First Investors Enters Online Lending Space With AutoGravity

Computer KeyboardFirst Investors Financial Services Group has inked a partnership with digital car financing platform AutoGravity, which will bring the financial institution’s 4,000 dealer partners into AutoGravity’s ecosystem.

“The world is changing; there is a whole population that really doesn’t do anything unless it’s on a smartphone, and I found the AutoGravity platform to be an industry trendsetter in how they put together their model,” Tommy Moore Jr., president and chief executive of First Investors, told Auto Finance News.“

AutoGravity is really in harmony with the dealerships, it’s not trying to disrupt the dealerships.” Houston-based First Investors is the first of several anticipated financial providers to partner with AutoGravity as part of the digital platform’s goal to push beyond the Golden State; Mercedes-Benz Financial Services linked up with AutoGravity in its initial stages, back in August.

“We’re live in California with First Investors, and our plan is to expand across the nation over the first half of this year,” AutoGravity’s Chief Marketing Officer Serge Vartanov said. The app allows consumers to search for a car, select a local dealership, and be presented with as many as four loan or lease options.

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