Updated on 07/01/2021

Gravity Lending

Saved

About Gravity Lending

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Gravity Lending is an auto refinancing company based in Austin, Texas. It works with a wide variety of lenders to help find customers the best savings possible on their loans. The company states that customers save up to $114 per month when they use its refinancing services. In addition to refinancing, Gravity Lending also offers vehicle service contracts, guaranteed asset protection and depreciation protection.

Pros

Free comparison
Low starting rates
High savings

Cons

$10,000 minimum
Not nationwide

Bottom Line

Gravity Lending offers free comparisons of auto loan refinancing offers. The minimum loan amount is high and services aren’t available in every state, but the low rates and savings are appealing to many customers.

What is Gravity Lending?

Gravity Lending is an online marketplace for auto refinancing that lets you compare loans from different lenders and choose one that makes the most sense for your car loan needs. The company’s technology helps create a fast and secure process that saves time and money. Gravity Lending has more than 100 years of financial experience, and it does not charge for its services.

How does Gravity Lending work?

As an online marketplace, Gravity Lending works as a middleman for refinancing loans. You can use its platform to compare loan options and rates from a wide variety of companies, each of which sets its own rates and terms. The online site is easy to navigate and understand, which is a big selling point for many customers. Plus, the ability to compare options at no cost creates more flexibility in pricing and terms. In general, refinancing loans offered through Gravity Lending are available for 25 to 84 months and must be for at least $10,000.

After choosing a loan, you need to provide certain documentation, including proof of insurance and income. Other things needed for approval include a valid driver’s license, vehicle information and proof of residence. After approval, you have between 45 and 90 days before you need to make your first loan payment.

Gravity Lending rates

Gravity Lending is a broker, and the lenders it partners with set their own rates. The company’s website states that rates start at 1.99%. You can compare options and pre-qualify for loans with a soft credit pull, which doesn’t affect your credit score. Gravity Lending doesn’t charge any fees for its services.

Gravity Lending FAQ

Does Gravity Lending do a hard credit pull?: Yes, but not at first. For the pre-qualification process, Gravity Lending will just do a soft credit pull. Once you decide on a loan, the company performs a hard credit inquiry.
Can I choose my Gravity Lending loan term?: Yes. Terms between 25 and 84 months are available, depending on your credit situation and other factors.
What documents do I need to provide to refinance with Gravity Lending?: You need to provide proof of income, proof of residence, proof of insurance and vehicle information. You should also gather pay stubs, W-2s, tax returns, a driver’s license, bank statements and an insurance card.
How long does refinancing with Gravity Lending take?: The company states that you can refinance your auto loan “in a matter of minutes” and get funding “reasonably quickly.” There is no exact timeline for the loan process on the company’s website.

Is Gravity Lending legit?

Gravity Lending is a popular company for those who want to compare their auto refinancing options online. Because the services are free and pre-qualifying doesn’t require a hard credit pull, it’s easy to figure out your loan offers. Some vehicle owners might be frustrated to find out that loans start at $10,000 and aren’t available in every state, but many customers find cost savings by refinancing with Gravity Lending.