SuperMoney

LightStream

in Auto Loans

Claimed Visit Site

LightStream

Claimed

in Auto Loans

SuperMoney Net Recommendation Score -8% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Mostly not recommended

16 users recommend
4 users are unsure
19 users don't recommend
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Overview

Where does LightStream do business?

LightStream is based in San Diego, CA. It was founded in 2013 and offers auto loans in 50 states (and Washington, DC).

What APR does LightStream offer on its auto loans?

LightStream offers auto loans with APRs starting at 3.59% and up to 12.34%. Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccuate information in your credit history with these credit monitoring tools.

What is the maximum loan term you can get with LightStream?

LightStream has auto loans with a maximum term of 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.

Does LightStream charge an origination fee?

No, LightStream does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does LightStream charge a late fee?

No, LightStream will not charge you a late fee.

Does LightStream charge prepayment fees?

No, LightStream will not charge you a fee for paying your loan early. Whenever possible choose lenders like LightStream that don't charge a prepayment fee. These fees can reduce or even cancel the interest savings of repaying a loan early.

What do you need to qualify for a loan with LightStream?

Applicants with a credit score of at least 680 can apply for a loan via LightStream. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • An active and valid checking account
  • Proof of citizenship or residence permit
  • Recent pay stubs
  • Proof of income

What is the estimated funding time for an auto loan via LightStream?

LightStream will typically approve (or deny) an auto loan application within 24 hours and fund the loan within 1 business day of approval.

Does LightStream report loan payments to credit bureaus?

LightStream reports credit data to the following credit reporting agencies:

  • Equifax
  • Experian

 

The APR listed is for an unsecured dealer used auto loan between $10,000 and $24,999 with a term between 24 and 36 months, for applicants with excellent credit. Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option are 0.50% higher. If your application is approved, your credit profile will determine whether your loan will be unsecured or secured. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 2.19% APR with a term of 3 years would result in 36 monthly payments of $287.26.
SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee
Application Fee
$0
No Late Fees
Minimum Age
18
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Joint Loan Applications Accepted
  • Co-signer
Credit Score Range
680 - 850
850 300 680
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income
$50,000
Bank Account Required?
Verification Documents Required?
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Funding Time Range (in days)
Up to
1
Approval Speed (Hours)
24
Joint Loans Available
Credit Bureau Reporting
  • Equifax
  • Experian
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
Loan Term (Months)
Up to
84
Loan Amount
$5K - $100K
$500 $100K+
APR
3.59% - 12.34%
0% 36%+

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