LightStream, is a division of SunTrust Bank, offering secured and unsecured auto loans with fixed rates starting at 3.99 percent APR.
Loans can be applied for online via phone, tablet or computer and are available for a variety of purchase types:
Loan amounts: $5,000–$100,000
Loan terms: 24–84 months
Max APR: 3.99%–17.49% APR
Keep reading for pros and cons of borrowing with this lender.
LightStream offers a Rate Beat Program. If you find and are approved for a lower rate with another lender, this company will beat the competing rate by 0.10 percent.
With LightStream, same-day funding is available. This is not always an option when it comes to auto financing.
Lightstream offers an interesting guarantee to customers. If you're not completely satisfied with your loan experience, contact the company. It will email you a questionnaire and send you $100 for filling it out. This guarantee expires 30 days after you get your loan.
While many car loan companies have vehicle requirements outlining which makes and models it will finance and which it won't, this company is more lax. LightStream is more stringent with its borrowers than they are about vehicle requirements for lending.
If you like trees and the environment, you should know that LightStream works with a foundation called American Forests. Since 2013, the lender has planted a tree for every loan funded.
Like many auto lenders, if you sign up for autopay, you can get a rate discount of 0.5 percent APR.
Although LightStream has excellent options for car loans, unfortunately, the company requires customers to have good or excellent credit. If you want to qualify for a loan with LightStream, you need to have a solid history of good credit.
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