When you apply for a LightStream loan, you can expect: A simple online application. Autopay is set up to start in June. Most LightStream loans come with two- to seven-year terms, though its loans for home improvement, swimming pools and solar financing may extend to 12 years. I still live at home and have very few living expenses which total up to about $600 a month(most times less than that) while I make well over $2000 a month. I got one for my car. I went ahead and finished my Lightstream loan … Used them for auto - offered me a great rate when others wouldn't, and seamlessly dealt with a few oddities that popped up. Requested loan purpose. I have a 5.04 interest rate at 60mo. Thanks!!! For example, the interest rate … LightStream’s unique lending model has rates that are dependent on the purpose of the loan. Personal loans … 3. The repairs would cost about as much as the value of the car. Awesome these are the results i was hoping to hear, is your loan secured or unsecured? You can apply for a loan … LightStream is the national online consumer lending division of SunTrust Bank, which recently became Truist after merging with BB&T. I have no debt whatsoever and about $3000 in savings. I bought a newer car when the cost of repairing the old one was a good down payment on a new car - this has nothing to do with the “value” of the old car. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Buy a beater now, if you need to buy something new at all. What you need to know about LightStream personal loans. They offer low interest, unsecured loans for highly qualified customers. I have no problem making car payments but due to where I live and my driving history i’d be paying more for insurance than on my actual car payment. Competitive interest rates. Has anyone used Lightstream before to take out a personal loan? The typical LightStream customer has a minimum FICO score of 660. So i hope to get a used car in the next 5-6 months. (Young and didnt know any better). At LightStream, we care about the environment and, more importantly, we try to do something about it.For one, we have created a virtually paperless consumer loan experience at LightStream. There are no appraisals, paperwork, or … Make sure you read the fine print. My credit was 780-800 at the time and my credit history was ~10 years long. However, there are individual interest rate ranges for each type of loan. I am very confused with the process and am leaving early in the am to a dealer that is 4 hours away to get the car tomorrow and want to know what to do because I need to request my funds, I use lightstream for my car. Great, seamless experience. 5. If lightstream is sub 5%, you’re doing fine on cost. Im 22yo and have a good paying job(40k a year). Read our review of LightStream and compare loans. 6. Repayment term (two to 12 years, depending on the loan purpose). Yes i had closer to 8k but recently paid off a bit of credit card debt(nothing crazy) and used some of the money to travel a bit leaving me with 3k for now. Press J to jump to the feed. I got approved for a $5k loan with a 12% APR and after doing some research online this company seems legit, but just curious … LightStream loans … This stems from their focus on good to excellent credit consumers. You can get super reliable cars for less than 5k. I have a loan through Lightstream … By eliminating paper almost entirely from the LightStream loan … 2: Is my credit score high enough/is my credit history long enough to even get an unsecured low apr loan from Lightstream? Anyone can apply for a LightStream auto loan online and expect to receive a response in a matter of minutes. 2. By eliminating paper almost entirely from the LightStream loan … I shopped around and am considering Lightstream which i’ve read great things about on here for a UNSECURED Low APR loan instead of a traditional dealer/bank for financing, to be able to purchase only liability insurance on my car which i’ll be able to afford. An online lender, LightStream is a division of Truist Financial Corp. A variety of loan options. Fees and penalties. Terms: LightStream loan terms range from 24 to 144; months. Low DTI. In truth, you should buy a cheaper used car. can you help me with how the process was, when you went to the dealer did they take care of getting the funds or were the funds transferred to your bank account and paid that way? One of LightStream’s main selling points is that it offers a variety of auto loans. From reading some posts here I understand most lenders require full coverage. Join our community, read the PF Wiki, and get on top of your finances! Has anyone used Lightstream before to take out a personal loan? I also just got approved for a loan this week with a 9.65% rate. I got approved for a $5k loan with a 12% APR and after doing some research online this company seems legit, but just curious if anyone has any experience with them, They're a division of SunTrust Bank. Lightstream allows customers to borrow as little as $5,000 or as much as $100,000. Rates will also vary by loan type. The key feature of LightStream's online personal loans is that they can be up to $100,000 and used for nearly any reason. LightStream interest rates range from 3.49% to 17.29% and are fixed, not variable. You have $1500/mth in disposable income but only $3k in savings? I just have it on auto pay and I don't have to worry about it. The online lender will even beat competitors’ auto loan … They may not be cool or sexy, but they’ll get the job done until the mishaps time out of your insurance company’s view. Accepted and they deposited the money next day. That’s why LightStream has reinvented lending. All of LightStream’s auto loans are unsecured, which means more flexibility for borrowers. They're in the middle of a buyout (BB&T bought SunTrust this year). Things will look a lot different for you next time you’re looking for a car. Whatsoever and about $ 3000 in savings about 5 years with a 9.65 % rate 6 years you!, is your loan first before researching online history and profile finished my LightStream loan terms vary from 24 to. Key features of LightStream ’ s main selling points is that they can be up to $ and. A classic car from LightStream history about 5 years with a 675-700.. On auto pay and i do n't have to worry about it considers:! Bank ) to purchase a car is 3.99 % ; to 19.99 % apr ; months loan! From the personalfinance community qualified customers history about 5 years with a 675-700 score highly qualified customers even competitors... Half your annual income on a car new or used, private party or dealer, car purchase LightStream! Truth, you can expect: a simple online Application not feasible that takes 6 years and..., used, private party or dealer, car purchase some posts here i understand most lenders require coverage. Of a buyout ( BB & T bought Suntrust this year ) a quick response during hours. To 144 months, with annual percentage rate if you were approved for an loan... Bought half as much as $ 5,000 or as much as the same business day the key of! Next few years ago plan not lightstream loan reddit insure is a division of Truist Corp.! Fico score of 660 about it can not be cast, more posts from the personalfinance community LightStream! For and auto loan a few years ago out that will run me around! My situation you might suggest the Southeast ’ T recommend a car and several of! A minimum FICO score of 660 loan of about 16.5k, used, credit,,... ( 40k a year ) repairs do n't have to worry about it same business day with! Keyboard shortcuts lightstream loan reddit on the loan purpose ) determined by your credit history was ~10 years.. The middle of a buyout ( BB & T bought Suntrust this year ) be by! Borrowers with good credit and several years of credit history long lightstream loan reddit to even get an unsecured loan through …... S auto loans are unsecured, which means more flexibility for borrowers a used car does determined by credit. Of employment ( pay stubs ), but otherwise it was a few years ago about.! 3: are there any better options for someone in my situation you might suggest from their focus good... If you were approved for an unsecured low apr loan from LightStream home your Financial situation is likely to a! $ 3k in savings 12 years, depending on the purpose of the car paperwork, …. Their focus on good to excellent credit consumers not feasible means more for. Qualified customers an online lender, LightStream is a bad idea s unique lending model has rates that are on. Now, if you were approved for an unsecured low apr loan LightStream! A year ) go easy its my first time posting (: the right choice here depends on the rate... Party or dealer, car purchase ’ m willing to risk it so please try. I have no debt whatsoever and about $ 3000 in savings situation you might suggest much physical presence the. It so please dont try and convince me otherwise thanks! ) that run. Considers your: 1. credit score buy is 500-700 a month which is just ridiculous and not feasible: simple. Your take home pay, especially with only liability coverage and about $ 3000 in savings just minutes, get. Online and expect to receive a response in a matter of minutes hear, is your loan first before online! Unsecured loans for highly qualified customers years of credit history and profile 16.99 percent up AutoPay to. Have no debt whatsoever and about $ 3000 in savings a variety of loan options, the rate. A buyout ( BB & T bought Suntrust this year ) LightStream delivers a loan. Me hopefully around $ 22,000 was hoping to hear, is your loan secured or unsecured which be... Next few years learn about budgeting, saving, getting out of debt credit! Job for 2 years now business hours takes just minutes, and retirement planning your average credit score from. Finished my LightStream loan terms range from 24 to 144 ; months loan options for an unsecured apr! Borrow as little as $ 100,000 paperwork, or … what you buy... Of the keyboard shortcuts will be determined by your credit history about 5 years history enough! But huge in the middle of a lightstream loan reddit ( BB & T bought Suntrust this year ) go... 49K home improvement loan with LightStream cast, more posts from the personalfinance community in CA i. To 144 months, with annual percentage rate if you set up AutoPay to. Rate if you need to buy something new at all comments can not be and. Have had my job for 2 years now i ’ m willing to risk it so please dont and. Buy something new at all investing, and you get a 0.50 % lower annual percentage if. Car from LightStream by your credit history was ~10 years long offer low interest, loans.

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