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According to the most recent State of the Automotive Finance Market report, the total balance of open automotive loans increased 11.1% in Q1 2016, reaching $1.005 trillion - up from $905 billion in Q1 2015. This is the first time on record that automotive loans have passed the $1 trillion mark. The report also revealed that subprime loan volumes experienced double-digit growth. Source: Experian

LightStream Auto Loan Reviews

Affiliate disclosure: Automoblog and its partners may be compensated when you purchase the products below.

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.

Compare Auto Loan Rates

Compare which options fit your budget, credit score, and term length below.

Loan Term
All
  • All
  • Up to 84 months
  • 24 to 84 months
  • 36 to 84 months
  • 36 to 72 months
  • 12 to 72 months
Min. Credit Score
All
  • All
  • 300
  • 500
  • 560
  • 575
  • 580
Brand
Min Cred Score
Min Rate Term
Min APR*
Features
Min
Cred Score
580
Min
Rate Term
Up to 84 months
Min
APR*
3.2%
  • Get approved in as little as 60 seconds
  • All credit types gladly accepted
  • Absolutely no obligation
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.94%
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
560
Min
Rate Term
36 to 84 months
Min
APR*
1.99%
  • Average monthly savings of $145
  • Online Application
  • Browse loan options found specifically for you
Min
Cred Score
300
Min
Rate Term
36 to 72 months
Min
APR*
3.99%
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Min
Cred Score
300
Min
Rate Term
36 to 72 months
Min
APR*
3.99%
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.49%
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
500
Min
Rate Term
12 to 72 months
Min
APR*
1.99%
  • Specializes in auto refinancing
  • A+ BBB Rating
  • No application fee
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.69%
  • Below-average credit scores
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
580
Min
Rate Term
36 to 72 months
Min
APR*
2.83%
  • Average savings of $111/month
  • Secure, fully online platform
  • Refinancing available for cars, trucks, or SUVs

Our Take On LightStream: 4.3 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:

Automoblog Rating4.3
Loan Details5.0
Loan Availability3.9
Reputation4.5
Customer Service3.4

Lightstream Auto Loan Pros and Cons

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

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.

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 Auto Loan Details

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)5.99 to 12.49** percent (with AutoPay)
Origination FeeNone
Prepayment PenaltyNone

Rate range as of 11/21/2022.

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.

Compare Auto Loan Rates

Compare which options fit your budget, credit score, and term length below.

Loan Term
All
  • All
  • Up to 84 months
  • 24 to 84 months
  • 36 to 84 months
  • 36 to 72 months
  • 12 to 72 months
Min. Credit Score
All
  • All
  • 300
  • 500
  • 560
  • 575
  • 580
Brand
Min Cred Score
Min Rate Term
Min APR*
Features
Min
Cred Score
580
Min
Rate Term
Up to 84 months
Min
APR*
3.2%
  • Get approved in as little as 60 seconds
  • All credit types gladly accepted
  • Absolutely no obligation
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.94%
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
560
Min
Rate Term
36 to 84 months
Min
APR*
1.99%
  • Average monthly savings of $145
  • Online Application
  • Browse loan options found specifically for you
Min
Cred Score
300
Min
Rate Term
36 to 72 months
Min
APR*
3.99%
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Min
Cred Score
300
Min
Rate Term
36 to 72 months
Min
APR*
3.99%
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.49%
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
500
Min
Rate Term
12 to 72 months
Min
APR*
1.99%
  • Specializes in auto refinancing
  • A+ BBB Rating
  • No application fee
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.69%
  • Below-average credit scores
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
580
Min
Rate Term
36 to 72 months
Min
APR*
2.83%
  • Average savings of $111/month
  • Secure, fully online platform
  • Refinancing available for cars, trucks, or SUVs

LightStream Customer Reviews And Reputation

LightStream is accredited by the BBB and holds an A+ rating. However, the company only has a 1.25 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.

LightStream Car Loan Review: Conclusion

Our review team rated lightstream car loan a 4.3 out of 5.0 stars for their good rates and high loan amounts. LightStream has shaky reviews, but they do not reflect their entire customer base. We recommend searching around and comparing options before making a decision on an auto loan provider.

Compare Auto Loan Rates

Compare which options fit your budget, credit score, and term length below.

Loan Term
All
  • All
  • Up to 84 months
  • 24 to 84 months
  • 36 to 84 months
  • 36 to 72 months
  • 12 to 72 months
Min. Credit Score
All
  • All
  • 300
  • 500
  • 560
  • 575
  • 580
Brand
Min Cred Score
Min Rate Term
Min APR*
Features
Min
Cred Score
580
Min
Rate Term
Up to 84 months
Min
APR*
3.2%
  • Get approved in as little as 60 seconds
  • All credit types gladly accepted
  • Absolutely no obligation
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.94%
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
560
Min
Rate Term
36 to 84 months
Min
APR*
1.99%
  • Average monthly savings of $145
  • Online Application
  • Browse loan options found specifically for you
Min
Cred Score
300
Min
Rate Term
36 to 72 months
Min
APR*
3.99%
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Min
Cred Score
300
Min
Rate Term
36 to 72 months
Min
APR*
3.99%
  • Great for customers with limited/no credit
  • Offers special military rates
  • A+ BBB rating
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.49%
  • Below-average credit scores accepted
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
500
Min
Rate Term
12 to 72 months
Min
APR*
1.99%
  • Specializes in auto refinancing
  • A+ BBB Rating
  • No application fee
Min
Cred Score
575
Min
Rate Term
24 to 84 months
Min
APR*
2.69%
  • Below-average credit scores
  • Great interest rates
  • Smooth and easy online experience
Min
Cred Score
580
Min
Rate Term
36 to 72 months
Min
APR*
2.83%
  • Average savings of $111/month
  • Secure, fully online platform
  • Refinancing available for cars, trucks, or SUVs

Lightstream Auto Loans Reviews: FAQ

In the section below are some frequently asked questions about Lightstream auto loans:

Are LightStream loans fixed-rate?

Yes, LightStream loans are fixed-rate installment loans. This means market fluctuations won’t influence your auto loan rate. You’ll pay the same interest rate for the life of the loan.

What credit score do you need for a LightStream auto loan?

LightStream does not explicitly list a minimum credit score. Borrowers with good to excellent credit can qualify. The best rates are available for borrowers with excellent credit.

Is it hard to get approved by LightStream?

LightStream’s approval guidelines are a bit more strict than other lenders. LightStream prefers that you have built a good credit history over time and have a good score. LightStream also doesn’t offer a preapproval process for a preliminary check.

How does a LightStream car loan work?

Instead of paying the dealer, LightStream pays you directly when you secure an auto loan. You can then take that balance to a dealer and negotiate as if you had cash, which can help you find a better purchase price.

Is LightStream.com legit?

Yes, LightStream is a reputable online lender and part of Truist bank. LightStream offers auto loans to buyers with good credit through an easy online process.

*Payment example: Monthly payments for a $10,000 loan at 5.99% APR with a term of 3 years would result in 36 monthly payments of $304.17.

**Your loan terms, including APR, may differ based on loan purpose, amount, term length and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.

***Loan Experience Guarantee: After receiving a loan from LightStream, if not completely satisfied with the experience, the customer can contact LightStream. LightStream will email a questionnaire to the customer so LightStream can improve our services. When LightStream receives the completed questionnaire, they will send the customer $100. LightStream’s guarantee expires 30 days after the customer receives their loan. LightStream reserves the right to change or discontinue the guarantee at any time. Limited to one $100 payment per funded loan. Truist teammates do not qualify for the Loan Experience Guarantee.