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LightStream Auto Loan Review: Your Cash Your Choice!

LightStream Auto Loan Review: Your Cash Your Choice!

Is your credit score good? That's all you need to finance with LightStream; the company has a handful of financing options for significantly low interest rates. Besides offering many financing solutions, including personal and auto loans, LightStream has low and fixed interest rates; fixed rates give peace of mind for those who prefer predictable payments, which won't change in cost over time. In short, this article is all about LightStream auto loans, how to get prequalified, and what to expect when choosing LightStream to be your lender.


No restrictions on mileage, car model or make
$100 back for borrowers who are not satisfied with their loan
Cash deposit as soon as the same day
Interest rates are low compared to other lending companies
Predictable payments due to the fixed APR rates


Lowest rates are available only for excellent credit score
Lack of multiple support options, unless you're a customer already


Quick Stats

Average Approval Time
Depends on the type of lender
Maximum Loan Amount
Maximum Loan Term
84 months
Minimum Credit Score
660 or higher
Minimum Starting APR (Annual Percentage Rate)
Pre-Qualification Valid For
30 Days
To summarize, here's what you'll get with LightStream:
Low and fixed interest rates range from 3.49% – 20.49%.
No restrictions on mileage, making it more flexible for the borrowers to have any car of their choice.
Funds are deposited on the same day of approval.
Borrowers get the cash in their accounts, and they are free to choose any dealer or private seller.
Easy and fast applying process.
LightStream is a Norton secure website, preventing scam attempts and fraudsters.
Lightstream cares about the environment and helps plant new trees with every loan.

Who Is Eligible to Join LightStream?

Thinking of your auto loan approval odds? The chances are you'll get approved by LightStream if your credit score is 660 or above, so if you do not have a very good credit score, you'll more likely not be eligible for an auto loan with LightStream.

How excellent your credit score isn't the only thing you should bear in mind, LightStream, as we mentioned earlier, offers fixed APR rates, which is a great option to predict payments upfront, but if you want to get affordable short term financing, LightStream might not be the perfect pick for you.

ARP rates vary depending on the loan type, term, and amount. However, the lowest rates are available for those with an excellent credit score.

Unlike many other auto loan services, LightStream doesn't require a minimum monthly income or maximum mileage and doesn't put restrictions on the car model, make, or year.


A good credit score is all you need!


Filters and Features

LightStream doesn't have partnerships with certain dealers or inventories. You already know by far that it doesn't require a specific car make, model, or year, giving the borrower the ultimate freedom to choose which dealer to get a vehicle from and for what price.

Once your application is reviewed and approved, you'll get the cash deposited in your account as soon as the same day. Choosing the car is the borrower's responsibility start from this point; this is a great option also if the borrower wants to negotiate a car's value and get a better idea.


How secure is LightStream's website?

You can count on LightStream to avoid any fraud, scam attempts, and identity theft. So, to make sure that your information isn't shared with the wrong party, you need first to make sure that you're talking to a LightStream agent before you start sharing any of your information.

LightStream follows some serious security procedures to guarantee no cybercrime is taking place. Here are some steps the company applied to protect its customers:

  • After a borrower fill its application, whether, through the website or the mobile application, LightStream calls the client to verify its application and information, leaving zero chance for identity theft and fraud.
  • Be confident that LightStream won't call you asking to confirm your personal information before applying. This means you shouldn't reply to any confirmation requests you receive before you submit an application.
  • If you receive a call telling you that you've been approved for a loan you didn't apply for, then it's not LightStream.
  • LightStream won't charge you any fees before signing your agreement, and the only money it will ask for is your monthly payment, and that's after you sign the loan agreement and finalize the offer.
  • LightStream is secured by Norton 360; you can head to the official website and click on the Norton Secured logo to confirm the website's identity.
  • To protect the client's personal and financial information, LightStream employs 128-bit encryption used by the military and governmental entities.
  • Security at the physical level is also available since the client's information is kept in secure areas in their building and offsite on data processing facilities.
  • LightStream provides more security options if you want to stop anyone from accessing your account, even if they have the password and user ID with the AccountLock feature.


Click here to do the calculation!


Financing and Prequalification

Whether you're using the website or the mobile application, you'll have the chance to get the calculation done for you. The calculation is done using the amount of loan and the credit score, and after the calculation is done, you can check your estimated monthly payment for different loan terms.

LightStream allows choosing from multiple loan term options, including 36, 48, 60, 72, and 84 months. Expectedly, longer terms have lower monthly payments. Let's take the following example. The loan amount in this example is the lowest auto loan amount: $5,000, and the credit score is excellent:

New auto loan cost estimation:

Factors are $5,000 and excellent credit score.

  36 Months 48 Months 60 Months 72 Months 84 Months
Monthly Payment $150 $116 $97 $84 $75
APR 4.99% 5.59% 6.19% 6.44% 6.69%


Used auto loan cost estimation from a dealer:

Factors are $5,000 and excellent credit score.

  36 Months 48 Months 60 Months 72 Months 84 Months
Monthly Payment $150 $116 $97 $84 $75
APR 4.99% 5.59% 6.19% 6.44% 6.69%


Used auto loan cost estimation from an individual:

Factors are $5,000 and excellent credit score.

  36 Months 48 Months 60 Months 72 Months 84 Months
Monthly Payment $152 $119 $99 $86 $77
APR 5.99% 6.59% 7.19% 7.44% 7.69%



Loan buyout cost estimation:

Factors are $5,000 and excellent credit score.

  36 Months 48 Months 60 Months 72 Months 84 Months
Monthly Payment $152 $119 $99 $86 $77
APR 5.99% 6.59% 7.19% 7.44% 7.69%


Click here to do the calculation!

LightStream doesn't have a prequalification process. However, you can get a preapproval that lasts for up to 30 days, allowing you enough time to weigh your options and make up your mind on a solution.

To apply for an auto loan, you'll need to complete the 4 different sections of the application: Loan information, personal information, security information, and confirm and the confirmation and submission part, as shown below:



In general, the basic information you need to provide include:

  • Loan amount
  • Loan type
  • Monthly income
  • Loan term
  • Zipcode
  • email address
  • physical address
  • employment status
  • preferred security options and other security factors


Warranty and Protection

LightStream allows choosing the dealer without limiting customers with certain models, makes, or manufacturers. Once you receive the cash in your account, you can head to any dealer you want and even negotiate on the car's value to get a better deal.

LightStream also has no direct communication with the dealers, neither does it give you suggestions or options regarding the vehicle's model or make. Instead, it puts the cash in your hands and leaves it up to you to do whatever you want with it.

But apart from the warranty, LightStream gives unsatisfied clients a $100 back if they're not really satisfied with their loan or have any complaints regarding it.


Customer Support

LightStream supports its clients via the following options:

  • Phone support if you receive a suspicious call or believe that your account has been compromised
  • Email 
  • Frequently asked questions (FAQs)
  • Articles and guides


Finance your vehicle today!

Final Verdict

LightStream is one of the leading companies with multiple financing solutions and flexible loan terms. But if your credit score isn't 660 or above, you might not be eligible to join. Also, LightStream doesn't impose any restrictions regarding car make, model, or year of manufacturing.

Does LightStream require a minimum credit score?
What is the longest auto loan term?
How long does LightStream preapproval last?
What is the maximum auto loan amount?
Does LightStream require a maximum car mileage?
How long does it take for an auto loan to get approved?
Is LightStream legit and secure?