Black Book will power vehicle trade appraisal within AutoGravity’s multi-lender car financing platform, both online and in the mobile app, a joint press release announced this morning.
Dealers told have told both companies that trade-in appraisals are responsible for “sealing the deal in most sales opportunities,” the release said. AutoGravity has always preached transparency as a key mission, and Black Book aims to bring its valuation data and analytical auctions monitoring team to the app, which just expanded to 46 states this year.
The screen shots above show how a consumer would detail the specifics of the trade-in vehicle including make, model, year, condition, and miles. Black Book would then calculate the estimated value range of the trade in and subtract the remaining amount owed.
“AutoGravity serves a growing generation of digitally-savvy car shoppers that seek convenience and control through their smartphones,” Andy Hinrichs, founder and chief executive of AutoGravity, said in the release. “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.”
At the end of February, AutoGravity announced it surpassed 200,000 app downloads. By contrast, the Chase mobile app — which can now also redirect consumers to its mobile-enabled website to apply for a direct auto loan — has more than 1 million downloads on the Google Play store alone.
“Online car financing and shopping will only grow more significant in the future, and a platform such as AutoGravity caters to the way consumers want to shop for cars and trucks,” Jared Kalfus, senior vice president of sales at Black Book, said in the release.
