LightStream Auto Loans Review

Rating: 9.3 / 10 (Excellent)
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Founded in 2010 and based in SanDiego, CA, LightStream is the online consumer lending division of SunTrust Bank that offers consumer loans for practically anything, including auto loans and refinancing for classic, brand new, and used cars, from both dealers and private parties.

How is LightStream rated?

Breakdown

10/10
Loan Options
10/10
Application & Service
9/10
Qualification
9/10
Reputation

Overall Rating: 9.3 / 10 (Excellent)

As the online lending division of SunTrust Bank, LightStream offers a great selection reliable loan products for an impressively broad range of uses. Their auto loan products require applicants to have excellent credit, which will determine both their rate and whether the loan will be secured or unsecured. People looking to obtain financing for the purchase of a new vehicle or simply wanting to refinance their current auto loan to a better rate are sure to lower overall interest charges through LightStream's services. This direct lender could be an ideal choice for consumers with good to excellent credit looking for a reliable financing option from a reputable lender.

Auto Loans & Refinancing

Loan Options - 9.5 / 10

LightStream offers almost every kind of loan available, from auto loan finance and refinance options, to horse and aircraft loans with low fixed rates. They currently extend purchase, refinance, lease buyout, and private party purchase loans ranging from $5,000 to $100,000 for clients with excellent credit profiles. Their loan terms go from 24 to 84 months and APRs for auto loan purposes can be as low as 3.09% and as high as 9.79% with AutoPay, depending on the purpose of the loan and the applicants credit history.

The minimum APRs quoted below are with AutoPay.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Purchase Loans

Loan Amount
$5,000
Max Loan Amount
$100,000
Min. APR
3.09%
Term Length
24 months
Max Term Length
84 months
Minimum Down Payment
No Down Payment Required

Loan Refinancing

Min. Loan Amount
$5,000
Max Loan Amount
$100,000
Min. APR
3.09%
Min. Term Length
24 months
Max Term Length
84 months

Additional Info

*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. 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 3.09% APR with a term of 3 years would result in 36 monthly payments of $291.21.

Loan Qualifications

Qualification - 9.3 / 10

To get approved for an auto loan with LightStream, applicants must be 18 years or older and have an excellent credit profile, meaning they must have over five years of credit history, varied credit accounts, an excellent payment history, liquid assets or savings, and a stable income. Those who qualify, however, are able to obtain financing for the purchase of any type of car, regardless of make, model, age, or mileage.

Borrower Qualifications

Minimum Age
Must be 18 or older
Minimum Income
Not Specified
Minimum Credit Score
Good to Excellent Credit
Verification / Documents Required
Social Security Number

Vehicle Qualifications

Mileage Limit
No Limit
Car Age
No Age Limit
Car Makes
Any Vehicle Make

Application & Service

Application & Service - 9.5 / 10

LightStream delivers a hassle-free application and quick approval times, usually within business hours. There are no application or repayment fees and customers can obtain funding in as little as 30 days. Unlike other online lenders, LightStream does not provide pre-approvals or applications over the phone, fax, or email. To qualify, applicants must first complete the company's online form and await a response. Once they have been contacted with an offer, they can proceed to accept the loan agreement, sign it upon approval, and set up their loan for funding.
Approval Time
Same Day
Funding Time
Within 30 Days
Fees
No Fees
Benefits/ Features
Online Rates / Application
Auto Loan Calculator

LightStream Reputation & Reviews

Reputation - 8.5 / 10

LightStream is a division of SunTrust Bank, a Better Business Bureau-accredited lending institution with an A+ rating and over a century of experience in the industry. Although they have received a considerable number negative customer reviews and complaints with regard to their products and services, the company seems committed to providing a streamlined loan application process and excellent financing options for creditworthy customers.
BBB Rating
A+
Number of BBB Positive Reviews
1
Number of BBB Neutral Reviews
2
Number of BBB Negative Reviews
51
Date Collected
2017-10-26

Contact & Additional Information

Lender Type
Lender
Homepage URL
Company Phone
(888) 786-8787
Headquarters Address
919 E Main St, Richmond, VA, 23219
Year Founded
2004

Our Partner
9.3 / 10
  • Low fixed rates with flexible terms
  • Rate loan calculator
  • Best loan experience guaranteed
  • Apply for an auto loan online
  • Online account management
  • Wide selection of vehicle loans