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AutoGravity
7.7
ratings

Overview

AutoGravity Corporation is a financial technology organization which developed a digital platform to provide leasing and financing options to their customers. Daimler AG, the parent company, launched the AutoGravity app in 2015.

The headquarters of this company is in California. By using this app, you can get to purchase new and used cars. Thus, it serves as a bridge between car buyers and lenders and dealers.
AutoGravity is a unique app that provides many features for buying and financing cars.

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Pros

  • Simple application process
  • Loan approval despite bad credit
  • Provides leasing and financing options

Cons

  • Limited options of car models
  • Monthly installment excludes additional fees
  • Limited information about leasing cars

Disadvantages

Many customers complain that they did not find many car models in their area while searching. They claim about offering car leasing options, but it is difficult to get such information on their app.

Advantages

AutoGravity provides you with a platform to search and finance a vehicle at the same place. You can also find information about leasing cars on this app. You can get the estimated value of the monthly installment. The app has a simple loan application procedure. After submitting your loan application, you can get loan approval and the interest rate offered instantly.

Other offerings

Along with loan options, you also get the opportunity to select different cars. AutoGravity helps you find the car of your choice at a very reasonable price. With this app, you can get offers from various dealers, and you can also negotiate with them on the basis of the new car pricing check tool.  A variety of big brands associated with AutoGravity showcase their latest cars on the app. By utilizing this app, you will not need to check different websites. You can search hundreds of cars on one app, and that is, AutoGravity.

Terms and conditions

The AutoGravity loan process depends on various factors like credit score, down payment, loan amount, interest rate, and trade-in value, if any. They provide you with a reasonable monthly installment. According to the fine print provided by AutoGravity, this monthly payment amount does not include a license fee for the vehicle, title fee, any taxes as well as dealership fee. You have to pay these costs separately. The structure of the monthly installments will be based purely on the details provided. It is not necessary that the figure of the estimated installment is the lowest sum. Moreover, the down payment will also have an impact on your monthly payments.

Most people think that AutoGravity provides auto loans to customers directly. However, this is not true. This company only provides a platform that allows customers to find the best deal by comparing different options.

Tools offered

AutoGravity offers a car loan payment calculator tool to its customers. This tool can help car buyers evaluate their spending capacity before deciding upon the car model. The tool also provides information about the estimated monthly payment. Using this information, one can choose a car that fits their budget.

Another tool offered by AutoGravity is the new car pricing tool. With this tool, customers will get an idea about the range of prices that people are paying for a similar vehicle near their location. With this information, a buyer can negotiate for a better price on the vehicle of their choice.

Another tool available with this app is Gap protection. This tool will assist you in paying any out-of-pocket bills.

Credit score

After the submission of a credit application, the lending companies will check your credit information. They will decide about approving your loan based on your credit score. With AutoGravity, you will get four offers from different lending companies based on your credit score. Even if you have a bad credit score, AutoGravity will help you get a loan approval. However, a bad credit score will make an impact on the interest rate that the lenders offer. Additionally, you may also have to pay a higher monthly installment if you get a loan with a high interest rate.

Applying for a loan

AutoGravity offers loan options from different lending companies. You can get quotes from varied financial service companies like US Bank by providing your personal information. For making an auto loan through AutoGravity, you have to complete the procedure in four steps. Firstly, you have to provide personal information about yourself like your name, date of birth, and other details. In the second step, you have to give detailed information about your residential address. The third part of this procedure entails providing information regarding your employment. In the fourth step, you have to provide your social security number and other identification details.

AutoGravity