Gravity Lending Auto Loan Refinancing Review 2023

Short in Time

If you're short on time, here it is: Gravity Lending offers a fast and efficient platform that connects you with multiple lenders, providing a variety of loan terms and rates to fit your needs.

Introduction

Welcome to Money Verdict’s review of Gravity Lending, a key player in the auto loan refinancing market that provides a multitude of options through its expansive network of lenders. The platform focuses on offering tailored solutions to meet individual financial needs.

Who is Gravity Landing a Good Fit For?

If you're someone who values having options, Gravity Lending is a great fit. Their wide range of lender partnerships ensures that you're likely to find a loan term and interest rate that can suit your financial situation. The quick approval process also makes it ideal for borrowers who need to refinance in a time-sensitive manner.

Application Process

The application process starts with a simple online form, requiring basic personal information and details about your existing auto loan. A soft credit check is performed for initial qualification. Once you submit the form, Gravity Lending sources multiple loan offers for you. You can then choose to proceed with a specific offer, which will involve a hard credit pull and additional document verification before loan finalization.
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Qualification

To qualify, borrowers generally need a credit score of at least 580. Your vehicle should be less than 10 years old with fewer than 150,000 miles. The company also examines your debt-to-income ratio and employment stability when considering your application

Our Verdict

Our final verdict on Gravity Lending is overwhelmingly positive. The service excels in providing options and flexibility, which are invaluable in the realm of auto loan refinancing. While it does have limited customer support hours, and a potential for multiple hard credit pulls, these downsides are relatively minor compared to the benefits. Gravity Lending shines in its ability to offer quick, tailored solutions through its expansive network of lenders.

Pros

Wide Range of Lenders
No Application Fees
Flexible Repayment Terms
Quick Approval Process
Customer-Centric Service

Cons

Credit Score Impact for Multiple Hard Pulls
Limited Customer Support Hours

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Common Questions (FAQ)

How long does the approval process take?

Typically, you'll receive multiple offers within a day of applying.

Does the initial application affect my credit score?

The initial application involves a soft credit pull, which does not impact your credit score.

What are the customer service hours?

Customer service is available from 9 AM to 6 PM EST, Monday through Friday.

Is there an age or mileage restriction on the vehicle?

Yes, the car must be less than 10 years old and have fewer than 150,000 miles.

What’s the minimum credit score required?

A credit score of at least 580 is generally required for loan qualification.