Your refinancing questions, answered.
Before you apply, get the answers that matter.
Get My RateWhat factors go into qualifying for a refinance?
When you apply to refinance with Gravity Lending, we’ll need a few pieces of information about you and your vehicle. This information helps us find the best terms you qualify for and helps us pair you with one of our lending partners. Please visit our documents needed section for further details.
How much does it cost to refinance my auto loan?
It costs you nothing to refinance with Gravity Lending – we do not charge you any fees for our service. Your new auto loan will only include the loan amount, any fees associated with title transfer, any fee your state charges, and the cost of GAP – VSC – Depreciation Protection if you choose to obtain them.
What is a Vehicle Service Contract and why should I include it into my loan?
Vehicle service contracts designed to help protect you from the cost of vehicle repairs beyond your
original manufacturer’s warranty. These contracts help offset the costs of expensive repairs after your
vehicle’s standard manufacturer’s warranty has expired.
So, if you plan on keeping your vehicle for a few years, a VSC can cover costs of repairs,
including parts, labor, and taxes. Please find the full details on our Vehicle Service Contract page.
What is guaranteed asset protection and why should I include it into my loan?
Guaranteed Asset Protection (GAP) helps borrowers and lenders avoid financial loss by waiving all or a
portion of the deficiency between a borrower’s payoff amount on their auto loan and the determining
actual cash value of a vehicle in the event that a vehicle is totaled or stolen, subject to a
loan-to-value maximum.
Having GAP included in your loan can protect your investment. The cost is very affordable and can
protect you against a potential financial burden, and safeguard your hard-earned credit.
Without GAP protection, you may have to pay for your vehicle after it’s gone. Unfortunately, millions of
vehicles are totaled each year by collision, theft, and natural disasters. Many customers are surprised
to learn that their auto insurance settlement is thousands of dollars less than what they still owe on
their auto loan or lease. Please find the full details on our GAP page.
Will auto refinancing affect my credit score?
Gravity Lending will “pull your credit” with a hard pull. The notice for the hard pull is listed in the
form that is filled out when submitting an application. Unfortunately, in order to present legitimate,
credit based offers the credit pull is necessary to verify your credit history.
If you are shopping around for a refinance auto loan, be careful because if there are too many “hard
pulls”, it may affect your credit score.
What loan terms do you offer?
Gravity Lending offers 25-84 month terms. Loan terms vary depending on your credit situation, your vehicle, and other factors. We work with a vast array of lenders, so we can pass on multiple options for you to evaluate. Let our experienced loan officer know what your priorities are, and we will identify the best opportunities for which you qualify.
Why should I refinance through Gravity Lending rather than a competitor?
Gravity Lending is an online platform that prioritizes transparency, offering the most favorable rates
and terms tailored to your personal credit history. Our service involves no hidden fees. The application
procedure is fast, user-friendly, and encrypted with the highest security. You can effortlessly apply to
refinance your auto loan in a few minutes.
If you’re looking to refinance your auto loan from the comfort of your home, Gravity Lending is your
best option. With a knowledgeable and experienced team, we guide our customers through the refinancing
process from start to finish. We pride ourselves in customer-focused service and teaching our customers
the benefits of refinancing to free up extra cash flow.
Check out our reviews to see what our customers are saying. We are confident you will be happy with our
process, our people, and our options. The fact that we have high ratings from our customers who have
already worked with us is another excellent reason. We consistently have highly-rated reviews on Google,
Lending Tree, Yelp, and Facebook.
Do you only refinance cars?
If you have any questions, please feel free to contact our Gravity Lending team. We are standing by to assist you. Call 888-602-1125 or email us at loans@gravitylending.com .