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LightStream auto loans: 2025 review

Written by
Rebecca Betterton
Edited by
Kellye Guinan
Updated on June 17, 2025

At a glance

2025 Bankrate Awards Winner badge

LightStream: Bankrate 2025 Award Winner For Best Online Lender

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4.0
Rating: 4 stars out of 5
Bankrate Score
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Availability
Rating: 4.8 stars out of 5
4.8
Affordability
Rating: 4.3 stars out of 5
4.3
Customer Experience
Rating: 4.3 stars out of 5
4.3
Transparency
Rating: 3 stars out of 5
3.0

About Bankrate Score

Full methodology

Bankrate’s take

LightStream offers unsecured auto loans of up to $100,000, which can be useful if you don't want to put the car up as collateral. With same-day turnaround, it can also be good for a quick private party sale.

Lender Details

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Loan amount

$5,000-$100,000

Rates Icon

APR from

6.49%-15.54% with AutoPay

Credit Good Icon

Min Credit Score

660

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Funds available in

As soon as the day you apply

LightStream auto loans are best for fast funding

LightStream is Bankrate’s top pick for online lenders in 2025 — largely because of its same-day funding option, easy application and large loans. Unlike most lenders, LightStream's auto loans are unsecured. The car you buy won't be collateral for the loan, and your funds are sent to you rather than the seller. 

Types of car loans that LightStream offers

Because LightStream offers unsecured auto loans, it is able to fund more products than many other lenders. You are able to purchase a new or used car, refinance your current loan or buy out your lease with a LightStream auto loan. The exact interest rate you qualify for will depend on the type of loan you choose in addition to your credit score and financial profile.

New auto loans Used auto loans Private party auto loans Auto loan refinancing Lease buyouts
APR 6.49%-15.29% 6.49%-15.29% 6.74%-15.54% 6.74%-15.54% 6.74%-15.54%
Loan amounts $5,000-$100,000 $5,000-$100,000 $5,000-$100,000 $5,000-$100,000 $5,000-$100,000
Loan terms 24-84 months 24-84 months 24-84 months 24-84 months 24-84 months

New, used and private party auto loans

LightStream’s auto purchase loans are unsecured, and its starting rates are slightly below the national average. You can use LightStream to finance a new car, but it also offers funding for both dealership purchases and private party loans. You may be able to score a lower rate with a bank or credit union, but LightStream may still be a better option than dealership financing. 

Auto loan refinancing

LightStream’s auto loan refinancing rates are lower than many banks — which makes it good if you are near the end of your current loan. But if you financed your car when rates were lower, you may want to hold off on refinancing unless you need a longer payment term. In that case, LightStream’s 84-month term could be useful, but it will end up costing you more in interest.

Lease buyouts

If you are currently leasing a car but want to buy it, LightStream also offers lease buyouts. This allows you to finance your leased car with a competitive starting rate. And since LightStream's loans are unsecured, your car won't be collateral for the loan.

Where LightStream stands out

  • Good user experience: LightStream operates entirely online, and its website is simple and easy to navigate. The application is quick and can be completed using a phone, tablet or computer.
  • Fast funding timeline: You can receive funding as soon as the day that you apply for a loan with LightStream, and the funds are deposited directly into your bank account.
  • Loan terms up to 84 months: You can apply for repayment terms from 24 months to 84 months, which gives you more flexibility in finding an affordable monthly payment.

Where LightStream falls short

  • High minimum loan amount: LightStream only offers loans of $5,000 or more. If you want to finance an older used vehicle, you’ll likely need to look elsewhere for funding. 
  • Standard acceptance criteria: Some auto lenders are moving away from solely relying on your credit score for lending decisions. But LightStream requires a good or better credit score.
  • No prequalification: When you submit your application with LightStream, you’ll go through a hard credit check. Unlike with other lenders, there’s no way to check your rate and eligibility beforehand.

Customer resources 

Customer support

LightStream offers customer assistance via an online form but does not have a phone number for general queries. Business hours are Monday through Friday 9:30 a.m. to 7 p.m. ET and Saturday 12 p.m. to 4 p.m. ET. Information regarding your application or loan can be found 24/7 on LightStream’s website or app.

Digital experience 

LightStream does not have a mobile app, but the website contains information that can help you determine if the lender is a strong fit. It allows you to view rates directly and has an in-depth FAQ that can answer any loan-related questions. The lender also mentions that it provides “paperless loans” which are perfect for those who prefer the ease of online account management.

How this lender compares

Before moving forward with financing from LightStream, it is best to compare other auto loan rates to ensure you are getting the best rate and experience for your needs.

LightStream vs. Credit Direct

Credit Direct is a loan marketplace that connects borrowers with unsecured loans. Its loans range from $1,000 to $40,000, meaning this lender may be a better choice for borrowers hoping to finance an inexpensive vehicle. However, it serves only 15 states and doesn't offer refinance and lease buyout loans. Of the two, LightStream is likely to be the more accessible option for many buyers.

LightStream vs. PNC Bank

PNC Bank has a large network of branches. People who don’t like LightStream’s fully online approach may prefer PNC’s in-person interactions. It also offers the unique Total Auto program, which helps with searching for vehicles in your area and comparing prices. However, LightStream offers lower minimum loan amounts and may have lower rates for borrowers with less-than-perfect credit.

Do you qualify for a LightStream auto loan?

LightStream only lends to borrowers with good to excellent credit. The FICO scoring model, popular among lenders, defines a good score as 670 or higher. (LightStream may have a proprietary definition.) You should also have:

  • Several years of credit history.
  • A variety of account types.
  • Good payment history.
  • A proven ability to save.
  • Stable income.

How to get a LightStream auto loan

You can apply for a loan with LightStream on its website. You may need to provide identifying documents after completing your application. If you apply within business hours, you could receive a response, sign your loan documents electronically and receive funding within the same day.

How Bankrate rates this lender

Overall score 4.0
Availability 4.8 LightStream offers a wide range of loan amounts and repayment terms.
Affordability 4.3 LightStream’s rates start high, and it does not disclose its eligibility requirements.
Customer experience 4.3 LightStream stands out for its fast funding timeline, but it does not have customer support via phone, and its support hours are limited.
Transparency 3.0 Fees are listed on its website, but LightStream does not offer prequalification.

Methodology

Bankrate's trusted auto loans industry expertise

Read our full methodology

48

years in business

26

lenders reviewed

20

loan features weighed

520

data points collected

The Bankrate team uses a 20-point system to evaluate auto loan lenders across four main categories.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

What customers think

What people across the web are saying about LightStream

The lender has under 100 reviews on Trustpilot, but the ratings are overwhelmingly low.

One reviewer warned of their experience borrowing with LightStream:

“Incredibly disturbing business model. They are definitely seeking individuals with poor credit scores. They are hoping to 'trick' people who are fiscally irresponsible into a bad contract and a bad loan. Do not work with this company. If an auto dealer is trying to get you to work with this company, they are trying to take advantage of you. Walk away from the car with the price that is too good to be true. It is.”

— Trustpilot user

Another, on the other hand, had a positive funding experience with LightStream and appreciated the fast funding:

“I had a good experience with lightStream. The process was simple and easy and in 2-3 days I got approved. The money was in my account and I was able to buy my car. I had no issues with the process and the rate calculator gives you a good idea about what you are getting into. Better than get finance with a dealer.”

— Trustpilot user

Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions. 

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