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Gravity Lending - Prime Auto Refinance

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SuperMoney Net Recommendation Score +95  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +95, equating to 4.9 on a 5 point rating scale.

+95

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

36 users recommend
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1 user doesn't recommend
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Highlights
Community Rating Strongly recommended
Credit Score Range 640 - 850
Loan Amount $10,000 - $150,000
APR  (Fixed APR) Starting at 5.05%
(Verified 12/06/2022)
Loan Term (Months) 25 - 84 months
Number of Reviews 37

Gravity Lending - Prime Auto Refinance Review

Gravity Lending prime auto refinance is an auto loan refinance offering by Gravity Lending, based in Austin, TX. Founded in 2015, Gravity Lending offers auto refinance loans in 50 states (and Washington, DC).

Key Takeaways

  • APRs starting at 5.05%. There are average starting rates for an auto refinancing loan. If you have good credit you may qualify for a loan with better rates.
  • Vehicle types. Gravity Lending only refinances cars and trucks.
  • Fair credit accepted. The credit score needed for Gravity Lending - Prime Auto Refinance is relatively low. Borrowers with a credit score as low as 640 may qualify for Gravity Lending - Prime Auto Refinance.
  • Vehicle requirements. Vehicles must have less than 100,000 miles and a maximum age of 10 years.
  • Refinancing for large loan amounts. You can refinance auto loans of up to $150,000 with Gravity Lending - Prime Auto Refinance.
  • Fast process. In some cases you can refinance your auto loan within 1 business day.
  • No origination fee. Gravity Lending - Prime Auto Refinance does not charge an origination fee for processing your loan application.
  • No late fees. Missing a payment can seriously damage your credit, but Gravity Lending - Prime Auto Refinance will not charge additional fees if you miss the due date on a payment.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Gravity Lending - Prime Auto Refinance.
  • Long loan terms. Gravity Lending - Prime Auto Refinance offers loan terms of up to 84 months. Most auto refinancing loans have a maximum term of 60 months.
  • Minimum income of $24,000. You will need an annual income of at least $24,000 to apply for Gravity Lending - Prime Auto Refinance, which is above average for the lenders in our database.

Gravity Lending prime auto refinance Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • Available in all 50 states.
  • $0 prepayment fee.
  • Loan options with $0 origination fee.
  • Considers applicants with fair credit.
  • Considers older vehicles (max. 10 years)
  • Not available in all states.

Gravity Lending prime auto refinance FAQ

How much can you borrow via Gravity Lending prime auto refinance?

Auto refinance loan amounts start at $10,000 and go up to $150,000.

What are the auto loan refinancing rates offered through Gravity Lending prime auto refinance?

Gravity Lending prime auto refinance offers a fixed APR car loan refinancing product that ranges from 5.05% APR.

What is the maximum loan term you can get with Gravity Lending prime auto refinance?

Gravity Lending prime auto refinance offers auto refinancing with terms ranging from 25 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto refinancing loan, the more interest you will pay.

Does Gravity Lending prime auto refinance charge an origination fee on auto refinance loans?

No, Gravity Lending prime auto refinance does not charge a loan origination fee for refinancing a car loan.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount.

Does Gravity Lending prime auto refinance charge a late fee?

No, Gravity Lending prime auto refinance will not charge you a late payment fee.

Does Gravity Lending prime auto refinance charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for Gravity Lending - Prime Auto Refinance?

Applicants with a credit score of at least 640 and up to 850 may be eligible for Gravity Lending - Prime Auto Refinance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for auto loan refinancing with Gravity Lending - Prime Auto Refinance, applicants need a minimum annual income of $24,000 or higher. Gravity Lending - Prime Auto Refinance only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Gravity Lending - Prime Auto Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Gravity Lending - Prime Auto Refinance. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of insurance
  • Driver's license

What is the maximum mileage to refinance with Gravity Lending?

Gravity Lending is an option for high-mileage vehicles. They will consider car loan applications for vehicles with up to 100000 miles on the odometer.

What is the maximum car age to refinance with Gravity Lending?

Only vehicles that are 10 years old or less can qualify for an auto refinance.

What is the estimated funding time for a car loan refinance with Gravity Lending prime auto refinance?

Auto refinance loan applications are typically approved (or denied) within 1 hour and funded within 1 to 7 days of approval.

Does Gravity Lending - Prime Auto Refinance report your account activity to credit bureaus?

Yes, Gravity Lending - Prime Auto Refinance reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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Message From Gravity Lending prime auto refinance

At Gravity Lending we do things differently, starting by not charging a fee for your auto loan refinance. We truly have the best reviews in the industry (see for yourself), and with rates as low as 1.99%, you can save thousands in minutes from your phone. Review offers, customize your loan, and sign from anywhere. Really, it is that easy to grab life by the payments.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 6:00am - 4:00pm
  • Tuesday 6:00am - 4:00pm
  • Wednesday 6:00am - 4:00pm
  • Thursday 6:00am - 4:00pm
  • Friday 6:00am - 4:00pm
  • Saturday Closed

About Gravity Lending - Prime Auto Refinance

Icon for Auto Loan Refinancing
View all auto loan refinancing offered by Gravity Lending

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

No Late Fees
No Origination Fee
No Prepayment Fee
Credit Score Range 640 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
Maximum Mileage 100,000
Maximum Vehicle Age 10
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $24,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
  • Tax Returns
Vehicle Type Auto
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Insurance
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • Equifax
Funding Time Range 1 - 7 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Storefront
  • Credit/Debit Card
  • Bank Transfer
Pre-Qualified Soft Credit Inquiry
APR (Fixed APR) Starting at 5.05%
(Verified 12/06/2022)
APR Type Fixed APR
Loan Term 25 - 84 months
Loan Amount $10,000 - $150,000

Gravity Lending - Prime Auto Refinance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +95, equating to 4.9 on a 5 point rating scale.

+95

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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