In today’s hyper-digitized world, there seems to be some form of online matchmaking platform for virtually any service imaginable. In the realm of fintech, specifically, it can be easy for consumers to feel overwhelmed with the sheer amount of lending product options available. Scouring through the array of fintech companies offering matchmaking services for lending options and products that fit an individual consumer’s particular needs can rapidly feel cumbersome and exhausting. As such, the companies that offer services like these need to do more to stand out from the crowd and draw the attention of potential customers.
One such company is Gravity Lending. Based out of Austin, Texas, Gravity Lending is an online marketplace that connects consumers with lenders to help them find the best rate and terms on auto refinancing, all without the fear or worry of additional fees or hidden costs. With an average customer rating of 4.9/5 stars on Google and being named one of the Best Places to Work in both 2020 and 2021 by the Austin Business Journal, their commitment to excellence — both for their company and customers alike — has helped propel the fintech startup into the best-rated auto refinancing companies operating in the market today.
“Gravity Lending is a start-up fintech company currently specializing in auto refinance and personal loans,” says the company’s Director of Marketing & Development, Jeremy Chrstle. “We also have product offerings including Guaranteed Asset Protection (GAP), Vehicle Service Contracts (VSC), Debt Protection, Vehicle Protection Plans and Depreciation Protection. On average we save our clients $119/month at no extra cost from Gravity Lending, and refinancing your auto loan can defer payments for up to 90 days, providing customers with additional means to save even more when they choose to refinance their auto loan with us. Imagine what you could do with another $119 a month!”
The application process is fast, secure, and easy. Because Gravity Lending has worked to streamline the application process for their customers to include a mere four simple steps, the entire process itself often takes only 5 minutes or less. To get started on their auto refinance application, Gravity Lending’s customers only need to include the following information:
Personal contact information (name, email address, and phone number)
Loan request information (vehicle make, model, year, mileage, and estimated total payoff amount)
Applicant information (date of birth, social security number, and residential and employment information), and;
Wait for the application to be processed and approved
Gravity Lending’s customers even have the ability to upload and sign official documents from the application process from their phone screen, and funding happens quickly, anywhere between 5-15 business days, depending on the specific details of the loan application and lender terms.
Throughout the application process, customers have one point of contact at Gravity Lending — a loan officer — who is trained to walk the customer through the application process in order to make it as simple, easy, and quick as possible. Each customer whose application is approved is able to receive a loan amount between $10,000 (minimum amount loaned) and $180,000 with repayment terms varying between 24-84 months. Customers who opt to apply for auto refinancing through Gravity Lending also only need to show proof of a combined minimum application income of $1,800/month with a minimum credit score of 550 for a subprime loan or 640 for a prime loan on their personal automobile.
At this time, Gravity Lending does not handle, process, or approve loans requested for commercial vehicles.
“Our loan offers are custom to meet the customer’s personal needs,” says Christle. “Whether they are looking to lower their monthly auto payments, buyout an existing auto lease, extend the terms of their auto loan, or even simply wish to add or remove a co-signer on their auto loan documentation, our experienced loan officers can help. Even if you aren’t sure if you want to refinance, or need more information before you want to make a formal decision to refinance your auto loan, our soft credit-pull application process can tell you the options available to you through our company and lending partners without the process affecting your credit.”
As Christle tells us, this process is one of the primary reasons why Gravity Lending has received such overwhelmingly positive feedback from its customers. Gravity Lending’s leadership team and loan officers alike are dedicated to their work in processing loan applications and are determined to find a loan that fits a customer’s personal needs. In the past year alone, Gravity Lending’s loan approval rate has increased by 37%.
Because Gravity Lending is a regulated lender, they must follow the same guidelines as any major bank would throughout the process of refinancing an auto loan. While no one can entirely prevent malicious attacks and hacking, Christle tells us that Gravity Lending takes every possible measure to protect each customer’s secure and private information through encryption and firewalls to prevent unauthorized usage. Furthermore, only those who need to see your information (that is, Gravity Landing’s lenders and lending partners) will be able to view or access it.
If you’re looking to refinance your auto loan from the comfort of your home, Gravity Lending may be a very good option for you.