CHERRY HILL, N.J.--(BUSINESS WIRE)--TD Auto Finance (TDAF), a subsidiary of TD Bank, America's Most Convenient Bank®, today announced a partnership with AutoGravity, a fintech provider modernizing the way consumers buy and finance automobiles. Through this partnership, indirect financing offers through TDAF will be made available to qualified auto buyers using AutoGravity’s digital platform to search for and finance their next vehicle from the convenience of their desktop or mobile device.
For reference, over 1,000,000 users, the majority of whom are millennials, have downloaded AutoGravity native iOS and Android apps and collectively requested over $2 billion in vehicle financing in 2017. Recognizing the popularity of comprehensive digital options in auto financing today, TDAF will utilize AutoGravity technology to further its reach to this set of consumers.
“We realize the impact that cutting edge technology will have for our current and prospective dealer partners. Given consumers' desire for digital options, our partnership with AutoGravity positions us to reach car buyers right on their smartphones and will help to drive the next wave of innovation in our industry,” said Andrew Stuart, President and CEO, TD Auto Finance U.S.
The AutoGravity app connects ready-to-buy car shoppers with lenders and dealerships through a seamless digital platform. Consumers can choose any new or used car, browse local inventory, apply for financing and select from up to four personalized indirect auto finance offers from the same leading indirect lenders with whom the dealership is already partnered. Consumers can then take their chosen offer to the dealership to purchase the vehicle they selected.
“AutoGravity is reinventing the car buying and financing journey with game-changing technology that effortlessly connects consumers, dealers and lenders,” said Andy Hinrichs, Founder and CEO of AutoGravity. “Our partnership with TDAF reinforces our commitment to empower car buyers with finance options from the most trusted lenders in the industry – lenders that embrace technology to offer a new level of service to digitally savvy car buyers and dealerships alike.”
The AutoGravity app is available via the Apple App Store, the Google Play Store and all web devices at www.autogravity.com.
AutoGravity is revolutionizing the way people buy and finance cars. Harnessing the power of the smartphone, AutoGravity technology provides a new level of transparency, convenience and speed to the car shopping and financing process. AutoGravity partners with the world’s leading banks and financial services companies to give car buyers direct control over their car financing options while connecting them to a nationwide network of trusted car dealerships. Available on iOS, Android and Web, AutoGravity empowers car buyers with up to four binding offers in minutes. Based in Irvine, California, AutoGravity was founded by an international team of digital natives and auto industry veterans. For more information on AutoGravity, please visit www.AutoGravity.com and follow @AutoGravity on Twitter.
About TD Bank, America's Most Convenient Bank
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9 million customers with a full range of retail, small business and commercial banking products and services at more than 1,200 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.