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Auto Approve vs Gravity Lending

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Pros
  • Online quote and calculator tools
  • Pre-qualification with a soft credit check
  • Added coverage and protection option
  • 12 to 84-month loan terms
  • 45-day payment-free period
Pros
  • No hidden fees
  • Competitive rates
  • Soft credit pull
  • A+ BBB rating
  • User-friendly online application
Cons
  • Not a direct lender
  • No new or used car loan options
  • Lender partner network not disclosed
  • Lack of transparency regarding loan details
Cons
  • Higher credit score requirements
  • Vehicle restrictions
  • Longer funding timeline
Summary

Auto Approve, established in 2016 and based in North Plymouth, Minnesota, offers auto loan refinancing and lease buyout services. They aim to streamline the process for customers looking to reduce monthly payments or purchase their leased vehicles. Serving a variety of vehicles, including cars, trucks, motorcycles, and RVs, Auto Approve partners with a network of lenders to provide refinancing options tailored to individual needs. A key feature of their service is the online application process, which allows for pre-qualification without requiring a Social Security number. They also offer optional GAP insurance to protect against vehicle depreciation. While some customers appreciate the efficiency and flexibility, others have noted concerns with communication during the process. Auto Approve holds an A+ rating from the Better Business Bureau (BBB), reflecting their commitment to resolving customer issues. If you’re interested in exploring how their services could meet your refinancing needs, take a closer look at the full review for more insights into their offerings and customer experiences.

Summary

Gravity Lending was founded in 2015 in Austin, Texas. The company specializes in simplifying auto loan financing through its innovative online marketplace, enabling borrowers to compare refinancing offers from about 70 lenders nationwide. They stand out by offering no-fee, low-interest-rate auto refinancing, and lease buyout services. Their streamlined online application process allows clients to customize loans to meet their financial needs, with an average customer savings of approximately 18% of their original loans. Gravity Lending has funded over $7 billion in loans and maintains an A+ rating with the Better Business Bureau (BBB), underscoring their commitment to transparency and customer satisfaction. With no hidden fees and personalized support from dedicated loan officers, they have a reputation for delivering top-tier auto refinancing experiences for borrowers across the United States. For a deeper dive into their offerings and customer experiences, explore the full review.

Quick Stats
  • Loan Terms : 12 to 84 months
  • Minimum Accepted Credit Score : Undisclosed
  • APR : Undisclosed
  • BBB Rating : A+
Quick Stats
  • Loan Terms : Between 25 and 84 months
  • Minimum Accepted Credit Score : 760
  • APR : Starting at 4.99%
  • BBB Rating : A+
Selling Points
  • Social Security number not required for a quote
  • 90-day payment deferral available
  • Co-signers permitted
  • Auto lease purchasing
Selling Points
  • Large nationwide lenders'' network
  • One-on-one support
  • Defer first payment for up to 90 days
  • Flexible payment terms
Multiple Financing Options
  • Lease Buyout
  • Loan Refinancing
  • New Vehicle
  • Undisclosed
    Private Party
  • Used Vehicle
Multiple Financing Options
  • Lease Buyout
  • Loan Refinancing
  • New Vehicle
  • Private Party
  • Used Vehicle
Additional Services
  • Extended Warranty
  • GAP Insurance
  • Limited Warranty
  • Mobile Application
  • Online Account Management
  • Return Policy
Additional Services
  • Extended Warranty
  • GAP Insurance
  • Limited Warranty
  • Mobile Application
  • Undisclosed
    Online Account Management
  • Undisclosed
    Return Policy
Eligibility Requirements
  • Undisclosed
    Hard Credit Check
  • Undisclosed
    Income
  • Undisclosed
    Minimum Credit Score
  • Pre-qualification With Soft Check
Eligibility Requirements
  • Hard Credit Check
  • Undisclosed
    Income
  • Minimum Credit Score
  • Pre-qualification With Soft Check
Fees & Costs
  • Undisclosed
    Documentation/Processing Fee
  • Undisclosed
    Late Payment Fees
  • Undisclosed
    Origination Fee
  • Prepayment Penalties
  • Title Transfer Fee
  • Upfront or Application Fees
Fees & Costs
  • Documentation/Processing Fee
  • Undisclosed
    Late Payment Fees
  • Origination Fee
  • Undisclosed
    Prepayment Penalties
  • Title Transfer Fee
  • Upfront or Application Fees
Payment Options
  • Undisclosed
    Automatic Payments
  • Undisclosed
    Cash
  • Undisclosed
    Check
  • Debit or Credit Cards
  • Undisclosed
    In-Person Payments
  • Undisclosed
    Mail-In Payments
  • Undisclosed
    Online Payments
  • Phone Payments
Payment Options
  • Undisclosed
    Automatic Payments
  • Undisclosed
    Cash
  • Undisclosed
    Check
  • Debit or Credit Cards
  • Undisclosed
    In-Person Payments
  • Undisclosed
    Mail-In Payments
  • Online Payments
  • Undisclosed
    Phone Payments
Customer Support
  • Articles and Videos
  • Email
  • FAQs
  • Help Guides
  • Live Chat
  • Phone
Customer Support
  • Articles and Videos
  • Email
  • FAQs
  • Undisclosed
    Help Guides
  • Live Chat
  • Phone