Gravity Lending Reviews
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About Gravity Lending
Gravity Lending works with lenders nationwide to let you compare loans and customize them to your personal financial needs. There is no charge to use Gravity Lending’s services and work with an experienced loan officer to refinance your auto loan. In addition to auto refinancing, Gravity Lending also offers vehicle service contracts, gap insurance, vehicle protection plans and depreciation and debt protection.
- Nationwide lending network
- Rates as low as 4.99%
- Average savings of $134 a month
- $10,000 minimum
- No commercial vehicles
What is Gravity Lending?
Gravity Lending is an online marketplace where you can compare auto refinancing loan offers from a network of nationwide lenders. The company offers services at no cost to customers, and it provides a fast, secure process. Loans fund in as little as 72 hours with interest rates as low as 4.99%.
The Gravity Lending team has funded over $7 billion dollars in loans and advertises that customers have a total savings average of $2,846.
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. You only need to fill out one application, and you'll be assigned a dedicated loan officer to help walk you through the refinancing process quickly and securely. You can upload the few documents needed and sign from your phone.
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 24 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
As a broker, Gravity Lending will shop lenders nationwide to find you the lowest auto refinancing rate possible. Interest rates start at 4.99%, and the company states it saves customers an average of 25% on their auto loan.
You can compare auto refinance rates with only a soft credit pull, which doesn’t affect your credit score. Gravity Lending does not charge any fees for its services.
Gravity Lending FAQ
Does Gravity Lending do a hard credit pull?
Yes, eventually. Before that is done, the company has a pre-qualification process that only requires a soft credit pull, which does not affect your credit. Once you decide on a loan offer, Gravity Lending performs a hard credit inquiry.
Can I choose my Gravity Lending loan term?
Yes. Terms between 24 and 84 months are available. Your personal financial credit situation and other factors will determine the auto refinancing offers you receive.
What documents do I need to provide to refinance with Gravity Lending?
Only a few. You will need to provide proof of income, proof of residence, proof of insurance and your vehicle information including the year, make, model, VIN and payoff on your current loan.
How long does refinancing with Gravity Lending take?
The company states that most applications take about 90 seconds to complete and funding can happen in as little as 72 hours.
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.
Gravity Lending Reviews
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- 4,568,019 reviews on ConsumerAffairs are verified.
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- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Gravity Lending Company Information
- Company Name:
- Gravity Lending
- City:
- Austin
- State/Province:
- TX
- Postal Code:
- 78758
- Country:
- United States
- Website:
- gravitylending.com