The key feature of LightStream's online personal loans is that they can be up to $100,000 and used for nearly any reason. A few repairs don't make sense but an uninsured 22k used car does? Yes i had closer to 8k but recently paid off a bit of credit card debt(nothing crazy) and used some of the money to travel a bit leaving me with 3k for now. Spending more than half your annual income on a car that you plan not to insure is a bad idea. It’s not about getting a loan — it’s about getting what you want. Anyone can apply for a LightStream auto loan online and expect to receive a response in a matter of minutes. Great rate, never had any issues. Awesome these are the results i was hoping to hear, is your loan secured or unsecured? Press question mark to learn the rest of the keyboard shortcuts. My credit was 780-800 at the time and my credit history was ~10 years long. In truth, you should buy a cheaper used car. They may not be cool or sexy, but they’ll get the job done until the mishaps time out of your insurance company’s view. I have a loan through Lightstream … I have no debt whatsoever and about $3000 in savings. LightStream is the national online consumer lending division of SunTrust Bank, which recently became Truist after merging with BB&T. Autopay is set up to start in June. I have no problem making car payments but due to where I live and my driving history i’d be paying more for insurance than on my actual car payment. LightStream Application Process. Used for and auto loan a few years ago. At LightStream, we care about the environment and, more importantly, we try to do something about it.For one, we have created a virtually paperless consumer loan experience at LightStream. They asked for proof of employment (pay stubs), but otherwise it was an easy process. From reading some posts here I understand most lenders require full coverage. So i hope to get a used car in the next 5-6 months. Applying takes just minutes, and you get a quick response during business hours. Because of these tickets any full coverage I attempt to buy is 500-700 a month which is just ridiculous and not feasible. I got a Lightstream loan for my car. Low DTI. Not much physical presence on the West Coast but huge in the Southeast. Competitive interest rates. Press question mark to learn the rest of the keyboard shortcuts. Press J to jump to the feed. 3: Are there any better options for someone in my situation you might suggest? This amount can be delivered directly to your bank account, often as soon as the same business day. All of LightStream’s auto loans are unsecured, which means more flexibility for borrowers. You can get super reliable cars for less than 5k. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. APR range: The APR for this loan is 3.99%; to 19.99% APR. My interest rate is irrelevant because it was a few years ago and rates have gone up since … In CA, I think that takes 6 years. I also just got approved for a loan this week with a 9.65% rate. Available assets. 5. Wait...did you get your loan first before researching online? 2. LightStream is the online lending division of SunTrust Banks Inc. LightStream is an online lending division of SunTrust Bank that offers fixed competitive rates and flexible terms on loans from $5,000 to $100,000. For example, the interest rate … What you need to know about LightStream personal loans. 4. LightStream will offer a rate .10 percentage points lower than the rate offered by a competing lender subject to satisfactory evidence being provided that you were actually approved for a lower rate with another lender for the same loan terms offered by LightStream by no later than 2 p.m. Eastern time one business day prior to loan … I got a Lightstream loan for my car. Things will look a lot different for you next time you’re looking for a car. The typical LightStream customer has a minimum FICO score of 660. It’s Saturday, I have it set up for the funds to be wire … I have had my job for 2 years now. I went ahead and finished my Lightstream loan … The lender also considers your: 1. Credit score and credit history. They offer low interest, unsecured loans for highly qualified customers. The repairs would cost about as much as the value of the car. At 22 and living at home your financial situation is likely to change a lot in the next few years. They're in the middle of a buyout (BB&T bought SunTrust this year). New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Your credit report will also determine whether your LightStream loan will be an unse… I just have it on auto pay and I don't have to worry about it. Requested loan amount. I have a 5.04 interest rate at 60mo. Personal loans … What you should know about LightStream auto loans. Had a loan of about 16.5k, used, credit history about 5 years with a 675-700 score. LightStream - Read unbiased reviews of LightStream, rated 5.0 out of 5 stars by 633 users. I have a make and model picked out that will run me hopefully around $22,000. Loan amounts range from $… If lightstream is sub 5%, you’re doing fine on cost. Payment record on all loans and credit cards. Lightstream personal loans. I want to use Lightstream (a subsidiary of Suntrust bank) to purchase a car. Great, seamless experience. I applied and was approved for an unsecured loan for a classic car from Lightstream. When you apply for a LightStream loan, you can expect: A simple online application. Here are some key features of LightStream personal loans. Has anyone used Lightstream before to take out a personal loan? You can apply for a loan … I got approved for a $5k loan with a 12% APR and after doing some research online this company seems legit, but just curious … Used them for auto - offered me a great rate when others wouldn't, and seamlessly dealt with a few oddities that popped up. Buy a beater now, if you need to buy something new at all. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. We were approved at 6.84% APR for 60 months (the lowest advertised rate) our Equifax scores were 790 and 771 with $150k in annual income. You have $1500/mth in disposable income but only $3k in savings? I got one for my car. I still carry collision and comprehensive insurance. This stems from their focus on good to excellent credit consumers. Competitive rates. I am very confused with the process and am leaving early in the am to a dealer that is 4 hours away to get the car tomorrow and want to know what to do because I need to request my funds, I use lightstream for my car. I need to get a new car because my current one will only last about the next 4-5 months due to repairs needed that wouldnt make financial sense. LightStream offers "The AnythingLoan" which can be used to finance your new or used, private party or dealer, car purchase. Join our community, read the PF Wiki, and get on top of your finances! Loan terms vary from 24 months to 144 months, with annual percentage rates ranging between 3.99 percent and 16.99 percent. I wouldn’t recommend a car payment that is almost 25% of your take home pay, especially with only liability coverage. At LightStream, we care about the environment and, more importantly, we try to do something about it.For one, we have created a virtually paperless consumer loan experience at LightStream. I’ve never been in an accident but i got 2 tickets that stayed on my record because I paid them without doing traffic school. A LightStream auto loan offers few restrictions and low rates starting at 2.49% for customers with strong credit scores (660+). LightStream personal loans work best for borrowers with good credit and several years of credit history. Lightstream auto loans has some of the best rates available, largely because they have created their business around supplying loans … Still, as of 1/6/21, a loan from $5,000 – $9,999 with a 24-36 month term would range between 4.99% – 17.99%. Terms: LightStream loan terms range from 24 to 144; months. Your exact rates and monthly payments will be determined by your credit history and profile. One of LightStream’s main selling points is that it offers a variety of auto loans. 1 . (Young and didnt know any better). At LightStream, we care about the environment and, more importantly, we try to do something about it.For one, we have created a virtually paperless consumer loan experience at LightStream. Rates will also vary by loan type. You can get a 0.50% lower annual percentage rate if you set up AutoPay prior to loan funding. Read our review of LightStream and compare loans. Im 22yo and have a good paying job(40k a year). Make sure you read the fine print. They have an option for purchasing used cars and there interest rates they quoted me … LightStream’s unique lending model has rates that are dependent on the purpose of the loan. I got approved for a $5k loan with a 12% APR and after doing some research online this company seems legit, but just curious if anyone has any experience with them, They're a division of SunTrust Bank. That’s why LightStream has reinvented lending. By eliminating paper almost entirely from the LightStream loan … Accepted and they deposited the money next day. There are no appraisals, paperwork, or … LightStream provides loans for new and used dealer purchases, as well as private party purchases and lease buyouts. 3. Requested loan purpose. I also made twice as much money as you do and bought half as much car. Has anyone used Lightstream before to take out a personal loan? An online lender, LightStream is a division of Truist Financial Corp. A variety of loan options. 6. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. The online lender will even beat competitors’ auto loan … LightStream delivers a revolutionary loan … And please go easy its my first time posting (: The right choice here depends on the interest rate. By eliminating paper almost entirely from the LightStream loan … We applied for a $49k home improvement loan with Lightstream. Fees and penalties. In addition to auto loans, Lightstream also makes personal loans that can be used for home improvement, large purchases, or debt consolidation. LightStream loans … Lightstream allows customers to borrow as little as $5,000 or as much as $100,000. I bought a newer car when the cost of repairing the old one was a good down payment on a new car - this has nothing to do with the “value” of the old car. LightStream loan rates are some of the most competitive on the market today. My interest rate is irrelevant because it was a few years ago and rates have gone up since then. Most LightStream loans come with two- to seven-year terms, though its loans for home improvement, swimming pools and solar financing may extend to 12 years. LightStream offers fixed-rate unsecured personal loans.Your annual percentage rate, or APR, will vary depending on the type, size and purpose of the loan.Your loan … Do you plan on living at home for the next 5 years? can you help me with how the process was, when you went to the dealer did they take care of getting the funds or were the funds transferred to your bank account and paid that way? Thanks!!! Every condition was met, my loan was the same amount $8000, loan term 36 months, loan purpose of credit refinance, and payment method (auto debit or invoice). LightStream interest rates range from 3.49% to 17.29% and are fixed, not variable. 1: If you were approved for an unsecured loan through Lightstream what was your rate and your average credit score? The lowest interest rates include a 0.50% rate discount for using autopay.Loan … My credit was 780-800 at the time and my credit history was ~10 years long. I still live at home and have very few living expenses which total up to about $600 a month(most times less than that) while I make well over $2000 a month. (yes i know but i’m willing to risk it so please dont try and convince me otherwise thanks!). Join our community, read the PF Wiki, and get on top of your finances! 2: Is my credit score high enough/is my credit history long enough to even get an unsecured low apr loan from Lightstream? Highly recommend Lightstream … Press J to jump to the feed. How long have you had your job? Im considering this option to get something i actually want to drive for the next 5-10 years instead of buying something that will save me money(5k beater as the guy above suggested) and then deciding to buy something again in another 2 years and having to do this over again. By eliminating paper almost entirely from the LightStream loan … Everything seems legit from here! However, there are individual interest rate ranges for each type of loan. Repayment term (two to 12 years, depending on the loan purpose). I shopped around and am considering Lightstream which i’ve read great things about on here for a UNSECURED Low APR loan instead of a traditional dealer/bank for financing, to be able to purchase only liability insurance on my car which i’ll be able to afford. Most lenders require full coverage i attempt to buy something new at all in the next 5-6.. To your bank account, often as soon as the same business day know but i ’ willing! Car purchase used LightStream before to take out a personal loan do and bought half as much car ’., paperwork, or … what you should buy a cheaper used car $ 100,000 633 users PF. Hope to get a quick response during business hours 500-700 a month which is ridiculous! Options for someone in my situation you might suggest of credit history and.! Of employment ( pay stubs ), but otherwise it was a few years %... 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