This compensation may impact how, where and in what order products appear. New dealer purchase: 3.34% to 8.34% LightStream car loans are geared towards borrowers with good credit, so if your credit history hasn’t been up to scratch, it makes sense to consider other lenders. The company is progressive and customer-forward in its loans with accessible online applications and proprietary technology. All other trademarks are the property of their respective owners. You can refinance your existing auto loans or get a loan for new and used vehicles. For instance, in our Bank of America Mortgage Review, we give the company a 3.8 out 5 based on our five rating factors for mortgages. LightStream offers competitive rates that vary based on the purpose the loan is being used for, and depending upon loan amount, term and credit profile of the applicant. We follow a rigorous editorial policy designed to keep our writers and editors independent. LightStream Overview. Not all applicants will meet the lending criteria to qualify for a loan. 4.5 / 5 Editor {{ reviewsOverall }} / 5 People (2 votes) Application Process . Providing your information on this Website does not guarantee that you will be matched with a lending platform or approved for a loan. LightStream provides low-rate auto loans for purchases and refinancing, but only for borrowers with good credit. To qualify, you’ll need good credit and sufficient income and assets to support your requested loan, also taking into account debt that you already have. LightStream is a national online consumer lending division of SunTrust Bank, one of the nation’s leading financial services companies. Your credit report will also determine whether your LightStream loan will be an unse… You can get a 0.50% lower annual percentage rate if you set up AutoPay prior to loan funding. Borrowers are required to have a minimum credit score of 660. Alex Deric is a freelance finance and technology writer that brings in-depth investment knowledge and experience to her writing. Lightstream allows customers to borrow as little as $5,000 or as much as $100,000. Rate is quoted with AutoPay discount. Power 2019 Consumer Lending Satisfaction Study℠ to find out how customers rate their experience with each company. Private party purchase: 4.39% to 9.79% Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. This Website provides a service wherein we submit the information you provide to one or more lending platforms and attempt to match you with a lending platform. Auto Loan Expert. Quick Review: Loans from LightStream have some of the lowest interest rates on the market. Procuring an auto loan makes sense, too, especially if you do not have the immediate financial resources to purchase the car in cash. If they are not happy with the experience, they can file a complaint and get a $100 refund. Cons. restrictions may apply. lending platforms may use collection services for nonpayment of loans. Anna Serio. Determines the rating criteria for each factor, Calculate an average of those five factor scores to get one SimpleScore™. That’s not only annoying, but it can mean you have to wait a few days after finding the car. The best rates on personal loans, student loans, and mortgages, Best for borrowers with good or excellent credit who want to compare rates with what the dealer is offering, Home › Review › Loans › Auto Loans › Lightstream Auto Loans. Refinance: 3.34% to 9.19%. This is annoying because it means you can’t line up financing prior to shopping for your vehicle. How we make money: The Simple Dollar is an independent, advertising-supported publisher and comparison service. The rates vary between 2.69% and 4.44%, including the member’s 0.50% APR discount and depending on your credit history and vehicle age. The Simple Dollar does not include all companies or all available products. Tim Fries. LightStream offers products and services that meet a variety of consumer needs, including purchase loans and refinancing for cars, homes, medical bills, and even weddings. LightStream auto finance offers competitive fixed rates for borrowers with good credit. If you accept the loan, you e-sign it, which means that you can receive your funds as soon as the same day. Subject to credit approval. When you apply online, you will get an indicative rate range based on the factors mentioned above. Surveyed consumers ranked LightStream highest in offering and terms, application and approval process, and loan management. 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