Low DTI. Awesome these are the results i was hoping to hear, is your loan secured or unsecured? 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? Buy a beater now, if you need to buy something new at all. By eliminating paper almost entirely from the LightStream loan … They're in the middle of a buyout (BB&T bought SunTrust this year). I want to use Lightstream (a subsidiary of Suntrust bank) to purchase a car. They offer low interest, unsecured loans for highly qualified customers. I have had my job for 2 years now. Make sure you read the fine print. LightStream delivers a revolutionary loan … I have a make and model picked out that will run me hopefully around $22,000. APR range: The APR for this loan is 3.99%; to 19.99% APR. (Young and didnt know any better). 2. Personal loans … LightStream offers fixed-rate unsecured personal loans.Your annual percentage rate, or APR, will vary depending on the type, size and purpose of the loan.Your loan … Press J to jump to the feed. LightStream - Read unbiased reviews of LightStream, rated 5.0 out of 5 stars by 633 users. The lowest interest rates include a 0.50% rate discount for using autopay.Loan … For example, the interest rate … Not much physical presence on the West Coast but huge in the Southeast. Your credit report will also determine whether your LightStream loan will be an unse… Loan terms vary from 24 months to 144 months, with annual percentage rates ranging between 3.99 percent and 16.99 percent. Has anyone used Lightstream before to take out a personal loan? What you need to know about LightStream personal loans. Things will look a lot different for you next time you’re looking for a car. 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. You can get a 0.50% lower annual percentage rate if you set up AutoPay prior to loan funding. This amount can be delivered directly to your bank account, often as soon as the same business day. How long have you had your job? LightStream interest rates range from 3.49% to 17.29% and are fixed, not variable. I got approved for a $5k loan with a 12% APR and after doing some research online this company seems legit, but just curious … We were approved at 6.84% APR for 60 months (the lowest advertised rate) our Equifax scores were 790 and 771 with $150k in annual income. Accepted and they deposited the money next day. One of LightStream’s main selling points is that it offers a variety of auto loans. 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. All of LightStream’s auto loans are unsecured, which means more flexibility for borrowers. 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. 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. Spending more than half your annual income on a car that you plan not to insure is a bad idea. Competitive interest rates. Press J to jump to the feed. Autopay is set up to start in June. 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. Im 22yo and have a good paying job(40k a year). New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Payment record on all loans and credit cards. 1: If you were approved for an unsecured loan through Lightstream what was your rate and your average credit score? There are no appraisals, paperwork, or … Fees and penalties. 1 . We applied for a $49k home improvement loan with Lightstream. 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. Great rate, never had any issues. A few repairs don't make sense but an uninsured 22k used car does? Your exact rates and monthly payments will be determined by your credit history and profile. Has anyone used Lightstream before to take out a personal loan? In addition to auto loans, Lightstream also makes personal loans that can be used for home improvement, large purchases, or debt consolidation. 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. Here are some key features of LightStream personal loans. I applied and was approved for an unsecured loan for a classic car from Lightstream. (yes i know but i’m willing to risk it so please dont try and convince me otherwise thanks!). I also just got approved for a loan this week with a 9.65% rate. That’s why LightStream has reinvented lending. 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. Join our community, read the PF Wiki, and get on top of your finances! Used them for auto - offered me a great rate when others wouldn't, and seamlessly dealt with a few oddities that popped up. They asked for proof of employment (pay stubs), but otherwise it was an easy process. I got a Lightstream loan for my car. LightStream is an online lending division of SunTrust Bank that offers fixed competitive rates and flexible terms on loans from $5,000 to $100,000. So i hope to get a used car in the next 5-6 months. In truth, you should buy a cheaper used car. By eliminating paper almost entirely from the LightStream loan … The key feature of LightStream's online personal loans is that they can be up to $100,000 and used for nearly any reason. I got one for my car. LightStream personal loans work best for borrowers with good credit and several years of credit history. 3. You have $1500/mth in disposable income but only $3k in savings? Applying takes just minutes, and you get a quick response during business hours. However, there are individual interest rate ranges for each type of loan. 5. Anyone can apply for a LightStream auto loan online and expect to receive a response in a matter of minutes. It’s not about getting a loan — it’s about getting what you want. What you should know about LightStream auto loans. Because of these tickets any full coverage I attempt to buy is 500-700 a month which is just ridiculous and not feasible. An online lender, LightStream is a division of Truist Financial Corp. A variety of loan options. Everything seems legit from here! Repayment term (two to 12 years, depending on the loan purpose). Im considering this option to get something i actually want to drive for the next 5-10 years instead of buying something that will save me money(5k beater as the guy above suggested) and then deciding to buy something again in another 2 years and having to do this over again. Do you plan on living at home for the next 5 years? 2: Is my credit score high enough/is my credit history long enough to even get an unsecured low apr loan from Lightstream? I have no debt whatsoever and about $3000 in savings. Every condition was met, my loan was the same amount $8000, loan term 36 months, loan purpose of credit refinance, and payment method (auto debit or invoice). I have a loan through Lightstream … Wait...did you get your loan first before researching online? The online lender will even beat competitors’ auto loan … Join our community, read the PF Wiki, and get on top of your finances! Thanks!!! My interest rate is irrelevant because it was a few years ago and rates have gone up since … They have an option for purchasing used cars and there interest rates they quoted me … Requested loan purpose. And please go easy its my first time posting (: The right choice here depends on the interest rate. 4. The lender also considers your: 1. Credit score and credit history. If lightstream is sub 5%, you’re doing fine on cost. LightStream is the national online consumer lending division of SunTrust Bank, which recently became Truist after merging with BB&T. In CA, I think that takes 6 years. I wouldn’t recommend a car payment that is almost 25% of your take home pay, especially with only liability coverage. 6. LightStream is the online lending division of SunTrust Banks Inc. I just have it on auto pay and I don't have to worry about it. LightStream provides loans for new and used dealer purchases, as well as private party purchases and lease buyouts. I still carry collision and comprehensive insurance. I’ve never been in an accident but i got 2 tickets that stayed on my record because I paid them without doing traffic school. Requested loan amount. 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. Lightstream personal loans. Had a loan of about 16.5k, used, credit history about 5 years with a 675-700 score. Competitive rates. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. LightStream will offer a rate .10 percentage points lower than the rate offered by a competing lender subject to satisfactory evidence being provided that you were actually approved for a lower rate with another lender for the same loan terms offered by LightStream by no later than 2 p.m. Eastern time one business day prior to loan … 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. It’s Saturday, I have it set up for the funds to be wire … Used for and auto loan a few years ago. Still, as of 1/6/21, a loan from $5,000 – $9,999 with a 24-36 month term would range between 4.99% – 17.99%. Press question mark to learn the rest of the keyboard shortcuts. 3: Are there any better options for someone in my situation you might suggest? By eliminating paper almost entirely from the LightStream loan … Available assets. At 22 and living at home your financial situation is likely to change a lot in the next few years. From reading some posts here I understand most lenders require full coverage. 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. I got a Lightstream loan for my car. I also made twice as much money as you do and bought half as much car. Highly recommend Lightstream … My credit was 780-800 at the time and my credit history was ~10 years long. I went ahead and finished my Lightstream loan … Loan amounts range from $… I have a 5.04 interest rate at 60mo. LightStream loan rates are some of the most competitive on the market today. Press question mark to learn the rest of the keyboard shortcuts. Read our review of LightStream and compare loans. LightStream’s unique lending model has rates that are dependent on the purpose of the loan. I need to get a new car because my current one will only last about the next 4-5 months due to repairs needed that wouldnt make financial sense. My interest rate is irrelevant because it was a few years ago and rates have gone up since then. Rates will also vary by loan type. My credit was 780-800 at the time and my credit history was ~10 years long. LightStream Application Process. This stems from their focus on good to excellent credit consumers. 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. You can apply for a loan … Lightstream auto loans has some of the best rates available, largely because they have created their business around supplying loans … The typical LightStream customer has a minimum FICO score of 660. The repairs would cost about as much as the value of the car. LightStream loans … New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Lightstream allows customers to borrow as little as $5,000 or as much as $100,000. A LightStream auto loan offers few restrictions and low rates starting at 2.49% for customers with strong credit scores (660+). Terms: LightStream loan terms range from 24 to 144; months. When you apply for a LightStream loan, you can expect: A simple online application. You can get super reliable cars for less than 5k. LightStream offers "The AnythingLoan" which can be used to finance your new or used, private party or dealer, car purchase. 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