LightStream Auto Loans: Fast, Flexible, Unsecured Loans

LightStream Auto Loans shine for borrowers with good to excellent credit who value speed, flexibility, and complete control.

LightStream (a division of Truist Bank) offers easy-to-access auto loans—designed for people with strong credit who want a fast, straightforward experience. Unlike traditional auto financing, LightStream provides unsecured personal loans, meaning your car isn’t tied to the loan. It’s ideal if you prefer speed, flexibility, and simplicity—and don’t mind a slightly higher interest rate.

Why LightStream Stands Out

• Unsecured Loans, No Collateral Needed
  You borrow from $5,000 to $100,000 without using the vehicle as collateral.
• No Vehicle Restrictions
  Finance any car—new, used, dealer, or private-party—regardless of age, mileage, make, or model.
• Quick Online Process
  Apply in minutes and, if approved by 2:30 p.m. ET on a business day, receive funds same-day.
• Autopay Rate Discount
  Opt into autopay to shave 0.50% off your APR—just make sure you enroll before your loan funds.
• No Fees, No Prepayments Penalty
  Embrace transparent terms with no origination or late fees, and no penalty if you pay off early.

What to Know Before Applying

• Strong Credit Required
  You typically need a FICO® score of 660 or higher, and most borrowers with the best rates have excellent credit (~740+).
• Minimum Loan Size
  You must borrow at least $5,000—smaller used-car purchases may need a different lender.
• No Soft Prequal or Cosigner Option
  LightStream doesn’t offer rate estimates without applying—and cosigners aren’t permitted, though co‑applicants are.
• APR Range
  Rates start around 6.49% with autopay and can go up to about 15–16%, depending on credit.
• Unsecured Means Funds to You
  LightStream sends money directly to your account; you handle the payment to the dealer or seller.

How to Apply for a LightStream Auto Loan

1. Start Your Application Online
   Go to LightStream’s site and choose “Auto Loan.” Enter loan purpose, amount, term, and whether you’ll enable autopay.
2. Share Personal & Financial Info
   Provide details like SSN, employment, income, assets, and loan history. LightStream looks for a solid financial background.
3. Review Your Offer (Hard Credit Pull)
   Once you submit, a hard credit check is performed. If approved, they’ll present your final APR and loan details—no haggling needed.
4. E-sign and Fund Same Day
   Sign your agreement electronically before 2:30 p.m. ET on a business day, and funds get deposited into your account that day.
5. Pay the Seller of Your Choice
   Once funded, you can pay your dealership or private seller directly—it’s your choice.
6. Manage Payments and Rate Savings
   Set up autopay to enjoy the rate discount. Make payments online, by phone, or via bank transfer.

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