AutoGravity and Black Book have teamed up to offer consumers and dealers a trade-in value tool through AutoGravity’s mobile app and web platform“AutoGravity serves a growing generation of digitally-savvy car shoppers that seek convenience and control through their smartphones,” Andy Hinrichs, CEO of AutoGravity, said in a statement Tuesday from Black Book. “The ability to offer our customers the most accurate and transparent trade appraisals from Black Book is a critical part of our turnkey approach to the mobile car shopping and financing experience.”
Via AutoGravity’s mobile app, web platform or a partnering dealership’s website, customers can shop for a vehicle, locate a nearby dealership that has it, choose from up to four finance or lease offers and get pre-approved. The dealership still makes dealer reserve, and the customer comes into the store to finalize the deal, offering opportunity for a face-to-face F&I presentation.
The trade-in value tool, powered by Black Book, went live on AutoGravity’s app and web platform on Tuesday.
Black Book has lender, dealership and automaker clients, so “it makes sense for AutoGravity to utilize a consistent value throughout the consumer’s transaction,” said Jared Kalfus, senior vice president of sales at Black Book. “Having a consistent value helps the consumer, the dealer and the lender.”
AutoGravity launched the program in California last year and so far hasexpanded it to 46 states and to more than 20 auto lenders, including Mercedes-Benz Financial Services, First Investors Financial Services and Westlake Financial Services. Last week AutoGravity said it has exceeded 200,000 downloads of its iOS and Android smartphone apps.
There are websites that let customers shop, refer them to a dealership or allow them to apply for financing, but “AutoGravity wrapped this up into one experience,” Kalfus said. “They have taken this approach and made it turnkey from a mobile perspective.”
An accurate trade-in value is essential to the success of a transaction, he added. A discrepancy in what the consumer thinks the vehicle is worth and what the dealership says it’s worth can “blow up” the deal, he said.
AutoGravity sends the Black Book trade-in value to the consumer’s chosen dealership, so both the store and consumer are on the same page.
“Having the same consistent data … takes out any conflict between the consumer and the dealer because they can agree on a price,” Kalfus said.