Open navigation Main Menu Mortgages
Refinancing an current loan Finding the best lender Additional Resources
Looking for a financial advisor? Take our 3 minute quiz and then match up to an adviser today.
Main Menu Banking
Compare Accounts Use calculators Get advice Bank reviews
Looking for a financial advisor? Try our three minute test and match the advisor you want today.
Main Menu Credit cards
Compare by category Compare by credit needed Compare by issuer Get advice
Looking for the ideal credit card? You can narrow your search using CardMatch(tm)
Main Menu Loans
Personal Loans Student Loans Auto Loans Calculators for loans
Find a personal loan in 2 minutes or less. You can also answer a few questions to get offers–with no impact on your credit score.
Main Menu for Investing
The Best Brokerages as well as robo-advisors . Learn the basics Additional information
Looking for a financial advisor? Do our 3-minute quiz and then match up the advisor you want today.
Main Menu Home equity
Get the best rates Lender reviews Use calculators Knowledge base
Looking for a financial advisor? Do our 3-minute quiz and match to an adviser today.
Main Menu Real estate
Home selling or buying homes Locating the right agent sources
Looking for a financial advisor? Do our 3-minute quiz and match to an adviser today.
Main Menu Insurance
Car Insurance Homeowners insurance Other Insurance Company reviews
Looking for a financial advisor? Take our 3 minute quiz and then match up the advisor you want today.
Main Menu Retirement
Retirement accounts and retirement plans Find out the basics about retirement calculators Other resources
Looking for a financial advisor? Try our three minute test and match the advisor you want today.
Search open Close search
Submit
Gravity: Auto 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 is a specialist in helping readers with the details of using loans to buy the car they want.
Edited by Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate since the end of 2022. He believes in transparent reporting that allows readers to confidently get deals and make best choices for their finances. He is a specialist in small and auto loans.
Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make smarter financial decisions by offering you interactive tools and financial calculators that provide objective and original content, by enabling you to conduct your own research and compare data for no cost to help you make sound financial decisions. Bankrate has partnerships with issuers including, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The offers that appear on this website come from companies who pay us. This compensation can affect the way and where products appear on this site, including such things as the order in which they may appear within the listing categories and other categories, unless prohibited by law for our loans, mortgage, and other products for home loans. This compensation, however, does have no impact on the content we publish or the reviews that you read on this site. We do not contain the entire universe of businesses or financial offerings that could be accessible to you.
Reviewer’s disclosures Reviewers are supervised by staff. Opinions expressed therein are solely the opinions of the reviewer and have not been reviewed or acknowledged by any advertising company. The information, including rates and fees that are included in the review is accurate up to the date of the review. Review the information on the right and the lender’s website for the most up-to-date information.
At a glance 3.6 Rating: 3.6 stars out of 5
Bankrate Score
Available Rating: 3.8 stars out of 5
Affordability Rating Four stars from five
The Customer Service Rating is 3.4 5 stars. 5
Transparency Rating: 5-stars out of 5.
Find out about auto loan rates
About Gravity Loan amount: $10,000 to $125,000
Min. credit score 500
APR from 5.34%
Funds are available within 10 days
Pros and cons of Gravity for certain people, the advantages of a seamless application may not outweigh the potential long funding timeline.
PROS No fees
Application online
Delayed payment schedule
CONS Funding timeline
Refinancing restrictions
Gravity is an auto loan marketplace that allows borrowers to find the best refinance deals online and in minutes. The application process is simple and is done via telephone or on the internet. It only needs drivers to upload their vehicle documents and then sign off on an existing loan. With the ability to apply online and receive loan assistance from an officer refinancing your car or purchasing a lease with Gravity is a seamless process perfect for those who would prefer assistance.
Do you qualify? Every lender within the Gravity network has their own requirements to be approved, but you should consider the following common requirements before applying. Credit score. To qualify, you need to have a rating of 500. If you have a poor credit score, consider checking out for bad credit auto loans. Income. Although Gravity does not disclose specific income limitations, it’s likely that lenders will check at a specific number because disclosure of employment information is required. Vehicle. Some lenders will not provide loans to ride-share vehicles, old models of vehicles or one-ton vehicles. We like what we see and what we don’t like Consider the whole of the features Gravity has to offer before accepting a 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 apply fully online. Delayed payment schedule. Gravity allows borrowers to delay payments for up to 90 days. We don’t like the funding timeframe. Although approval is possible within the same day you apply, funding may take 10 days or longer. Refinancing requirements. To refinance using Gravity you must have at least a loan balance of $10,000. How to contact Gravity Support for your Gravity loan can be found via phone or on the internet Monday through Friday, 8 a.m. to 6 p.m. Specific questions can be uploaded online or sent to . Gravity’s website has a fairly in-depth FAQ section. There are a variety of auto loan types offered The Gravity marketplace provides borrowers with choices for auto loan refinance and lease buyout. You can borrow anything from $10,000 and $125,000. While rates and terms vary by each lender partnership, the borrower will be provided with terms ranging from 25 and . Gravity also offers the option for drivers to add or remove co-borrowers. The choice to include or exclude co-borrowers is contingent on the circumstances, however this option could provide you with more competitive terms.
Refinance
Loan quick facts Amounts: From $10,000 to $125,000 Terms: 25 to 84 Months APR: 5.34% to 14.99 Percentage
Drivers seeking to lower their monthly payments or adjust the terms of their loans can refinance with some of the banks within the Gravity network. If you are considering refinancing options, make use of a refinance option to make sure you’re saving cash in the end. Lease buyout
The loan’s quick facts range from $0 to $125,000. Terms: 25-84 months APR: 5.34% to 14.99 percent
Buying out your current vehicle lease is an excellent way to secure your current set of wheels and save on potentially expensive vehicle expenses. How to apply for a loan through Gravity You can apply for any of Gravity’s loan products directly from its site, with the option to prequalify encouraged. Following a credit pull that is soft, you will be paired with an loan officer who will assist you through the loan process. After you have been matched with one of Gravity’s nationwide lenders you are able to apply absolutely free, for the loan that is recommended. You can complete this process securely online. Finally, you will go over the new loan conditions and decide if you’d like to shorten or extend your loan duration, in the event of refinancing.
The information required for application must be valid: Valid driver’s license Proof of auto insurance Residence proof Social Security number Information about the vehicle Employment proof of income
Gravity FAQs
Are Gravity a reputable firm? Yes, the firm has an A+ BBB Rating and Accreditation, as well as five stars in the perfect category in Trust Pilot Reviews.
Does Gravity lending conduct the hard credit pull? While Gravity does not perform a hard credit pull however, its lenders who are partners with it will probably do so prior to final loan approval. Gravity makes use of an informal pull to collect your credit information without damaging your credit score.
How does prequalifying for a loan different from preapproval? Prequalification can give you an notion of what to expect for a monthly payment. Preapproval is an unlocked rate that is that is based on a credit pull.
How do Bankrate rates gravity
Overall Score
3.6
Availability
3.8
Gravity has a large network of lenders but does require a large threshold loan sum for customers.
Affordability
3.6
Gravity has are fairly competitive APRs and there are no additional fees from the comparison site.
Customer Experience
3.4
Gravity provides customer support only on weekdays and has lengthy funding timetable.
Transparency
5.0
Gravity has both its fees and rates on the internet and also offers prequalification.
Methodology to rate lenders who specialize in auto refinance loans, Bankrate considers 16 various factors. These factors range in consideration in relation to loan amount, APR that is disclosed and acceptance criteria. Each lender holds a score based on four categories. Accessibility: This is a factor that accounts for loan amounts, vehicle restrictions and availability in each state. Accessibility: This section covers expected APR, acceptance requirements, discounts for autopay and the number of fees. Experience with customers: This category includes accessibility to online services, availability of support along with funding timelines, options for automatic payment and app accessibility. Transparency: In this category, prequalification as well as the disclosure of fees and rates are recorded.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. The opinions expressed in the review are only the opinions of the reviewer and have not been reviewed or acknowledged by any advertising company. The information that is included, including rates and fees, presented in the review is correct at the time of the review. Look over the information on the right, and the lender’s website to find 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 in navigating the details of using loans to buy an automobile.
Edited by Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate since late 2022. He is a fan of clear reporting that helps readers confidently find deals and make the most appropriate choices regarding their finances. He specializes in small business and auto loans.
About
Help
Legal Cookie settings Don’t sell my info
How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. We receive compensation for the placement of sponsored products and, services, or for you clicking certain links posted on our website. So, this compensation can influence the manner, place and in what order products appear in listing categories in the event that they are not permitted by law for our loan products, such as mortgages and home equity, and other home lending products. Other factors, like our own proprietary website rules and whether the product is available within your region or within your personal credit score may also influence how and where products appear on this site. We strive to offer a wide range offers, Bankrate does not include details about each financial or credit item or service. Bankrate, LLC NMLS ID# 1427381 | BR Tech Services, Inc. NMLS ID #1743443 |
|
(c) 2023 Bankrate, LLC. A Red Ventures company. All Rights reserved.
If you loved this short article and you would such as to receive more information pertaining to online same day payday loan virginia kindly visit our own web-page.