AutoGravity is working to incorporate full-service leasing options — maintenance and insurance — onto its platform, Chief Financial Officer Lukas Wickart told Auto Finance News.
“On AutoGravity, in the future, you will be able to not just finance a vehicle but add insurance and additional products with your car, so [the platform] becomes more of a one-stop shop,” Wickart said.
As full-service leasing models “pop up,” the fintech company welcomes those leasing providers as potential partners, he said. “It’s definitely something we are looking at and want to add to our platform going forward.”
From a technology standpoint, AutoGravity is able to build out products in “record time,” he said. For example, the company built its trade-in estimator tool within three weeks.
“Our engineering team is extremely quick, so we can act super fast to those kinds of [mobility] trends as they emerge,” Wickart said. “Those all-inclusive lease models, that’s definitely not something we looked at six months ago, but now we are.”
AutoGravity operates in all states except Nevada and has nearly a half-million users, up from 1,000 users last June when the platform launched. The company is also nearing a half-billion dollars in total volume of loan amounts requested through its platform.
