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  LightStream New Car Loans

LightStream New Car Loans

in Auto Loans from SunTrust Bank

Unaffiliated

LightStream New Car Loans

Unaffiliated

in Auto Loans from SunTrust Bank

SuperMoney Net Recommendation Score -15%

SUPERMONEY NET RECOMMENDATION SCORE

-15

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

8 users recommend
1 user is unsure
11 users don't recommend
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Highlights
Community Rating Mostly not recommended
Credit Score Range 660 - 850
Loan Amount $5,000 - $100,000
APR  (Fixed APR) 2.49% - 11.89%
Loan Term (Months) 24 - 84 months
Number of Reviews 20

LightStream New Car Loans Review

What We Love About SunTrust Auto Loans

SunTrust offers many auto loans for new cars, used cars, and even classic cars. It can be difficult to find loans for the latter, but SunTrust is one option available. It also has no restrictions on the kind of car or truck you buy in terms of years, model, mileage, or make. All of the auto loans through SunTrust are secured, and there are even solutions for those leasing a car who wish to buy it.

What Could SunTrust Do Better?

The main problem that some people will run into with SunTrust auto loans is that they only work with those who have good or excellent credit. Anyone who has more than a few dings on their credit is not likely to qualify for their auto loans. The company expects most customers to have no late payments, income to cover their debts, proven ability to save money, and at least five years of credit history across several account types.

SunTrust Backstory

SunTrust Bank is a financial services company that caters to business, individual, corporate, and institutional clients. It offers an array of products and services, including lending, banking, credit cards, wealth management, and mortgages. As of the final quarter of 2016, SunTrust had more than 1,400 banks and over 2,100 ATMs in the United States.

While only physically available in 11 southeastern states and Washington D.C., it also reaches customers across the United States with its LightStream online division.

The Verdict

For those with excellent credit, SunTrust often offers some of the lowest rates for auto loans. However, those with good credit can expect higher rates, and those with fair or poor credit will not qualify for this company’s loans. The company lets you manage your loan entirely online. SunTrust also has a satisfaction guarantee. Borrowers who aren’t happy in the first 30 days can answer a few questions about it and receive $100 from SunTrust.

LightStream New Car Loans Disclosure: * 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 loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay may be higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Extended loan terms (85-144 months) are only available for home improvement purposes, for loan amounts higher than $25K. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66.
SuperMoney Disclosure: 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...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Our Editor

What We Love About LightStream Auto Loans

LightStream offers a variety of auto loan choices for new and used vehicles. It also provides loan refinancing, lease buyouts, and options for purchasing and refinancing motorcycles. For consumers with excellent credit, it provides a fast online loan process with competitive rates and no fees. These loans require no down payment and fast funding with no restrictions on the type of vehicle being purchased.

What Could LightStream Do Better?

 Getting approved for a LightStream auto loan can be difficult since the approval requirements are strict. Only individuals with excellent credit will get the best terms and rates while applying results in a hard inquiry on your credit report. Customers need to have a MasterCard or Visa to receive a loan and the only means of customer service is by sending an email.

LightStream Backstory 

As the online consumer lending division of SunTrust Bank, LightStream offers lending options to customers across the United States. This company provides loans for a variety of purposes, such as purchasing automobiles, buying recreational vehicles, and making home improvements. LightStream also provides refinancing options for automobiles and motorcycles.

LightStream focuses on offering a streamlined and simple method for getting loans for people with excellent credit scores. Among those who meet their stringent requirements, the loan rates are often competitive. Both secured and unsecured loans are available for those who meet the application requirements. One of the most unique aspects of LightStream is its commitment to plant a tree for each loan that is funded. 

The Verdict

LightStream could be a reasonable choice for some consumers, specifically those with excellent credit who have a Visa or MasterCard credit card. However, those with lower credit scores will likely not meet the requirements for a LightStream auto loan. It’s also worth being aware that the hard inquiry on your credit can also cause issues for some applicants.

The best option for those who may qualify for LightStream auto loans is to look into all your options first. There may be other companies with better rates and less strict

Availability

  Available in 50 states and Washington, D.C.
  • 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

Application Fee $0
No Origination Fee
No Prepayment Fee
No Late Fees
Checking Account Required
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $50,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Credit Score Range 660 - 850
Approval Speed 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
Funding Time Range 0 - 30 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
Loan Amount $5,000 - $100,000
APR (Fixed APR) 2.49% - 11.89%
Loan Term 24 - 84 months

LightStream New Car Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

-15

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.

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