Mercedes Is First to Offer Leases Through AutoGravity | Auto Finance News | Auto Finance News

Mercedes Is First to Offer Leases Through AutoGravity

canstockphoto38043281Mercedes-Benz Financial Services has joined AutoGravity’s financing aggregator, a platform that enables consumers to search vehicle inventory from dealers nationwide and apply for financing — online or via mobile app — from participating lenders. MBFS is the first financier to offer leasing on the platform.

“We have been working on integration with Mercedes-Benz Financial Services for some time now, but we officially launched leasing capability at the end of July,” said Serge Vartanov, AutoGravity’s chief marketing officer. To start, only AutoGravity customers in California will be able to apply for loans or for MBFS leases.

AutoGravity first launched its app in June, and is “approaching 10,000 users” so far, Vartanov said. The tech provider is “in conversations” with a second financier that is “open to offering a lease product” through AutoGravity’s platform, Vartanov said.

Through AutoGravity’s platform, consumers can find dealerships and estimate monthly payments based on their preferences, such as term, down payment, and trade-in value. MBFS originated $9 billion of leases last year, according to the 2016 Big Wheels Auto Finance report.

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  1. […] Financial Services, a subsidiary of Daimler, was the first captive to join the platform with leasing in July followed by loan servicing in […]