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Gravity: the 2023 automobile loan review Published 2023-01-27 15:21:19
Written by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers to navigate the ins and outs of securely using loans to buy a car.







Edited by Helen Wilbers Edited by

Helen Wilbers has been editing for Bankrate since late 2022. He believes in transparent reporting that allows readers to successfully get deals and make most appropriate choices regarding their finances. He is a specialist in auto and small business loans.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make smarter financial decisions by providing you with interactive tools and financial calculators that provide objective and original content. We also allow users to conduct research and compare data for no cost and help you make financial decisions with confidence. Bankrate has agreements with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The deals that are advertised on this site are from companies that pay us. This compensation could affect how and where products appear on this website, for example such things as the sequence in which they be listed within the categories of listing in the event that they are not permitted by law. This applies to our mortgage, home equity and other products for home loans. However, this compensation will not influence the information we publish, or the reviews you see on this site. We do not contain the vast array of companies or financial deals that may be available to you.




About our reviews . Editorial disclosure Reviewers are supervised by our staff. The opinions expressed in them are only the views of the reviewer. They are not reviewed or approved by any advertiser. The information, including rates and fees provided in the review is accurate at the time that the review was written. Look over the information on the right as well as the lender's website for the most recent details.








A look 3.6 Score: 3.6 stars out of 5
Bankrate Score

Availability Rating: 3.8 stars out of 5
Affordability Rating: 4 stars out of 5
Customer Experience Rating: 3.4 five stars from five
Transparency Rating: 5 stars out of 5


Find out about rates for auto loan rates

The amount of the loan is of $10,000 to $125,000
Min. credit score 500
APR starting at 5.34%
Funds are available within 10 days



Pros and cons of gravity for certain people, the advantages of a seamless application might not be enough to offset the possible long timeframe for funding.

PROS No fees
Online application
Delayed payment schedule

CONS funding timetable
Refinancing limitations





Gravity operates an online auto loan marketplace that allows borrowers to compare top refinance offers online in just a few minutes. The simple application can be completed over the telephone or on the internet. It only needs drivers to upload their vehicle documents and sign off on the new loan. With the option of applying online and receive loan advisor guidance, refinancing a car or buying out your lease with Gravity is a simple process perfect for those who prefer assistance.

Do you qualify? Every lender in the Gravity network carries specific requirements to approve, but take into consideration the following requirements prior to applying. Credit score. To qualify, you need to have a rating of 500. If your credit is lacking look into bad credit auto loans. Income. Although Gravity does not provide specific information about income limitations, it's most likely that loan providers will look at a certain amount because disclosure of employment information is required. Vehicle. Some lenders will not lend for ride-share cars, old models of vehicles or one-ton vehicles. Our favorite things and don't like Consider the whole of the features Gravity has to offer prior to accepting an loan. We like the fact that there are no fees. Gravity doesn't impose any fees. Application on the internet. Borrowers can seamlessly upload documents and complete their application online. Delayed payment schedule. Gravity lets borrowers delay payments as long as 90 days. We do not like the Funding timeframe. Although approval is possible as soon as the day you submit your application, the process may take 10 days or longer. Refinancing requirements. To refinance using Gravity you must have an initial loan balance of $10,000. How to contact Gravity Support to inquire about your Gravity loan can be found over the phone or online Monday through Friday, 8 a.m. to 6 p.m. Questions specific to your situation can be posted online or sent to . Gravity's website also boasts an extremely comprehensive FAQ section. Auto loan types offered The Gravity marketplace offers borrowers the option of auto loan refinancing and lease buyout. You can borrow anywhere between $10,000 to $125,000. Although terms and rates differ by the lender partners, it is will be offered terms between 25 and . Gravity also offers the option to drivers to add or eliminate co-borrowers. The decision to include or exclude co-borrowers is contingent on the circumstances, however this could potentially provide you with more competitive terms.
Refinance
Loan quick facts Amounts: $0 to $125,000. Terms: 25 to 84 month APR: 5.34% to 14.99 Percentage


Drivers who want to reduce their monthly payment or alter lending terms can refinance through some of the banks within the Gravity network. When considering refinance options, take advantage of a to make sure you're saving cash in the end. Lease buyout
Quick facts about loans: $10,000 to $125,000 Terms: 25 to 84 months APR: 5.34% to 14.99 Percentage


The option of buying out your current car lease is a great option to keep your current set of wheels and avoid potentially high vehicle costs. How to apply for a loan through Gravity You are able to apply for one from Gravity's loan products directly from its site, with the option to prequalify. After a soft credit pull, you will be paired with a loan agent who will help you in the loan process. After being matched with one of Gravity's national lenders you are able to apply for free to the loan suggested. It is possible to complete the process safely online. After that, you'll be able to review the new loan terms and decide whether you'd prefer to reduce or extend the loan period, especially if you're refinancing.
The information required for application must be valid: Valid driver's licence Proof of auto insurance Proof of residence Social Security number Information about the vehicle Employment verification Proof of income


Gravity FAQs
Are Gravity a trustworthy business? Yes, the firm has the A+ BBB Rating & Accreditation, as well as five stars with a perfect score for Trust Pilot Reviews.



Does Gravity lending conduct an invasive credit check? While Gravity does not conduct any kind of credit pull but its partners will probably do so prior to final loan approval. Gravity employs an informal pull to collect your credit history without affecting your credit score.



How does prequalifying for a loan differ from preapproval? Prequalification can give you a firm estimate of what you can expect for a monthly payment. Preapproval, , is an unlocked rate that is based on a hard credit pull.



How do Bankrate rates gravity
Overall Score
3.6
Availability
3.8
Gravity has a wide collection of lenders, however they do have a strict minimum loan amount for its borrowers.
Affordability
3.6
Gravity offers are fairly competitive APRs and does not charge fees directly from the comparison site.
Customer Experience
3.4
Gravity offers customer support only on weekdays , and has a lengthy funding timetable.
Transparency
5.0
Gravity has both its fees and rates online, and provides prequalification.


Methodology To rate lenders that focus on auto refinance loans, Bankrate considers 16 different elements. These variables range in relation to loan amount, the APR disclosed as well as acceptance requirements. Each lender has a score that is which is determined by four categories. Accessibility: This is a factor that accounts for loan amount, vehicle restrictions and availability in each state. Accessibility: This section covers expected APR, acceptance requirements, discounts for autopay and the number of charges. Customer experience: This section includes accessibility via the internet, support available and funding timeframe, as well as the option for automatic payment and app accessibility. Transparency: Here prequalification and disclosure of rates and fees are taken into account.
Editorial disclosure The reviews are written by Bankrate.com staff. Opinions expressed therein are solely the opinions of the reviewer and are not reviewed or approved by any advertising company. The information such as rates and charges, presented in the review is correct as of the date when the review first appeared. Look over the information in the upper right hand corner of the page and the lender's site for the most recent information.




Written by
Rebecca Betterton
Auto Loans Reporter


Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the ways and pitfalls of borrowing money to purchase an automobile.
Editor: Helen Wilbers Edited by

Helen Wilbers has been editing for Bankrate from late 2022. He believes in the clarity of his reporting, which helps readers successfully get deals and make most appropriate choices regarding their finances. He specializes in auto and small business loans.

















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