New car, used car, classic car and refinance auto loans are all available, while away from the road, LightStream also excels when it comes to the best personal loans and debt consolidation too. LightStream customer reviews and complaints Truist owns LightStream, and so its reviews fall under the bank’s BBB profile. Their APRs start as low as 3.49% and only top out at 17.29%. The arm is best suited for customers with “good credit” or “excellent” credit profiles or with years of credit history, who want a straightforward auto loan process. LightStream Auto Loan Review. LightStream allows you to pre-check rates for new auto purchases, used auto purchases from dealers, used auto purchases from individuals and auto loans refinancing. Covering almost anything you could possibly think of under the banners of auto, home improvement, family life and recreation, options such as aircraft loans and horse ownership financing sit alongside adoption loans and hot tub financing. Good reviews: LightStream auto loan reviews are generally positive. Want fast funding. LightStream Auto Loan Review. New York, On the downside, the inability to speak to someone if you need support will deter some, but if you're searching for the best auto loans and want a slick and straightforward online platform through which to do it, LightStream is very hard to beat. However, LightStream will not accept information being relayed to it over the phone, by fax or email; if you need support with your application, there is an online form - and there is no contact phone number on the site. LightStream has no vehicle restrictions on make, model or mileage. Share. The overall rating of the company is 1.6 and consumers are mostly dissatisfied.. The entire auto loan application process is managed online and this is where LightStream really shines. Surveyed consumers ranked LightStream highest in offering and terms, application and approval process, and loan management. In addition to auto loans, Lightstream also makes personal loans that can be used for home improvement, large purchases, or debt consolidation. Please refresh the page and try again. According to Finder, as many as 44 percent of Americans rely on an auto loan to pay for both new cars and used cars. All financial products, shopping products and services are presented without warranty. If your credit is less than top-tier, your interest rate will be higher, which means your monthly payment will be more and, over time, you’ll pay more interest. We believe everyone should be able to make financial decisions with confidence. Cons. December 31, 2020. LightStream was first mentioned on PissedConsumer on Feb 11, 2016 and since then this brand received 32 reviews.. LightStream ranks 144 of 871 in Loans and Mortgages category. LightStream offers personal loans at low-interest rates. LightStream is a national online lending division of SunTrust Bank that provides auto loans, personal loans, and refinancing loans through a simple process. While Lightstream loans start at 3.99% APR* (as of 10/27/2020), other competing lenders with similar credit requirements (like Discover and Marcus by Goldman Sachs) start their loan APRs at 6.99%. LightStream provides a full spectrum of auto loans to borrowers with strong credit and healthy finances. You can read more about our methodology here. (NerdWallet doesn’t recommend loans over 60 months.). Hopefully, you'll find the solution first in the FAQ pages, which are really well designed and packed with information. LightStream is an online consumer lending division of SunTrust Bank, and a financial services and credit provider.. LightStream auto loan reviews are generally positive — out of 12 recent complaints to the Consumer Financial Protection Bureau, one involved an auto loan. Read our detailed LightStream personal loans review to learn about the interest rates, terms, fees, loan amounts, and more offered by LightStream. Read our detailed LightStream personal loans review to learn about the interest rates, terms, fees, loan amounts, and more offered by LightStream. There system messed up, called in for final payoff, clicked the "payoff final amount", and my loan is still having problems! LightStream auto loan refinancing may be a good fit for those who: Have excellent credit. Cons. Here's a breakdown of some of the benefits and drawbacks of LightStream personal loans. The ability to talk to customer service wouldn't go amiss, but overall, LightStream is a terrific auto loan option. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Personal Loans Home Loans Auto Loans. LightStream provides low-rate auto loans for purchases and refinancing, but only for borrowers with good credit. Good credit required: To qualify for a LightStream auto loan you’ll need a credit score of at least 660 or better. LightStream offers both secured and unsecured auto loans and an APR-besting program, “Rate Beat.” Written by: Sarah Brady All financial products, shopping products and services are presented without warranty. (NerdWallet doesn’t recommend. How we rated LightStream auto loans. LightStream - Read unbiased reviews of LightStream, rated 5.0 out of 5 stars by 633 users. Min $100 payments, some payments take up to 4 days to pull and they charge you interest in the meantime! LightStream is the national online consumer lending division of SunTrust Bank, which … LightStream attracts borrowers with its low rates, no fees and a $100 loan experience guarantee. LightStream Auto Loan Review. However, many LightStream customer reviews show accounts of customers complaining about transparency issues and qualification difficulties. © And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. Good credit required: To qualify for a LightStream auto loan you’ll need a credit score of at least 660 or better. Get the best reviews, product advice, news and more! However, LightStream has a rather narrow band of interest rates because of its focus on customers with excellent credit. LightStream, a subsidiary of Sun Trust Bank, offers an array of loans to clients. LightStream charges no fees on its personal loans and is even willing to beat competitors’ rates by 0.1 percent (with some restrictions). You can also pay your loan off early without penalty. LightStream’s auto loans received a 4.88 / 5.00. While LightStream provides as much information about the auto loans process and rates as possible, there's the occasional cause for frustration. While the majority of LightStream loan reviews are positive, customers don’t give this lender great marks across the board. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Thank you for signing up to Top Ten Reviews. Anna Serio. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Whether you are seeking a loan for a personal event such as a wedding, to remodel your home or finance the purchase of a car, they offer reliable financial solutions. Our partners compensate us. NY 10036. Share. Online applications only (no email, fax or telephone applications). By The bottom line: LightStream is a good fit for those with excellent credit looking to buy a new or used car — either from a dealer or private party — or to finance a classic car, buy out a lease or refinance an existing loan. Once you accept an offer, funds can be directly deposited within one business day (if all documents are completed by 2:30 p.m. To review LightStream, NerdWallet collected more than 15 data points from the lender, and compared the lender with others that seek the same customer or offer a similar product. LightStream is an online lender that offers personal loans. LightStream is a national online consumer lending division of SunTrust Bank, one of the nation’s leading financial services companies. When evaluating offers, please review the financial institution’s Terms and Conditions. Importantly, there is no loan pre-approval when taking out an auto loan with LightStream, meaning your credit score will always be impacted as a result of the hard inquiry that the company will pull. LightStream’s best rates are available only if you have excellent credit. Though it’s the lending arm of SunTrust Bank (soon to be Truist Bank), its loan offerings are open to anyone in the U.S. LightStream does cater more toward borrowers with excellent credit indicated through the $100,000 borrow limit and credit history requirements. No preapproval process: Unlike many lenders, you’ll have to complete a full application in … To review LightStream, NerdWallet collected and compared more than 15 data points against other lenders that seek the same customer or offer a similar product. Good credit customers may qualified for an unsecured loan that does not require a lien on the vehicle. LightStream has no vehicle restrictions on make, model or mileage. Our opinions are our own. In terms of features, using AutoPay really is a must given the rate discount it awards. LightStream Auto Loans review: Service. There is a welcome transparency about the rates you can expect to pay, along with the 'rate beat' guarantee and discount for using AutoPay. LightStream is likely to have a loan solution for you, whatever your requirements. Pre-qualified offers are not binding. It also has a small mixed bag of reviews on Trustpilot that veer negative. NerdWallet that has been carried by USA Today, Yahoo Finance and others. Pre-qualified offers are not binding. LightStream’s auto loans received a 4.88 / 5.00. Many or all of the products featured here are from our partners who compensate us. To be adjudged to have “good credit”, LightStream says you will likely need several years of credit history, as evidenced by credit card borrowing, installment debt and mortgage borrowing. Consumers reviews also … Application process: Entirely online  Good reviews: LightStream auto loan reviews are generally positive. LightStream auto loan review: Funding for nearly every type of car. J.D. Good credit customers may qualified for an unsecured loan that does not require a lien on the vehicle. LightStream offers almost every kind of loan available, from auto loan finance and refinance options, to horse and aircraft loans with low fixed rates. It’s not about getting a loan — it’s about getting what you want. Good reviews: LightStream auto loan reviews are generally positive. Competitive rates. Your credit report will also determine whether your LightStream loan will be an unse… Best for borrowers with good credit looking for fast refinancing with maximum flexibility. However if you are doing a secured loan and if you plan to sell the vehicle before the loan is paid off then you will not be able to unless you trade it in at a dealer. ET). Use a Lightstream loan to finance repairs, rebuilds or overhauls to your boat engine, navigation system and more. If you are doing an unsecured loan then I highly recommend LightStream, it’s fast, simple, and very convenient. He is the author of 10 books. LightStream auto loans are a great choice if you have a good credit rating and are comfortable with managing everything online. By Ryan Greeley. LightStream has the breadth of loan solutions to cater for almost any borrowing need, but it is as a provider of some of the best auto loans that it really stands out. Read Customer Reviews In respect of fees, there are none. However, the lender also does not have any restrictions on vehicle age, make and mileage. LightStream emphasizes the importance of a good credit rating and sufficient income and assets from the outset. 1.6 and consumers are mostly dissatisfied.. how we rated lightstream auto loans for,... 0.50 % lower annual percentage rate if you have a loan, but only for with. 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