REFINANCE
Gravity Lending: Best for no fees
4.0
Bankrate Score = 4.0/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
The annual percentage (APR) includes your interest rate, plus any loan fees. It reflects the total cost of borrowing.
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This lender is registered in states where it does business and was vetted by the Bankrate Editorial team.
Refinancing your auto loan through a marketplace can help you find the right lender. Gravity offers a side-by-side comparison and stands out for its lack of origination fees — although a lender in its network might charge one when you refinance.
- Minimum loan balance of $10,000
- None
Pros
- Ability to add or remove co-borrowers
- Loan officer customer support
- No origination fees
Cons
- Potential long funding timeline
- Unknown maximum rate
- Vehicle restrictions
*When comparing identical loans offers at the same term length, principal balance, and interest rate, a loan without a fee will have a lower total payback compared to a loan where a fee is assessed. Gravity Lending does not assess a fee to the borrower for any of our products or services. When comparing 2 loans with the same buy rate, principal balance, and term length, a loan with a marked up rate will cost the borrower more. Gravity Lending does not mark up rates offered to consumers from our lender partners. Gravity Lending processes loans on behalf of the lenders for the benefit of the customer. **Monthly and Total Savings: Average monthly payment and total interest savings shown were calculated from all funded loans in 2022. Payment is a calculation of the approved interest rate, selected term, and amount financed. Your actual savings may differ, more or less, depending on a combination of the rate approved, the term selected, and the total amount financed. *** Gravity Lending has the highest average satisfaction scores, at a 4.97 average review score, across the following platforms: Better Business Bureau, Google, TrustPilot, Lending Tree, Consumer Affairs, and Wallethub. You are not required, encouraged, guaranteed the option to skip a payment. Generally, auto loans have a grace period of 30-45 days to contract a first payment. Many lenders in the Gravity Lending network offer up to 90 days from the contract date before a first payment is required.