LightStream auto loans legit?

[Run&Blade]

Thinking about buying a car LightStream is web lender, I can get 1.99% Apr.

Are these guys legit? Seems odd to take out a loan via the web.

 

[The Tradition]

Totally legit. I used them to finance my current ride.

 

[Run&Blade]

Totally legit. I used them to finance my current ride.

Thanks. I assume the social security number and credit report is key. Is the deal closed online and they just deposit the money in your account? Do they somehow acquire the "pink slip".

 

[The Tradition]

Thanks. I assume the social security number and credit report is key. Is the deal closed online and they just deposit the money in your account? Do they somehow acquire the "pink slip".

Yes, the money shows up in your account as promised. I wrote a personal check to the car dealership when I bought my Honda.

They do not take title to your vehicle pending loan payoff.

It's like an unsecured loan, although they reserve the right to require proof you used the funds for the purpose you stated on your loan application. They didn't require that from me. I would imagine they can get that verification through the state vehicle registration agency.

 

[Brian_Fantana]

Yes, the money shows up in your account as promised. I wrote a personal check to the car dealership when I bought my Honda.

They do not take title to your vehicle pending loan payoff.

It's like an unsecured loan, although they reserve the right to require proof you used the funds for the purpose you stated on your loan application. They didn't require that from me. I would imagine they can get that verification through the state vehicle registration agency.

This is accurate. They will deposit the cash right into your account. I believe to get the lowest rait you have to sign up for automatic payments but could be wrong as I didn't end up going through them. Not sure of the credit score you need but I just bought a 2014 Murano and was going to use a lightstream loan and write a check like Trad did but when I told the dealer that they ended up finding a Credit Union to match the 1.99. Only downfall I could see is I don't have title in hand but the dealer gave me a bit of a discount for getting financing through them.

 

[The Tradition]

This is accurate. They will deposit the cash right into your account. I believe to get the lowest rait you have to sign up for automatic payments but could be wrong as I didn't end up going through them. Not sure of the credit score you need but I just bought a 2014 Murano and was going to use a lightstream loan and write a check like Trad did but when I told the dealer that they ended up finding a Credit Union to match the 1.99. Only downfall I could see is I don't have title in hand but the dealer gave me a bit of a discount for getting financing through them.

Yes, you get the lowest rate by taking the auto-pay option.

 

[Run&Blade]

Hard to believe you can run a business giving loans for 1.9%.

Plenty of stocks have dividends much higher than that.

 

[The Tradition]

Hard to believe you can run a business giving loans for 1.9%.

Plenty of stocks have dividends much higher than that.

They only loan to the very highly-qualified. Low risk.