Applied for a pre-approval for $36,000 didn't expect the entire amount but was instantly approved. Equifax score was at 681. Thanks NFCU
With reading some reviews here and seeing only 3 stars, I thought Lightstream may have been a scam. A loan for everything? A loan for a Hot Tub? 1.99% interest? It seemed to good to be true.
After a little bit of digging I found out, and I hope this is helpful to anyone reading, that their business model is simple: Provide unsecured loans for extremely risk free individuals. It was also clear that several people on this site had great credit, have been denied simple loans, which led to some nasty 1 star reviews.
So If you are considering a loan from here you should go into it with eyes wide open.
First, they are a great company to do business with. It took me ten minutes to sign up. I never talked to anyone. Got 18K in my account the next day. And because they offer unsecured loans, you dont have to provide any additional information. Which also explains why they ofter loans for everything. This was strange to me and took some getting use to. It also makes the process super simple.
Second, be prepared to be denied even with awesome credit. You may also get a hard inquiry hit on your credit score and should be aware of those ramifications.
I dont normally like to list my information but if it helps, my wife an I cosigned on this loan. We have the same 816 score right now and have never missed a payment on anything. We have a house loan and use and payoff about 5K of 100K in credit card balances each month. No other loans.
Good luck and I hope it works out for you.
Negative reviews scared me but I was offered an interest rate of 4.3% (currently paying 18.45% through Santander!) with a 660 FICO. Knocked off a year of payments and still saves me $6 a month. Sounds pretty good to me. There are some fees for their service that are added to the loan (no out-of-pocket) but worth it to me for the $3000 savings over the life of the loan.
I wish I had thought to take the time to read customer reviews on getting pre-approved auto loan from Nationwide. It stated that it would be a soft pull of my credit report. Which means that it would not affect my credit score. Wrong, that is a total lie. Not only did they decine me. It took -9 points off my credit score. Which now puts my score at a bad credit level. I am livid. I have wrote to them telling them I want it corrected. Will see what happens. People don't even bother with Nationwide they are liers
applied for a new loan for a used vehicle credit score very good, paid off auto loans on file, credit karma states a loan from this firm is less or at 3% when approved loan comes back 3X this amount. I was told This firm advertises with Credit karma and they are looking for customers with 800 scores, but are not disclosed by Credit karma or Autopay. Do your research, stay away from this firm for any auto loan, it will do a hard hit on all three credit reports. Autopay also takes your info and uses for future services and sells your data to other high risk credit companys as was told by a autopay represenative. I declined to move forward with this loan.
I received an email from Auto Navigator through Capital One to pre-qualify for an auto loan. I thought this would be a nice approach, as it was a "soft inquiry" and would give me an idea of what to expect for rates when I went to buy a used car. I was pre-approved for 40k at interest rates based on the year of the car I bought (as long as it was 2006 and newer with less than 120k miles). To make a long story short, after I found the car I wanted at a well-known nationwide dealership (and one that particated in this Auto Navigator program), I wanted to turn the pre-qualification into a loan. However, when I submitted a "hard inquiry" the terms I received were ballparks different than what I was pre-approved for (I was approved for more than half the 40k, at a higher 6.5% rate, and they required a 10k down payment). I have a 800+ credit score so that wasn't it. It was a waste of time to even consider Auto Navigator Capital One. I went with my own bank and got a comically better rate and term.
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