinTech pioneer on a mission to transform car financing by harnessing the power of the smartphone, has partnered with Mercedes-Benz Financial Services USA LLC, bringing one of the leading captive lenders to the revolutionary auto financing app.

With Mercedes-Benz Financial Services fully integrated into the public beta release of the digital platform, car buyers using AutoGravity will experience a selection of loan and lease options when financing a new car on the AutoGravity iOS App, Android App or mobile-responsive Web App.

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AutoGravity - Auto Financing - How It Works

"AutoGravity was created to empower car buyers through their smartphones and give them access to a wide selection of auto finance options from the palm of their hands," said Andy Hinrichs, founder and CEO of AutoGravity. "The partnership with Mercedes-Benz Financial Services provides choice for our users and gives Mercedes-Benz access to a broader pool of new and existing digitally savvy customers. This is a prime example of how the AutoGravity platform benefits consumers, dealerships and lenders."

Founded in 2015 in Irvine, California, AutoGravity uses proprietary technology to introduce efficiency, transparency and the power of choice to the auto financing process. AutoGravity reinvents the car financing experience by bringing buyers, dealers and lenders together in a digital environment that can be accessed using any smartphone, tablet, laptop or desktop device.

The AutoGravity app is designed to allow car buyers to choose any new car make, model and trim, browse nearby dealerships that sell that car, apply for financing online with three easy steps and select from up to four resulting finance offers. Customers then take their offer to the dealership and complete the process of leasing or purchasing the vehicle they selected with personalized finance offers in the palm of their hand. The partnership gives AutoGravity users access to Mercedes-Benz Financial Services as a lending option when purchasing a Mercedes-Benz or smart vehicles, while offering the finance provider unprecedented pathway to the growing segment of smartphone-reliant customers.

"Our partnership with AutoGravity is valuable, because it enhances our positioning among the growing number of digital savvy consumers who rely on smartphone technology when making purchasing decisions," said Peter Zieringer, President and CEO of Mercedes-Benz Financial Services and Regional Head of Daimler Financial Services Americas.

Instant loan and lease offers from Mercedes-Benz Financial Services will now be included among the options available on AutoGravity's mobile and web apps. AutoGravity's unique digital experience — backed by the unparalleled technical expertise of its team — features state-of-the-art security and protection of customer personal information, ensured by advanced bank-level encryption. Expanding the convenience, speed and empowerment to new and existing MBFS' customers, AutoGravity's team of digital innovators is bolstering the gains across all segments of the auto financing market.

The AutoGravity app is available for Apple devices running iOS 8.4 or higher on the App Store, Android devices running Android 4.1 (Jelly Bean) or higher on the Google Play Store and all web devices at www.autogravity.com. Financing for vehicles purchased in other states – as well as additional app features, updates and accessibility options – are currently under development, and will be announced soon.

About AutoGravity

AutoGravity is a FinTech pioneer on a mission to transform car financing by harnessing the power of the smartphone. AutoGravity partners with the world's leading banks and financial services companies to give consumers direct control over how they finance their cars. Available as a native iOS, Android and web app, AutoGravity offers a secure and convenient platform that empowers customers with multiple finance offers within its network of trusted car dealerships. Based in Irvine, California, AutoGravity was founded in 2015 by an international team of digital natives and industry veterans. For more information on AutoGravity, please visit www.autogravity.com and follow @AutoGravityHQ on Twitter.

About Mercedes-Benz Financial Services USA LLC

Mercedes‐Benz Financial Services USA LLC, headquartered in Farmington Hills, Michigan, with Business Center Operations in Fort Worth, Texas, provides brand‐specific financial products and services for Mercedes‐Benz and smart automotive dealers and their retail customers. In the U.S. trucking industry, it conducts business as Daimler Truck Financial and provides flexible financial products and services for Daimler Trucks North America commercial vehicles branded Freightliner, Western Star, Thomas Built Bus and Mitsubishi Fuso Truck of America, Inc. Mercedes‐Benz Financial Services USA serves as the headquarters for operations in the United States, Canada, Mexico, Argentina and Brazil, and has approximately 1,800 employees throughout the Americas. It is a company of the Daimler Financial Services Group, headquartered in Stuttgart, Germany, which does business in 40 countries and has an employee base of approximately 9,000 people worldwide. Daimler Financial Services is one of the leading financial services organizations worldwide and was named one of the 25 World's Best Multinational Workplaces by the Great Place To Work Institute in 2014. Mercedes-Benz Financial Services was named one of the 100 Best Workplaces for Millennials in 2015 and 2016 and one of the 30 Best Workplaces in Financial Services and Insurance in 2016 by the Great Place to Work Institute. For more information, please visit www.mbfs.com/corp or facebook.com/mymbfs. For more information about Daimler Truck Financial, log onto www.daimler-truckfinancial.com.