Lightstream offers a virtually paperless online process with no appraisal on age or mileage. If you have good credit, it’s simple to get a low-interest, fixed rate loan from $5,000 to $100,000 with funding as quick as your application day.
Typically, the estimated annual percentage rate (APR) for Lightstream loans is 6.49-12.49% with a minimum credit score of 660.
If you want a reliable loan for your used car, this online lender is a great option for your if you have fair to excellent credit. Additionally, Lightstream offers a new car loan as well as refinancing options on your current auto loan.
Upon application submission, Lightstream will run a hard inquiry credit report to determine down payment requirements, minimum loan amount, and monthly payments.
Overall, Lightstream has competitive rates with no origination or late fees. There are no vehicle or mileage restrictions and finances are accepted from private party purchases. They also offer a rate discount with automatic loan payment setup.
For some borrowers, Lightstream has a high minimum credit score requirement. Lightstream has bankruptcy restrictions, although the rest of their requirements are generally flexible.