Lightstream Auto Loans
Lightstream does not charge prepayment or origination fees, and there are no late payment penalties. Other lenders may require you to pay these fees.
Unlike some lenders, Lightstream will deposit the funds directly into your account and allow you to negotiate a deal with whichever lender you prefer. If you want to buy a used or classic car, there are no age or mileage restrictions, and the car does not need to be appraised.
Lightstream Auto Loans Rates
LightStream auto loans for new and used cars start at 3.99% APR, and car refinancing loans start at 4.99% APR, including the 0.5 percentage point autopay discount. For new loans and refinancing, the maximum APR is 20.49%, with terms ranging from 36 to 84 months.
Lightstream Auto Loans Refinance :
LightStream allows you to refinance a lower-interest auto loan at slightly different rates than those offered on used car loans. You cannot, however, use the loan proceeds to refinance another LightStream auto loan.
If your overall debt and credit have improved since you took out the original auto loan, you may be able to qualify for lower rates.
Suntrust Lightstream Auto Loans
SunTrust, a well-known regional bank with a physical presence in several states, owns LightStream. SunTrust was founded in 1891 in Atlanta, Georgia. Truist will soon be the name of the bank. LightStream, the auto loans division, was established in 2013. The lender provides paperless, online-only loans, as well as the option to fund a car purchase separately from the loan process.
Lightstream Auto Loans Early Payoff :
Yes, you can pay off LightStream loans early, which is a wise decision because it saves you money on interest. LightStream does not charge a prepayment penalty, which means you will not be penalised if you pay off your loan earlier than required.
Lightstream Auto Loans Income Verification Process:
LightStream verifies income for personal loan applicants to ensure that people can repay what they borrow, but no minimum income requirement is disclosed. You must also meet other LightStream requirements, such as being at least 18 years old and a US citizen or permanent resident.
Which Lightstream Auto Loans Are Unsecured
LightStream auto loans in a brief LightStream provides unsecured financing for new and used cars, as well as auto refinancing and lease buyout loans in all 50 states to borrowers. You can use one of its auto loans to buy a car from a dealership or from a private seller.
What Is Minimum Lightstream Auto Loan Can Offer
LightStream provides auto loans for both new and used vehicles, as well as refinancing. All three options have the same terminology: Borrowing amounts range from $5,000 to $100,000, with terms ranging from 24 to 84 months.
Lightstream Auto Loan Requirements
LightStream does not specify any loan eligibility requirements. However, the company seeks borrowers with several years of credit history, credit history with a variety of account types, a good payment history, a demonstrated ability to save, and a stable income. Borrowers with excellent credit, typically defined as a FICO Score above 740, receive the lowest rates.
What To Consider Before Lightstream Auto Loan
For its loans, LightStream doesn’t specify any specific eligibility requirements. However, the company does seek out borrowers with a long credit history, a history encompassing a range of account types, a good payment history, a demonstrated capacity for saving, and a steady source of income.
Benefits Of Using Lightstream Auto Loans :
Here are a few of the benefits of LightStream auto loans.
- Excellent user experience. LightStream is entirely online, and its website is simple and straightforward. The application is simple to use and can be completed on a phone, tablet, or computer.
- Quick funding timeline. Funding is available as soon as the day you apply for a loan with LightStream, and it is deposited directly into your bank account.
- There are numerous repayment options. You can apply for repayment terms ranging from 24 to 84 months, giving you more options for finding an affordable monthly payment.
How Do Lightstream Auto Loans Work?
The auto loan application process at LightStream is entirely online. To apply for a LightStream auto loan, you must provide personal and financial information, as well as information about the loan you want. LightStream will also run a credit check on you. You can sign the loan agreement online if you are approved. If it is a banking business day and you complete the necessary steps by 2:30 p.m. Eastern Time, funds can be deposited into your account the same day you are approved. Otherwise, you can choose a date within 30 days of approval to receive funds. The application process for auto refinancing does not necessitate a car appraisal. LightStream does not provide auto loan pre-approval.
How To Apply For A Lightstream Auto Loans
You can apply for a loan with LightStream on its website. In the application, you’ll need to provide:
- Whether you apply on your own or with a co-applicant.
- The primary reason for the loan.
- Your preferred loan amount and term.
- Name, email address, home address, phone number, housing status, Social Security number, birthdate, and driver’s licence number are examples of personal information.
- Your employment and financial details
- Following the completion of your application, you may be required to provide identifying documents. If you apply during business hours, you may receive a response, electronically sign your loan documents, and receive funding the same day.
Lightstream Auto Loans Qualifications
- FICO credit score of 660 is required.
- Credit history is not required, but it is considered for loan approval.
- Minimum annual gross income: There is no minimum, but income is taken into account for loan approval.
- Maximum debt-to-income ratio: omitted.
- Restrictions imposed by bankruptcy: There are restrictions, but no details are provided.
- All 50 states are covered.
Who Is Lightstream Best Suited For?
LightStream is ideal for drivers who need to finance or refinance a vehicle quickly. LightStream has an easy-to-use website, a streamlined online application process, and in some cases, same-day funding.
How Long Does It Take for LightStream to Approve Auto Loans?
If you have good credit, you will be approved quickly and easily. Normally, funds are made available within 24 hours. In some cases, the funds are even available the same day.
Lightstream Auto Loan Pre-Approval
LightStream does not offer loan pre-approvals or admit application information over the phone, fax, or email. To be considered for a loan, you must fill out and submit our online application. Besides, even if you are approved for a loan, you are not required to accept the loan.
Lightstream Auto Loans Reviews | Review Of Lightstream Auto Loans
LightStream may be a good option for you if you have a credit score of at least 660 and need an auto loan or a refinancing option for an auto loan.
As with most loans, the higher your credit score, the better the loan terms you will be offered. You can get an APR as low as 2.49% with LightStream. There are no vehicle restrictions, and classic cars can even get an auto loan through LightStream. You want to make sure you don’t lose the vehicle you want to buy to someone else.
LightStream provides financing within 24 hours of approval, and you may be able to receive funds the same day.
Is LightStream a Good Lender for Auto Loans?
If you have good credit, the rates on LightStream auto loans are fantastic, starting in the mid-2% range and with funds available within 24 hours. However, if your credit score is low, your rates will almost certainly be higher than with other auto loan lenders.
Are Lightstream Car Loans Safe And Secure?
LightStream auto loans are secure. LightStream is backed by Truist Bank, has an A+ BBB rating, provides customer service six days a week, and you can get your loan within 24 hours.
Is A Lightstream Auto Loan Worth It?
Yes, if you have a high FICO credit score, you should apply for LightStream. While other lenders may offer lower rates, LightStream’s APR range is competitive. They provide unsecured car loans, which many lenders do not, and they do not impose vehicle age, mileage, make, or model restrictions.
Don’t rely on a dealership to find you the best APR. Get a preapproval or, if you already know what vehicle you want or how much you want to borrow, a loan offer from a few lenders. Look into what your local bank or credit union has to offer, read other auto loan reviews, and don’t be afraid to apply to more than one lender as long as you complete all applications within a two-week period.
Are Lightstream Auto Loans Trustworthy?
Yes, LightStream auto loans are legitimate. Truist Bank, formed by the merger of SunTrust Bank and BB&T Bank, is LightStream’s financial backer.
Lightstream Auto Loans Credit Score | What Credit Score Is Needed For A Lightstream Auto Loan?
Minimum Credit Score Needed For A Lightstream Auto Loan is 660.
When applying for LightStream auto loans, you must have a minimum credit score of 660. As with any loan, the higher your credit score, the better the rates and terms.
Is there a LightStream App?
Yes, LightStream customers can use the company’s app to view, manage, and interact with their loan accounts. Customers can make payments, change account information, and do other things.
Lightstream Auto Loan Rebuilt Title
There are lenders who will finance cars with rebuilt titles, Lightstream being one of them. Remember that you can always get a personal loan.
Lightstream Auto Loan Prequalify
LightStream, unlike many other online lenders, does not have a prequalification process. To find out if they qualify, prospective borrowers must fill out a formal application and submit to a hard credit check.
Lightstream Auto Loans Contact Us Phone Number | Telephone Number
LightStream provides customer service through an online form, but there is no phone number for general inquiries. Monday through Friday, 10 a.m. to 8 p.m. ET, and Saturday, 12 p.m. to 4 p.m. ET. LightStream’s website or app has information about your application or loan available 24 hours a day, seven days a week.
Lightstream Auto Loan Address
PO Box 117320
Atlanta, GA 30368-7320
Are Lightstream Auto Loans Unsecured?
LightStream’s auto loans are all unsecured, giving borrowers more options. If you are dissatisfied with your experience, the online lender may pay you $100, subject to certain conditions.
How Does Lightstream Auto Loan Show On My Credit?
If you decide to give LightStream a try, go to the LightStream website and enter the following information:
Loan type, loan amount, and preferred loan term
Address, Social Security number, and the last four digits of your driver’s licence are examples of personal information.
Employment, income, and asset information, such as the amount of money in bank accounts, stocks and bonds, and retirement assets.
If you accept a LightStream auto loan offer, you will be given the title to the vehicle once the loan is approved, and the financing will appear on your credit report as a personal loan. This is in contrast to most auto loans, which are examples of secured financing in which the lender keeps the title and the loan is designated as a “auto loan.”
Which credit bureaus does Light stream auto loan use?
Truist Bank serves as Lightstream’s credit bureau for loan funding, including fixed rate personal loans, debt consolidation loans, home improvement loans, a car loan, and home loans. The Truist Financial Corporation was formed in 2019 by the merger of Branch Banking and Trust Company (BB&T) and SunTrust Banks.
Truist Bank will consider a variety of factors before determining your loan eligibility and terms, including the interest rate on your loan. These factors include your credit report, loan amount, debt-to-income ratio, and even the loan purpose.
If you are approved for a loan, your monthly payments and interest rates will vary greatly depending on the aforementioned factors considered by Truist Bank.
What Is The Difference Between Dealership And Individual Used Auto Loan From Lightstream
We direct deposit funds into your account. This saves you time at the dealership and gives you the ability to negotiate the best deal possible—from any dealer. With LightStream, you have complete control over the loan process. You choose your funding date, and funds can be deposited into your account as soon as the day after you apply.
Why Are Lightstream Auto Loans So Cheap ?
LightStream auto loans have competitive interest rates. If you qualify, it may be one of the best deals available due to its rate match programme. LightStream can beat competitor rates if the competitor’s APR meets certain terms and conditions. It also has one of the most diverse loan amounts, ranging from $5,000 to $100,000.
Which credit agency does Lightstream auto loan use?
LightStream pulls a hard inquiry from TransUnion or Equifax
How To Cancel Lightstream Auto Loan
You can choose not to renew or cancel your subscription by clicking on the “Cancel plan” link in the Subscription view of your account settings or by contacting customer support.