Advertiser Disclosure

If you’re planning to purchase a vehicle or refinance your current auto loan, you may be considering financial services from a company called LightStream. But is a LightStream auto loan the best option for you?

LightStream offers products and services that meet a variety of consumer needs, including purchase loans and refinancing for cars, homes, medical bills, and even weddings. In this review, we take a closer look at LightStream’s auto loans, explaining the application process, loan details, and LightStream’s customer reputation.

 

Lending Partner
Loan Term
Min. APR
Min. Credit Score
Highlights
Refinance Loan
Loan Term Up to 72 Months
Min. APR 2.25%
Min. Credit Score 580
Highlights
  • Excellent customer ratings
  • Low rates for good credit customers
  • Strong industry reputation
Used Car Loan
Loan Term 24-84 Months
Min. APR 2.24%
Min. Credit Score 800
Highlights
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Refinance Loan
Loan Term 48-84 Months
Min. APR 1.99%
Min. Credit Score 550
Highlights
  • Average monthly savings of $150
  • Work with a personal loan concierge to compare options
  • A+ BBB Rating
Refinance Loan
Loan Term 36-72 Months
Min. APR 2.91%
Min. Credit Score 640
Highlights
  • Apply online in minutes
  • A leading provider in refinance loans
  • A+ BBB rating
Used Car Loan
Loan Term Up to 72 Months
Min. APR 3.99%
Min. Credit Score 300
Highlights
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Refinance Loan
Loan Term 24-84 Months
Min. APR 1.99%
Min. Credit Score 800
Highlights
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
New Car Loan
Loan Term 24-84 Months
Min. APR 2.24%
Min. Credit Score 800
Highlights
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Refinance Loan
Loan Term 36-84 Months
Min. APR 1.99%
Min. Credit Score 560
Highlights
  • Average monthly savings of $145
  • Online Application
  • Browse loan options found specifically for you
Refinance Loan
Loan Term Up to 72 Months
Min. APR 3.99%
Min. Credit Score 300
Highlights
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Refinance Loan
Loan Term Up to 84 Months
Min. APR 2.49%
Min. Credit Score 500
Highlights
  • Specializes in auto refinancing
  • A+ BBB Rating
  • No application fee

All APR figures last updated on 6/13/2022 - please check partner site for latest details. Rate may vary based on credit score, credit history and loan term.

In This Review:

    About LightStream

    LightStream is a subsidiary of Truist bank, which has operated for over 120 years. Recently, SunTrust merged with BB&T to become Truist Financial Corporation. Truist is currently the sixth-largest bank holding company in the United States, and through LightStream, borrowers can get loans for auto purchases, home improvement, debt consolidation, swimming pools, medical bills, weddings, timeshares, and boats.

    LightStream is headquartered in San Diego. However, you can’t get service in person at a branch. LightStream auto loans are only available online.

    LightStream ProsLightStream Cons
    Offered through a bank with an established reputationMay not offer loans to those with bad or no credit
    High loan amount limitsDoesn’t have a shining customer service reputation
    No fees
    Broad range of loans available

    LightStream Auto Loans: Borrowing Limits, Interest Rates, And Fees

    You can use a LightStream auto loan to refinance your existing auto loan or to purchase a new, used, or classic car. LightStream funds your account directly, which means you can negotiate at the dealership as if you were paying with cash. Details about loan amounts, interest rates, and term lengths are outlined in the chart below.

    LightStream Auto Loan Details
    Loan Amount Range$5,000 to $100,000
    Loan Term Length24 to 84 months*
    Annual Percentage Rate (APR)3.49 to 10.49** percent (with AutoPay)
    Origination FeeNone
    Prepayment PenaltyNone

    Rate range as of 4/9/2022.

    Your loan’s APR will depend on a number of factors, including:

    • Your credit profile
    • Your loan purpose
    • The loan amount you choose
    • The payment term you choose
    • The payment method that you choose

    With LightStream’s autopay discount, you can save 0.5 percentage points off your APR if you choose to use autopay instead of making manual monthly payments.

    LightStream Loan Experience Guarantee

    The LightStream Loan Experience Guarantee*** promises to send $100 dollars to any customer that is unsatisfied with their loan experience. To collect this money, customers need to notify LightStream of their dissatisfaction within 30 days of receiving their loan and complete a questionnaire by email.

    LightStream Auto Loan Application Process

    Anyone can apply for a LightStream auto loan online and expect to receive a quick response. Simply be ready to provide your social security number and work history information. After a loan is offered, you can electronically sign your loan agreement and complete the paperwork entirely online. Borrowers can apply for a loan and receive funds on the same business day.

    There is no application fee, nor are there restrictions for vehicle age and mileage. While LightStream does not list a minimum credit score requirement for applicants, it does look for customers that have:

    • Several years of credit history
    • A demonstrated ability to save by having assets such as cash for a down payment, retirement savings, or a home
    • Stable and sufficient income
    • A good debt-payment history

    Drivers with excellent credit or even good credit will most likely be approved, but those with extremely low or no credit may have to look elsewhere. As with other lenders, drivers with the best credit records will find the lowest rates.

     

    Lending Partner
    Loan Term
    Min. APR
    Min. Credit Score
    Highlights
    Refinance Loan
    Loan Term Up to 72 Months
    Min. APR 2.25%
    Min. Credit Score 580
    Highlights
    • Excellent customer ratings
    • Low rates for good credit customers
    • Strong industry reputation
    Used Car Loan
    Loan Term 24-84 Months
    Min. APR 2.24%
    Min. Credit Score 800
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    Refinance Loan
    Loan Term 48-84 Months
    Min. APR 1.99%
    Min. Credit Score 550
    Highlights
    • Average monthly savings of $150
    • Work with a personal loan concierge to compare options
    • A+ BBB Rating
    Refinance Loan
    Loan Term 36-72 Months
    Min. APR 2.91%
    Min. Credit Score 640
    Highlights
    • Apply online in minutes
    • A leading provider in refinance loans
    • A+ BBB rating
    Used Car Loan
    Loan Term Up to 72 Months
    Min. APR 3.99%
    Min. Credit Score 300
    Highlights
    • Great for customers with limited/no credit
    • Offers special military rates
    • A+ BBB rating
    Refinance Loan
    Loan Term 24-84 Months
    Min. APR 1.99%
    Min. Credit Score 800
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    New Car Loan
    Loan Term 24-84 Months
    Min. APR 2.24%
    Min. Credit Score 800
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    Refinance Loan
    Loan Term 36-84 Months
    Min. APR 1.99%
    Min. Credit Score 560
    Highlights
    • Average monthly savings of $145
    • Online Application
    • Browse loan options found specifically for you
    Refinance Loan
    Loan Term Up to 72 Months
    Min. APR 3.99%
    Min. Credit Score 300
    Highlights
    • Great for customers with limited/no credit
    • Offers special military rates
    • A+ BBB rating
    Refinance Loan
    Loan Term Up to 84 Months
    Min. APR 2.49%
    Min. Credit Score 500
    Highlights
    • Specializes in auto refinancing
    • A+ BBB Rating
    • No application fee

    All APR figures last updated on 6/13/2022 - please check partner site for latest details. Rate may vary based on credit score, credit history and loan term.

    LightStream Reviews And Reputation

    LightStream is accredited by the BBB and holds an A+ rating. However, the company only has a 1.7 out of 5.0-star customer review score. That said, the company’s BBB page only has a handful of customer reviews at this time.

    LightStream has replied to all complaints on its BBB profile. Many complaints and negative reviews are from customers who were denied a loan. One customer seems to have encountered a scam impersonating LightStream, which offered them a fake loan and required various payments upfront. LightStream doesn’t charge payment processing fees or payment insurance fees.

    Below are examples of positive and negative LightStream reviews:

    “[It was] basically the easiest loan with the best rate I have ever applied for. It took 23 hours from online application to cash in my bank.”

    – Karen. via BBB

    “I have submitted loan applications maybe two times to LightStream […] My recent one was on ****** where I was denied again, and this is unfair as I have all of the requirements for the loan.”

    – Anonymous via BBB

    There weren’t too many positive reviews posted to the BBB website, though some customers who had loans approved seemed pleased with the application process.

    Our Take On LightStream: 3.5 Stars

    LightStream loans are offered through an established and reputable bank. This allows the company to offer high loan amounts at relatively low APRs. LightStream is a direct provider of auto loans, so customers can have their loan applications processed quickly and even receive money the same day they apply (conditions apply).

    Overall, here’s how we rate LightStream:

    Motor1 Rating3.5
    Loan Details4
    Loan Availability3.5
    Application Process4
    Customer Service3

    The most concerning factor for LightStream is its parent company’s poor customer review profile. There are not many positive reviews online, and many customers seem to have difficulty receiving the service they want. However, given the size of Truist, the volume of complaints is relatively low.

     

     
    Lending Partner
    Loan Term
    Min. APR
    Min. Credit Score
    Highlights
    Refinance Loan
    Loan Term Up to 72 Months
    Min. APR 2.25%
    Min. Credit Score 580
    Highlights
    • Excellent customer ratings
    • Low rates for good credit customers
    • Strong industry reputation
    Used Car Loan
    Loan Term 24-84 Months
    Min. APR 2.24%
    Min. Credit Score 800
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    Refinance Loan
    Loan Term 48-84 Months
    Min. APR 1.99%
    Min. Credit Score 550
    Highlights
    • Average monthly savings of $150
    • Work with a personal loan concierge to compare options
    • A+ BBB Rating
    Refinance Loan
    Loan Term 36-72 Months
    Min. APR 2.91%
    Min. Credit Score 640
    Highlights
    • Apply online in minutes
    • A leading provider in refinance loans
    • A+ BBB rating
    Used Car Loan
    Loan Term Up to 72 Months
    Min. APR 3.99%
    Min. Credit Score 300
    Highlights
    • Great for customers with limited/no credit
    • Offers special military rates
    • A+ BBB rating
    Refinance Loan
    Loan Term 24-84 Months
    Min. APR 1.99%
    Min. Credit Score 800
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    New Car Loan
    Loan Term 24-84 Months
    Min. APR 2.24%
    Min. Credit Score 800
    Highlights
    • Below-average credit scores accepted
    • Great interest rates
    • Smooth and easy online experience
    Refinance Loan
    Loan Term 36-84 Months
    Min. APR 1.99%
    Min. Credit Score 560
    Highlights
    • Average monthly savings of $145
    • Online Application
    • Browse loan options found specifically for you
    Refinance Loan
    Loan Term Up to 72 Months
    Min. APR 3.99%
    Min. Credit Score 300
    Highlights
    • Great for customers with limited/no credit
    • Offers special military rates
    • A+ BBB rating
    Refinance Loan
    Loan Term Up to 84 Months
    Min. APR 2.49%
    Min. Credit Score 500
    Highlights
    • Specializes in auto refinancing
    • A+ BBB Rating
    • No application fee

    All APR figures last updated on 6/13/2022 - please check partner site for latest details. Rate may vary based on credit score, credit history and loan term.

    FAQ: LightStream Auto Loans