Availability: All 50 states.
LightStream is an online consumer lending division of SunTrust Bank. LightStream started in 2013 and they have a goal to deliver a revolutionary loan experience to responsible consumers. They concentrate on rewarding individuals who have established good credit by offering them a simple loan process and excellent rates. LightStream is definitely not a good lending option for individuals with low credit scores. However, if you have a strong credit history, LightStream offers loans for just about anything. From classic car financing to dental loans, you can find a loan on LightStream to assist your next big purchase.
LightStream Image 2SunTrust BBB

The Good

Since LightStream only offers loans to individuals who have established good credit, they emphasize excellent customer service and a positive loan experience to all of their borrowers. In fact, LightStream provides a $100 guarantee that your loan experience will be the best you have ever had. Here are a few things we liked:

  • Low APR interest rates (as low as 1.74% APR with AutoPay)
  • As low as 3.04% APR with AutoPay for purchase from private party
  • APR is not affected by your vehicles year, make, model, or mileage
  • Extended term length available (up to 84 months)
  • No down payment required
  • No mileage limit
  • A+ BBB rating (in association with SunTrust Bank)
  • Unsecured loans available (no collateral)
  • All loans have a fixed rate
  • All loans have no associated fees (None. No early pay-off or application fees)
  • Easy online application (quick response during business hours)
  • Funds are deposited directly into your bank account upon finalization of agreement
  • Funds can be used at any vendor associated with the loan purpose
  • Easy online and mobile account management
  • Environmentally friendly and virtually paperless company

If all these options aren’t enough, LightStream also plants one tree for every loan that they process. Now that is a company who cares.

The Bad

Although LightStream has excellent options for car loans, unfortunately, they do not offer any bad credit loans. If you want to qualify for a loan with them, you need to have a solid history of good credit. Additionally, LightStream does not offer a free credit check since they expect all of their customers to have a high credit score. Another thing to consider is LightStream’s advertised interest rate. Although they offer a low APR, their interest rates are highly dependent on the loan term, loan amount, credit profile, and loan payment method. LightStream openly advertises that the lowest APR interest rates are exclusively for customers with excellent credit. Lastly, LightStream is an environmentally friendly company. This means if you choose to receive an invoice instead of enrolling in AutoPay, your interest rate will be increased by 0.5% as a penalty for not going paperless.

The Bottom Line

Although LightStream requires a high credit score from their customers, their company values reflect an emphasis on service and community. We would recommend LightStream as an excellent source for your auto loan. With an A+ BBB rating and positive loan experience guarantee, you can be sure LightStream will be there to help you manage your auto loan every step of the way.

View LightStream’s Terms and Conditions

Not looking for LightStream Car Loans? Try this page:

LightStream Personal Loans

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