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  LightStream Auto Refinancing

LightStream Auto Refinancing

in Auto Loan Refinancing from SunTrust Bank

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LightStream Auto Refinancing

Unaffiliated

in Auto Loan Refinancing from SunTrust Bank

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Highlights
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Community Rating

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Credit Score Range 700 - 850
Loan Amount $5,000 - $100,000
APR  (Fixed APR) 3.49% - 9.49%
Loan Term (Months) 24 - 84 months

LightStream Auto Refinancing Review

LightStream Auto Refinancing is an auto loan refinance offering by SunTrust Bank, based in Atlanta, GA. Founded in 1865, SunTrust Bank offers auto refinance loans in 50 states (and Washington, DC).

Key Takeaways
  • Lease buyouts. Offers refinancing to buyout an expensive lease or purchase a company car.
  • Good credit required. You will need a credit score of at least 700 to qualify for LightStream Auto Refinancing.
  • Refinancing for large loan amounts. You can refinance auto loans of up to $100,000 with LightStream Auto Refinancing.
  • Fast funding process. In some cases, you may be able to refinance the loan within one business day.
  • Hard credit pull required. You can't check your rates or see if you prequalify for LightStream Auto Refinancing without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
  • No origination fee. LightStream Auto Refinancing does not charge a fee for processing your loan application.
  • Long loan terms. LightStream Auto Refinancing offers loan terms of up to 84 months. Most auto refinancing loans have a maximum term of 60 months.
  • Minimum income of $50,000. You will need an annual income of at least $50,000 to apply for LightStream Auto Refinancing, which is above average for the lenders in our database.
LightStream Auto Refinancing Pros & Cons
Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • $0 origination fee.
  • Fast funding.
  • Available in all 50 states.
  • Only considers applicants with good credit.
  • Do not offer pre-approval with soft credit pull.
  • Charges a late fee.
  • No co-sign option.
LightStream Auto Refinancing FAQ

How much can you borrow via LightStream Auto Refinancing?

Auto refinance loan amounts start at $5,000 and go up to $100,000.

What are the auto loan refinancing rates offered through LightStream Auto Refinancing?

LightStream Auto Refinancing offers a fixed APR auto loan refinancing product that ranges from 3.49% APR up to 9.49% APR. Rate is quoted with autopay discount*.

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

LightStream Auto Refinancing offers auto refinancing with terms ranging from 24 to 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 refinancing loan, the more interest you will pay.

Does LightStream Auto Refinancing charge an origination fee on auto refinance loans?

No, LightStream Auto Refinancing does not charge a loan origination fee for refinancing an auto loan.

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.

Does LightStream Auto Refinancing charge a late fee?

Yes, auto refinance loans via LightStream Auto Refinancing are subject to late payment penalty fees.

Does LightStream Auto Refinancing charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for LightStream Auto Refinancing?

Applicants with a credit score of at least 700 and up to 850 are eligible for LightStream Auto Refinancing. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for auto loan refinancing with LightStream Auto Refinancing, applicants need a minimum annual income of $50,000 or higher. LightStream Auto Refinancing only considers borrowers who are employed and meet the minimum income requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via LightStream Auto Refinancing. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by LightStream Auto Refinancing. Permanent resident / green card holders are also eligible to apply.

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

  • Applicants must have an active and valid personal checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit

What is the estimated funding time for an auto loan refinance with LightStream Auto Refinancing?

Auto refinance loan applications are typically approved (or denied) within 24 hours and funded within 0 to 30 days of approval.

Does LightStream Auto Refinancing report your account activity to credit bureaus?

LightStream Auto Refinancing reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit.

LightStream Auto Refinancing 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.

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  
Checking Account Required  
Credit Score Range 700 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted Individual Applications
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Annual Income $50,000
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Verification Documents Required
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Approval Speed 24 hours
Credit Bureau Reporting
  • Equifax
  • Experian
Funding Time Range 0 - 30 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
APR (Fixed APR) 3.49% - 9.49%
Loan Term 24 - 84 months
Loan Amount $5,000 - $100,000

LightStream Auto Refinancing Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+100%

-100% 0% +100%
No one recommends Everyone recommends

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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