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4.7 out of 5 stars
26 Reviews

From Borrowers in the last year


Application Process

3.5 out of 5 stars

Customer Service

3.5 out of 5 stars

4.5 5

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These reviews were written by current and former borrowers in the last year.

Feb 07, 2017
So Easy, So Amazing
Anonymous Borrower

I bought a used car in February 2017 for $17,000.  My income is $50,000 and my credit score is 785.  I applied for a used car loan through local banks and my best offer was 4.99%.  I knew I could do better than that.  That's where Lightstream came into play.  After researching, I didn't think I would get approved since I read that they require substantial income (which I would say mine is not).  They also require excellent credit, which I knew wouldn't be an issue for me.  I had also read that they may require collateral for the loan.  I was unsure whether or not to apply, but they advertised rates as low as 2.49% for a 5 year used car loan.

With the possibility of cutting my APR in half, I took the extra hit on my credit report and applied.  An hour later I received an email stating that I was approved for the $17,000 at 2.49%! All I had to do was log onto their website and complete and sign the loan agreement and sign up for automatic payments from my bank account.  So I logged in and signed the loan agreement (their language is very fair FYI).  After that, I was allowed to pick the date when the funds would be deposited into my account (as soon as 2 business days after your application) and that was it.  No salary or asset verifications, no collateral, no nothing.  It was so easy I was honestly worried it could be a scam.  So I was holding my breath until the day when the funds were to be deposited into my account.  8 AM that morning, I logged into my bank account and the $17,000 was already there! Now I can go to the car dealership and be a cash buyer. There was no origination fee and no down payment required.  Even with my 4.99% offer from the bank I had to make a $1,500 downpayment.  Now I get to keep that down payment and my APR is 50% lower.

The entire process was so easy and so amazing! I would highly recommend Lightsteam to anyone who has excellent credit.

FYI - I did not deal with their customer service, so I cannot comment on that

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Feb 14, 2017

Can you make monthly payments with credit card?
Because I know with car refinance you can pay with credit card. Im looking for a refinance company that accepts credit card payments besides car refinance( they won't give me a quote unless they run my credit) don't want unnecessary inquiries.

Jan 15, 2017
Super Easy and Lowest Rates

The application process couldn't be easier and their rates have always been the lowest.  I've applied three times, but until recently never chose them because the banks the dealerships worked with were always competitive.  Also, until my last application I didn't qualify for the unsecured Anything loan.  With the unsecured Anything loan you don't have a leinholder, simplifying your vehicle ownership.  I've recommended this to many people and will continue to.

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Jan 13, 2017
Best. Car. Buying. Experience. Ever.
tajmrogers1 Borrower

My experience was Awesome.

It took less than 24 hours from the time I started my application to the time I had the same amount I had applied for then deposited into my personal checking account ($30,000 by 7 a.m.). Of that time, the application took about 5 minutes, then about 40 minutes before I received the request for verification information (pay stub and drivers license) which was submitted online, then about an hour before I had my final approval. 

This was all by email and their website. No faxing documents. No phone calls. No relentlessly scrutinizing every aspect of your finances with you over the phone expecting you to remember why you had that one late payment 6 years ago. 

Then you review and sign the contract electronically (straightforward without surprises), choose your payment date (my first payment not due for 6-7 weeks), and provide routing and account numbers for the account into which the loan funds are to be deposited.

I also chose to have my payments automatically withdrawn from my bank account (discounted interest rate that way), so that has to be provided as well (or simply check the box to have it withdrawn from the same account). They also require a personal credit card number for verification purposes but no charges to it are authorized or made.

Right away LightStream provides very simple instructions on what you and the dealer have to do to complete the loan process once you have received the funds. Then there are seriously ZERO surprises. I was stunned. 

There was one thing I wanted clarified a little better, so I contacted LightStream customer support through their online form and received a quick and friendly response that answered my question in about 30 minutes. It's not a live chat, and I had only a general question rather than anything specific about my account or loan, but I was impressed with the speed and ease--since most companies require a phone call and long hold times after navigating through menus before you can ever get an answer.

Once I picked the vehicle and negotiated the price, I got a cashier's check from my bank (this isn't a requirement, it just depends on whether your dealer will accept a personal check for tens of thousands of dollars and I didn't want any hassle when it came time to sign anyway). This basically made it a cash transaction at the dealership (though they do have to include the lienholder information), so it took all of 5 minutes to sign the paperwork.

The best part really was being able to go to the dealership to look for the right car and negotiate for the right price knowing I didn't have to worry about dealership financing gimmicks and pressure. It made the entire process better by an order of magnitude. 

I would absolutely refer people to LightStream and plan to return in a few years when it's time to upgrade our other vehicle.

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Feb 14, 2017

I saw you mentioned credit card
Can you make monthly payments with credit card?
Because I know with car refinance you can pay with credit card. Im looking for a refinance company that accepts credit card payments besides car refinance( they won't give me a quote unless they run my credit) don't want unnecessary inquiries.

Jan 09, 2017
super fast and easy
arnie2103 Borrower

Application was super fast easy.  I got my money within 2 days.  What surprised me the most it wasn't collateralized loan!  No info about my car was given to them.  They just wired the money that i asked for, 20k.  and essential said, use it as you see fit.  They gave me a lower rate because i set up auto withdrawal.  I paid it back prematurely with no problems.  I do have excellent credit.  Not sure what the process will be like for those that are not.  

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Dec 31, 2016

I've had my loan for over a year and a half. Expect the old bait-and-switch when you apply. I use autopay so I rarely have to talk to cutomer service, but when I do, I unfailingly speak with the most disgruntled and unhelpful employees. It's unforunate because this company operates in its own niche market with almost zero competitors. 

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Nov 03, 2016
Professional, reputable, fairly priced
Anonymous Borrower

Light Stream was one of the best companies I have ever dealt with.  Their fair, no hassel approach to obtaining a loan helped me toward my goals.

Would do business with them again in a heart beat!

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Oct 19, 2016
Anonymous Borrower

I have a credit score above 820 when i applied. The process was pretty flawless, except having to talk with them on the phone since i am self employed. They approved the loan within a week and funding was available immidiatly. If you have a questions, they reply within 24 hours. 

I wish my mortgage was being handled by them. 

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Oct 15, 2016
Fast, no fees, low interest rate
Anonymous Borrower

Income ~100k, credit score 720-750, applied for $17k used car loan and was instantly approved at the lowest rate (1.99% at the time).  Easy process to direct deposit into my checking account.  Lightstream explicitly asked NOT to be a lienholder on the car title, so that was one fewer step in purchasing the car.  No initial fees, no fees to pay off early.

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Nov 03, 2016

Would you mind sharing your credit utilization? I match your income and score but I have 51% UTIL. I'm afraid I'll be rejected because of heavy UTIL. I appreciate your help!

Oct 04, 2016
Quick and easy transaction!
mzindira Borrower

I bought a certified used SUV in March 2014. This is my third dealer purchase and I should've known better, but I put nothing down because I was going on maternity leave and bought it before pulling my credit. D.U.M.B. The dealership offered me a deal where I wouldn't have to pay at all for three months. Did I mention I was 45 days from maternity leave? I thought I'd refinance as soon as the 90 days were up, except I kept finding more things that my little bundle of joy "needed" and my credit score was steadily dropping. So, I couldn't beat the 7.09 I had without a significant downpayment, which I didn't have. 1 year later, when my credit score is good enough to refi and I had made enough extra payments to get me under 125% LTV, I have an accident. Back at 150% LTV. 

Lightstream to the rescue! I got a preapproval letter in the mail and ignored it. Yesterday, I thought about it and researched them and decided to apply. I got an email 20 minutes later saying it was in process. Recieved an email about an hour later saying it was approved and to log in for funding information. Logged in, saw an approval at 2.24 for 36 months, allowing me to pay off my loan a year early (yes I even stretched the payments 72 months: for shame) and keep the same payment. I accepted and e-signed the loan and this morning by 10:00AM, the funds were in my bank account.

When I purchased my vehicle, my auto-enhanced credit store was 685. When I applied yesterday, my auto-enhanced was 743. My actual credit scores were 701 (2014) and 749 (yesterday). Other reviews have stated that they are looking for 800+ , so this is not the case. I was terrified of being declined, but other than an inquiry (which I'm not buying anything else any time soon), it was worth a shot for me. It is an unsecured loan, so if you have prior defaults on credit cards on your report or move a lot, I'm not sure how likely approval odds are. I have had higher scores and lower scores and I promise, sometimes I don't know what these lenders are thinking. I applied to refi last year with an auto-enhanced of 803 and was told by a lender that I had to put down $4500 (this was a lender that does not advertise LTV limits).  If you're considering it and you know your credit score is 740-760+, I'd definitely go for it.P.S. Don't use Credit Karma scores. They are FAKOs, go to and get your real score.

Good Luck!

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