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Buying Your Car Off Your Phone

Tuesday, March 13, 2018

(AP, CHERRY HILL, N.J., BUSINESS WIRE) - TD Auto Finance announced a partnership with AutoGravity, a fintech provider modernizing the way consumers buy and finance automobiles. Through this partnership, indirect financing offers 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.


View source version on businesswire.com:http://www.businesswire.com/news/home/20180306005658/en/