AutoGravity auto loan review: Apply from your mobile device to reach multiple lenders

Young woman using her cellphone while relaxing at home on the couch Image: Young woman using her cellphone while relaxing at home on the couch

In a Nutshell

You can apply for an auto loan through AutoGravity using your mobile device and potentially get up to four preapproval offers. But when you apply, it will result in a hard credit inquiry — which could lower your credit scores. And even if you do get preapproved, it may be for a loan that’s less than the amount you applied for.

Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when posted. Availability of products, features and discounts may vary by state or territory. Read our Editorial Guidelines to learn more about our team.
Advertiser Disclosure

We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.

Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That's why we provide features like your Approval Odds and savings estimates.

Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.

Pros Cons
Financing for new and used cars available You may receive preapproval offers for less than what you apply for
You may get up to four preapproval offers Most preapproval offers expire within 30 days
All credit profiles considered Applications result in hard credit inquiries, which may affect your credit scores

What you need to know about AutoGravity auto loans

AutoGravity partners with banks, financial institutions and dealerships to provide an online auto loan application process that can pull together multiple loan options and dealership choices. With AutoGravity you may get up to four preapproval offers that you can choose from and take to a dealership.

AutoGravity also touts its mobile app as a way for you to get an idea of your estimated monthly payment.

All types of credit considered

AutoGravity partners with lenders who consider people with all types of credit. Even if you don’t have the best credit history, AutoGravity will try to match you with lenders that fit your particular credit needs.

Multiple preapproval offers for those who qualify

For those who qualify, AutoGravity says it aims to provide up to four preapproval offers that you can select from based on your budget and lifestyle.

Loan terms aren’t guaranteed

Some lenders may offer you a lower loan amount than you request in the application process. In that case, you may have to put your negotiating skills to the test and try to get a lower car price from your dealership. Otherwise, you may have to consider a different car or lender.

And if the preapproved amount doesn’t meet your needs, you don’t have to formally apply with the lender.

A closer look at AutoGravity auto loans

If a new or used car is on your radar, using a single application to potentially get multiple preapproval offers may be of interest. Here are some other things to know about AutoGravity.

  • AutoGravity claims that just about every franchised new-car dealership in the country is available on AutoGravity.
  • Although you can look for auto financing on the AutoGravity platform as many times as you want, your credit may be affected by a hard inquiry each time you apply.
  • You can use AutoGravity to apply for a new-car lease if you’re not interested in buying a car.
  • Since some dealerships have relationships only with certain lenders, you’ll need to select a dealership before you search for financing.
  • Nevada is currently the only state that AutoGravity doesn’t service.

Is an AutoGravity auto loan right for you?

If you want to shop and apply for an auto loan before you head to a dealership, AutoGravity may be a an option for you. You can use your mobile device and won’t have to physically go into a bank or dealership to go through the preapproval process. And if you qualify, you may get up to four offers to consider and choose from.

How to apply for a loan from AutoGravity

You can apply for an AutoGravity auto loan in four steps either on the platform’s app or website after creating an account.

1. Find a car. You can shop by price or browse through new and used cars to choose the make, model, year, trim and price that meets your needs.

2. Select your dealership. Once you select your dealership, you’ll receive its phone number, email address and website so you can ask if your selected car is available.

3. Apply for preapproval. To apply for preapproval, select whether you have a trade-in. If you do, you’ll enter your down payment and term information and give details about your trade-in vehicle make, model, year, mileage and condition. If you don’t have a trade-in, you’ll just need to fill in your down payment and preferred loan term. Remember that even if you’re preapproved, you’ll have to formally apply with the lender.

4. Check for offers. You might receive up to four preapproval offers based on your credit profile, the car you selected and the preferred dealership you chose.

After you’ve selected an offer that’s right for you, contact your dealership and discuss your loan terms directly with the dealership’s finance team. All that’s left is heading to your dealership, negotiating your car price, completing the paperwork, and driving away in your new (or used) car.

Not sure if an AutoGravity auto loan is right for you? Consider these alternatives.

While AutoGravity makes shopping for financing convenient, it may not be right for everyone. Here are some alternate options to consider.

  • New Roads auto loan: If your credit isn’t great or you’ve been through a bankruptcy, you may want to explore a New Roads auto loan.
  • USAA auto loan: An auto loan with USAA may be a better option if you can qualify for USAA membership and competitive interest rates on a new or used car.