LightStream Auto Refinancing

LightStream Auto Refinancing Review

Lightstream auto refinance 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

• APRs starting at 3.99%. There are average starting rates for an auto refinancing loan. If you have good credit you may qualify for a loan with better rates.
• 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 an origination 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 refinance Pros & Cons

Lightstream auto refinance FAQ

How much can you borrow via Lightstream auto refinance?

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 refinance?

Lightstream auto refinance offers a fixed APR car loan refinancing product that ranges from 3.99% APR up to 10.49% APR. Rate is quoted with autopay discount*.

What is the maximum loan term you can get with Lightstream auto refinance?

Lightstream auto refinance 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 refinance charge an origination fee on auto refinance loans?

No, Lightstream auto refinance does not charge a loan origination fee for refinancing a car 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 refinance charge a late fee?

Yes, auto refinance loans via Lightstream auto refinance are subject to late payment penalty fees.

Does Lightstream auto refinance charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for LightStream Auto Refinancing?

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 and permanent resident / green card holders are eligible to apply for the services offered by LightStream Auto Refinancing.

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 a car loan refinance with Lightstream auto refinance?

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?

Yes, 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 may help improve your credit.

Is SunTrust Bank a legit company?

SunTrust Bank was founded in 1865, it is a well-established company that has been in business for 158 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.