Immediately denied... No if, ands, or buts! Wasted my time and interest.
I was in a very difficult spot. It seemed iimpossible for me to refinance my car loan without putting down an extraordinary amount of money. But even after my initial application was turned down, I emailed my broker back and we started working on finding a solution. Which we did, and even more than I had hoped for in a matter of days. My guy- Jerry- he was wonderful to work with, he answered all my questions ( and my dad's wuestions) and brought me exactly what I needed and hoped for do far less than I had figured. It was a smoothe process and I felt well cared for the whole way.
I have an over 790 credit score on all platforms. I applied for this loan thinking I would have no issues at all as I have never been late or questioned for any credit in the past. I was wanting to purchase a jeep wrangler that was $4,000 under market value. After applying for the loan they had me submit multiple forms which I complied. They asked for proof of income which clearly shows I have an income of $160,000 and after submitting the requested forms I was denied for the loan. I'm confused who lightstream is trying to loan money to. I don't have any idea how a company this large will deny you on absolutely no reason and still be in business. Maybe they are wanting people who have terrible credit hitstory who will default on their loan..... I don't know. If you don't want a hard inquirey for nothing I'd recconmend not wasting your time with lightstream.
If your in a bind, it is an easy loan to obtain to help you through. The website is friendly and terms are pretty straight forward. They will try to sell you insurance and the interest is going to suck. Such is the nature of these types of loans. It is good for people who need something to just get through and have a plan for early payoff.
Apparently I had a loan officer, Chris from Cali, who not only quoted me a completely wrong interest rate. He avoided my calls in regards to canceling the application before I took a hard credit check. Finally a few days later a different representative had informed me that I was approved at a higher interest rate than what I currently have....
Not only did I cancel my application, now i have to wait for 2 years for this inqury to be removed from my credit score. Best to always work with a bank directly.
This Company stated I had to get a Warranty and Gap because i only owned 8k on my vehicle as well at a 649 doc fee they offered me a 4.5%. They stated they cannot get a loan for that little of money. Thats ridiculous Sabian stated as well that I can add it for 6 months then cancel it. I told no and I am going to look around. About a week later my phone got 6 calls ever day from Autopay and I repeatability told told them to stop calling and I already refinanced directly from Capital One. After 2 weeks of me asking them to stop calling and to add me to the do not call list I had to block there number. This is ridiculous. I cant believe this company exists. Dont use them
I paid off loan via bank tranfer, CapitalOne holds the title for 15 business days. They have the funds, it's not like I gave a check...it was a bank tranfer!! I will never do business with them again, nor do I recommend them for this process.
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