Gravity Lending auto refinance review: No-fee refinancing

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Editors’ take: Refinancing an auto loan through Gravity Lending could be a good option for those interested in an online refinance process with no fees. Refinancing through Gravity Lending can also allow you to skip three months’ worth of payments at the beginning of the loan term, which could be helpful if you’re short on cash. But if you have a current loan balance of less than $10,000, you’ll need to look elsewhere.

Gravity Lending auto loans at a glance

Starting APR5.99%
Minimum loan amount$10,000
Loan terms25-84 months
Minimum credit score requiredNot disclosed
Loan feesNone
Prepayment penaltyVaries by partner lender
Availability All 50 states
Ability to apply for prequalification or preapproval?Prequalification
How to applyOnline or over the phone


  • No loan fees
  • Works with lending partners to find competitive rates
  • Ability to delay payments for up to 90 days
  • Able to prequalify with a soft credit pull


  • Must have at least a $10,000 loan balance
  • Qualifying for the lowest APR requires a newer vehicle and 750 credit score

What you need to know about Gravity Lending auto loans

Gravity Lending isn’t a direct lender — it partners with various financial institutions to offer auto refinance products online. Gravity Lending doesn’t charge fees, and advertises rates as low as 5.99% APR, although the lowest rates are reserved for those with excellent credit scores (at least 750) and a vehicle with a model year of 2016 or newer.

Specializes in auto refinancing

Gravity Lending offers both traditional and cash-out auto refinancing along with lease buyout loans. The company doesn’t currently offer traditional purchase auto loans.

Borrowers can defer payments for up to 90 days

Gravity Lending allows its borrowers to skip payments for 90 days after closing on the loan, which could be beneficial for those seeking financial flexibility in the short term. Just be sure to check whether you will continue to rack up interest charges on your loan during this period.

Restrictions on eligible vehicles

Gravity Lending only offers auto refinance loans with balances of $10,000 or more. Additionally, the company doesn’t offer refinance loans on cars with more than 200,000 miles. If you’re interested in refinancing outside these parameters, you’ll have to look elsewhere.

A closer look at Gravity Lending auto loans

If you’re thinking of applying for an auto refinance loan through Gravity, here are some more details to know:

  • You can get prequalified with a soft credit inquiry through Gravity Lending. If you’re prequalified and decide to move forward with an offer, your chosen lender will complete a hard inquiry to verify information as part of the loan application process, which will affect your credit.
  • You can add or remove a co-borrower when refinancing your auto loan with Gravity Lending. Adding a co-borrower may help increase your chances of approval and allow you to get a better rate and terms. Gravity Lending can also remove a co-borrower, with their consent, from your previous auto loan if it makes sense for both parties. 
  • For an additional cost, Gravity Lending offers products designed to protect your car and loan. Products include guaranteed asset protection (GAP) coverage, depreciation protection, vehicle debt protection, vehicle service contracts and vehicle protection plans.

How to apply for a loan from Gravity Lending

You can prequalify for an auto refinance through Gravity Lending online or over the phone. A Social Security number is not required to get a quote. You can expect to provide the following:

  • Name and contact information
  • Birthdate
  • Vehicle year, make, model, mileage and trim
  • Current loan balance
  • Mortgage/rent payment

You’ll also need proof of employment and income, proof of residence, proof of insurance and vehicle information including your VIN. If you’re approved, you’ll see offers from lenders in Gravity Lending’s network and select one. That lender will then complete the application process with you.

FAQs about Gravity Lending auto refinance

How does Gravity Lending work?

Gravity Lending is an auto refinance aggregator that connects potential borrowers with lenders. Once you fill out an application for a refinance loan, the company will connect you with lenders that can help you refinance your vehicle.

What are some downsides of refinancing a car?

Once you accept an auto refinance offer, your lender will usually do a hard pull of your credit, temporarily lowering your credit score. Depending on your chosen loan terms, you may pay a higher monthly rate or more in interest over the life of the loan.

Where is Gravity Lending based out of?

Gravity Lending is headquartered in Austin, Texas.

Not sure if Gravity Lending is right for you? Consider these alternatives.

  • RateGenius: RateGenius could be a good option if you’re looking for help with managing the refinance process.
  • AutoPay: This lending platform could be ideal if you want a low APR and can qualify.

About the author: David Heiling is an assigning editor at Credit Karma, specializing in auto insurance and auto loans. He strives to make financial fitness accessible and relatable to people in all stages of their financial journeys. A… Read more.