5 alternatives to AutoGravity loans

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In a Nutshell

Car-shopping and -financing platform AutoGravity is no longer offering auto loans. But there are other auto lending platforms out there that allow you to shop around for financing by matching you with lenders that might fit your needs. We’ve rounded up several for you to consider.
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AutoGravity has shut down its car-shopping and auto loans platform to focus on a new venture: car subscriptions. The good news is that there are other online lending platforms out there that can help you shop for financing by matching you with prospective lenders.

We’ve rounded up five possible alternatives that offer benefits — like a wide range of loan options, the ability to shop for a car and loan in one place, and a willingness to consider people with bad credit — to help you in your search for an auto lender that’s right for you.



Auto Credit Express: Good for people with bad credit

Why Auto Credit Express stands out: Lenders within the Auto Credit Express platform consider people across the credit spectrum, just as AutoGravity did when it offered financing. Some dealers within the Auto Credit Express network even work with people who have declared bankruptcy or had a car repossessed in the past.

Here are more details about Auto Credit Express.

  • Large dealership network — Auto Credit Express partners with more than 4,000 dealerships across the U.S. to offer new- and used-car financing. But depending on where you live, you may have limited options in your area.
  • Buy-here, pay-here dealerships — Some car dealerships in the Auto Credit Express network offer in-house financing. These buy-here, pay-here dealerships often charge much higher interest rates than other lenders. Before signing any loan paperwork, make sure you’ve compared all your loan options and understand the loan terms.
  • Loan requirements — Requirements to qualify for a loan vary among dealers in the Auto Credit Express network. But Auto Credit Express lists some key requirements: You must be at least 18 years old, have a valid driver’s license and be a legal resident of the United States. The company also notes that if you have bad credit, you may need to have $1,500 to $2,000 of monthly pretax income, six months on a qualifying job with at least three years of employment history, proof of residence, a phone bill and personal references.

Read our Auto Credit Express review to learn more.

Vroom: Good for help with the car-buying process

Why Vroom stands out: Similar to what AutoGravity used to offer, Vroom provides the ability to shop for a car and apply for financing all in one place. Vroom partners with more than a dozen banks and other lenders, including Ally and Santander. Once you find a car you like, you can apply for financing on Vroom’s website in minutes.

Here are some more things to know about Vroom.

  • Delivers across the country — Vroom only has offices in Houston, Detroit and New York, but it delivers vehicles to most U.S. states.
  • Used vehicles only — Vehicles offered through Vroom are used and come from private sellers, auctions and other dealerships.
  • Handles vehicle registration for you — If you finance through Vroom, it will register your car for you and mail your registration and license plates to you.

MyAutoLoan: Good for a range of loan options

Why MyAutoLoan stands out: MyAutoLoan offers a range of loan options through its lending network, including loans for new vehicles, used vehicles, private-party purchases, lease buyout and refinance. Like AutoGravity previously did, MyAutoLoan matches people with potential lenders after you complete an online application. From there, you can choose the lender that best fits your needs.

Here’s more information about MyAutoLoan.

  • Available in 48 states — MyAutoLoan doesn’t do business in Alaska or Hawaii.
  • Considers people with lower credit scores — Lenders in the MyAutoLoan network require FICO scores of 575 or higher.
  • Income requirements — The company notes on its website that a minimum income of $21,000 is a general requirement for a purchase, private-party or lease buyout loan. The minimum for a refinance loan is $18,000.
  • Minimum loan amounts — The minimum loan amount is $8,000 for a car purchase or lease buyout loan and $5,000 for a refinance loan. This may make MyAutoLoan a non-option if you plan to buy an older, lower-priced used car.

Read our MyAutoLoan review for more details.

Autopay: Good for wide loan amount range

Why Autopay stands out: Autopay offers loans for new cars and used cars, lease buyout loans and refinancing (both cash-out and traditional) through its nationwide network of credit unions and other financial institutions. In addition to a range of auto loans, Autopay also offers a wide loan amount range — from as little as $2,500 up to as much as $100,000 (terms may be different when you apply through Credit Karma). This low minimum loan amount could be ideal if you only need to borrow a little money or plan to finance an inexpensive used vehicle.

Here are some more things to know about Autopay.

  • Ability to apply for prequalification — Submitting an online application will result in a soft inquiry that won’t affect your credit scores. Once you choose a lender, Autopay will run a hard inquiry, which can lower your scores. Remember that prequalification for an auto loan isn’t a guarantee you’ll be approved for the loan or the estimated rate or loan terms. You’ll need to submit a formal application to the lender (triggering a hard inquiry) and, if you’re approved, your loan rate and terms may change.
  • Competitive rates — Autopay’s starting annual percentage rate, or APR, for people who qualify is lower than what many banks and credit unions offer.
  • Considers people across the credit spectrum — Lenders in theAutopay network work with people with all credit profiles, including those who are rebuilding their credit.

Check out our Autopay auto loans review to learn more.

RateGenius: Good for refinancing

Why RateGenius stands out: If you’re interested in refinancing your current car loan to get a better interest rate or lower your monthly payment, RateGenius can help do some of the heavy lifting for you. If you’re approved after you submit an application, RateGenius will work with its network of more than 150 lenders to find the best interest rate and loan terms you qualify for.

And once you sign your new loan agreement, RateGenius will pay off your old auto loan balance and transfer the title from your former lender (if that’s who holds it) to your new lender.

A couple more details about RateGenius.

  • Potential fees — RateGenius says there may be “prepaid finance charges” in some cases, and there may be fees charged by the DMV, depending on your loan and state.
  • Proof of income required — You’ll need to provide proof of steady household income during the application process. If you don’t meet income requirements, you may be able to include a co-applicant who meets the requirements.

Read our RateGenius auto refinance loan review to learn more.

How we picked these alternatives

We considered a number of factors when choosing AutoGravity loan alternatives. We started by looking at other auto financing platforms that help match people with potential lenders. We then identified those with similar features to what AutoGravity offered. These features include considering people with less-than-perfect credit, the ability to shop for a car in the same place you apply for a loan, and availability across the United States. 


About the author: Rebecca Giantonio Moran is a managing editor at Credit Karma. She has more than 20 years of experience in brand development, content and website strategy, copywriting, marketing and public relations. Throughout her ca… Read more.