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LightStream

Application Process
Customer Service
3.8 5

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Current Loan

This Loan

 

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Balance

$10,000

$10,000

$0

Term (Months)

60

N/A

Down

60

 

Estimated Interest & Fees

$14,000

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Down

$14,000

Interest Cost

$14,000

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Down

$14,000

Lender Fees

N/A

$0

$0

 

Total Monthly Payment

$400

--

Down

$400

 
Savings:
Monthly Payment Savings over 1 Year

$4,800

Interest & Fee Savings over 5 Years

$14,000

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  • Most Helpful Positive Review

    Quick, Easy, Love Lightstream!
    Helpful to 6 out of 6 people

    I wanted a quick used car loan at a great rate! Lightstream provided that. The application process was easy! I got a call immediately. Answered a few questions. Had the funds in my account the next day! It was fantastic. :) 

    Read More

    Most Helpful Critical Review

    Major issues with loan payoff
    Helpful to 10 out of 10 people

    I worked with my credit union to consolodate my automotive loans. My credit union sent Lighstream a check to the confirmed proper address with my double confirmed proper account number, but Lightstream continues to insist that I have not had my loan paid off and that they don't know where the money went? WTF?? My credit untion even sent them paperwork providing proof that the check was cleared and was properly documented.

    My credit union will never work with Lightstream again.

    Read More

    Reviews (85)

    AMAZING!

    Applied on a Sundy afternoon and received a call the following Monday morning to ask me a few questions and emailed a check stub. Finalized a $20,000 Timeshare refinance loan at %7.5 percent rate that same day and had deposit in my bank account that Wednesday. Amazingly easy process with great repayment terms!

    Read More

    faithwarrior316's review was:    

     
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    Extremely fast and easy transaction

    I needed to refinance my 4.69% auto loan so I applied through Lending Tree and was referred to LightStream yesterday. The whole process only took a few hours and I was offered a rate of 2.39% and asked when I needed the funds. I chose today's date and the $ was sitting in my account this morning. Original loan will be paid off tomorrow, and I couldn't be happier with the outcome. They're a great, no-nonsense company that I will definitely use again in the future.

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    Easy to get - but read the fine line
    Helpful to 3 out of 4 people

    My loan was easy and painless, a solid rate and quick. I do have excellent credit so they had no risk really. BUT, I asked when I made the loan happen if I could make extra payments to my principal without penalty or interest. Yes, I was told. I have made two extra payments and I just noticed I was being charged interest!!! I called and there explanation is that the extra payments have to be made on the exact same day as the scheduled monthly payment! That is so lame and I was not told of this. I have paid off this loan and will not use them again. 

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    netzerosolar's review was:    

     
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    Super easy and quick!

    Submitted application online at 8pm.  Loan approved at 9:45 am the next morning with great rate after a 5 minute easy phone interview.

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    Approved for personal loan - 731 score
    Helpful to 1 out of 1 people

    Was trying to find a way to get the remaining $4400 off of a 30% credit card without opening more credit cards with short term promotions, which never seem to end up as good as the promotion makes them sound. Submitted online app to Lightstream Wednesday just after midnight. Got an email to call the following day to answer some questions, which I did. Got an email shortly after that it was approved and ready. I actually requested $6009, which was approved at 10% with a 30 month term. The extra was to pay off a different $1500 personal loan that was also at 10%, but combining them now makes the payment to Lightstream pretty easy - I was already paying that much before, but much of it going to interest. I see many reviews saying they want 800+ score, and others saying they want liquid assets, and they also seemed interesting in how much you have in 401k, 457, etc... I make $66,000/year, have a 731 credit score, have minimal in liquid assets ($900), and have no retirement $$$'s that I can get to unless I quit my job of 20+ years. Then I can cash out the retirement if I want. They asked what the high credit card balances were from - day-to-day spending? For me, nope - it was more from 4-5 high dollar unexpected incidents (shoulder surgery, cat broken arm, etc...). And then furlough days at work the past 5 years made it harder to pay things down. I also had closed that 30% Chase credit card a few months ago, so no reason to think I'm going to run that back up again, although closing it after having had it for maybe 20+ years probably hurt my credit score no doubt. But it seems like Lightstream looks at the overall picture, not just individual pieces. I saw reviews from people with 800+ credit scores making $100,000+ and not being approved for what they were asking for. Too many unknown variables to know why - at the job for only a year, or maybe wanting a car loan for $60,000, etc... Lightstream, from what I can tell, seems to look for long-term stable people that will find ways to re-pay even in hard times. And sometimes the quickest people to declare bankruptcy are the ones that can best start over again quick and re-build in a few years. How many celebrities and sports people have made many millions and then declare bankruptcy at some point because of money mismanagement? I'm guessing Lightstream isn't looking to lend to people that want to live extravagently, but rather the common joe that manages his finances within reason, and will put in extra effort to make sure he pays them back.

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    Best lending experience I've ever had
    Helpful to 1 out of 1 people

    I can't say enough good things about this company and the experience. Being young and inexperienced, years ago I opted for financing provided by an auto dealership at 4.5%. This wasn't an awful rate at the time, but given my credit score I decided a year later I should have done better. Through a stroke of luck I found lightstream and pursued a refinance. For that first loan I got the lowest rate they were offering at the time which was 2.19%. They conditionally approved me about 30 minutes after submitting the application contingent on some documentation proving income and assets. The experience was so good that I financed my a car for my wife and got another 2.19% rate. After a crash which totaled one vehicle I just applied for another, larger, loan and got approved in about an hour with no documentation or underwriter contact required. In case it helps I have a 797 and my wife a 794 credit score. I really can't recommend lightstream enough. Don't listen to those who were denied as it was probably for good reason. 

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    Super Easy if you have Excellent Credit
    Helpful to 2 out of 4 people

    Applied for used Auto Loan for $15K at 1.99%  .  I am married, but applied as single individual.   Received an email within 15 minutes of application submission asking for a pay stub.   Submitted pay stub  via website.  10 minutes later got an email asking me to call.  I called and and answered some questions regarding some joint obligations I have with my wife (mortgage) that both of us pay.    10 minutes later received an email saying i was approved.  Funded same day.  No lien.  I would use them again without hesitation.   Like previous reviewers have mentioned, if you don't have excellent credit and can show you can afford the amount you are requesting, you may have a different less satisfied experience.

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    Simple process, would use again!
    Helpful to 2 out of 2 people

    I borrowed 65k for 24 months and got the 1.99% rate.  I ended up paying the loan off early as it was a bridge loan for a new vehicle, I needed money out of escrow to pay off the loan which is what I did.  I thought the process was simple and would not hesitate to use them again.  Sure makes you feel confident walking into a car dealership having the ability to skip the finance department! 

    I can't get over all of the bitter people who got denied!  People saying they have $400k annual income and no mortgages, if you need a small loan for a boat or auto, perhaps you aren't managing your money properly.  

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    Quick & Easy

    Took less than 15 minutes to get approved, 830 & wife 810 Credit rating. $25k at 1.99% 60 months.

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    Best Rate, Amazing, Quick, Easy
    Helpful to 2 out of 3 people

    Lightstream is a division of Suntrust Bank, which is who I have 3 mortgages through.  I applied for a 25K loan for a 2012 Audi A5 Convertible on 12/20 at 7:14pm because of their 1.99% rate on a used auto loan, 60 months, got this reply:

    Thank you for considering LightStream for your financial needs. We have received your application and will be reviewing it shortly. We will email you during our normal business hours, no later than Monday morning, December 22, 2014 Pacific time regarding our credit decision or any questions that we may have.

    Got this email on Sunday 12/21 at 12:29pm:

    Your loan application has been approved! Your interest rate will be 1.99% based on the loan purpose you selected, the terms of your loan, and your credit profile. Please note that you must use your loan proceeds for the loan purpose that you indicated in your loan application.

    and at the bottom of the email:

    Important Reminder:

    Do NOT have LightStream listed as a lienholder on your vehicle title or loss payee on your insurance policy. If your lender or insurance company inquires, just tell them that you did NOT use secured financing. This will save each of us paperwork hassles in the future. Thanks!

    I don't understand them not wanting to be listed as loss payee, but I'm not complaining.

    Read More

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    Company Overview

    LightStream is an online consumer lending division of SunTrust Bank, a Georgia banking corporation. LightStream offers a virtually paperless application, approval, signature, funding and servicing process allowing you to save not only on our natural resources but on expenses as well.

    Borrowers can apply online and list loan requests ranging from $5,000 to $100,000. They offer fixed rate, simple interest installment loans all with no fees or prepayment penalties. You can set up an account online making monthly payments easy for borrowers to manage.

    Founded in 1985, SunTrust is headquartered in Atlanta, Georgia. SunTrust has 1,659 bank branches throughout the Southern states.

    **Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at lender websites. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 7% to 30%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval. When evaluating offers, please review the lender’s Terms and Conditions for additional details.