How good are LightStream auto refinance loans? This question is about LightStream

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How good are LightStream auto refinance loans?

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This question is about LightStream

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Adam McCann, Financial Writer

@adam_mcan • 10/03/19

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LightStream auto refinance loans are inexpensive, and they offer the potential for a lot of funding very quickly. In fact, auto refinance loans are some of the cheapest loans that LightStream offers, with APRs as low as 3.99%. Borrowers take out the loan from LightStream and then use it to pay off their existing car loan. This effectively “refinances” the car loan and can allow the borrower to pay off the balance at a lower interest rate.

LightStream’s auto refinance loans reportedly require a credit score of at least 660 to qualify. For context, the credit bureau Experian states that the average auto loan APR for a new vehicle ranges between 7.52% and 14.41% for people with a credit score of 660. So LightStream’s refinancing option is extremely cheap, even if you only qualify for the highest rate of 8.84%. There are several other important details to know about LightStream auto refinance loans, too.

LightStream auto refinance loan details:

APRs: 3.99% - 8.84%
Fees: None
Loan amounts: $5,000 - $100,000
Loan lengths: 24 - 84 months
Approval/funding timeline: As soon as the day you apply; usually within 2 business days.

LightStream also has a few other great perks. The first is their “Rate Beat Program.” LightStream says they’ll beat a rate a competitor offers you by 0.1 percentage points. But you’ll need to prove you were approved for a loan with said competitor by 2 p.m. EST the business day before your LightStream loan gets funded. And if you’re not completely satisfied with your loan, you can fill out a questionnaire and receive $100 back from LightStream.

This answer was first published on 10/03/19. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

What credit score do you need for LightStream?

You need a credit score of 660 or higher to get a personal loan from LightStream. You will also need to meet other requirements like being at least 18 years old, being a U.S. citizen or a permanent resident, having a Social Security number, and having enough income to afford monthly payments.

LightStream’s requirement is relatively easy for most people to meet, as the average credit score is above 660. LightStream offers loans with APRs as...

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How good is a LightStream home improvement loan?

LightStream home improvement loans are some of the best on the market, with loan amounts up to $100,000 and APRs of 4.99% to 13.79%. That’s extremely cheap, considering most lenders don’t have APRs below 6% and many have maximum APRs of 25%+. In order to qualify for a LightStream home improvement loan and take advantage of these low rates, you will need a credit score of at least 660, according to multiple sources.

LightStream...

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