LightStream Auto Loans Review (2019)

there’s a lot of different auto lenders
out there but I wanted to make this video specifically on light stream auto
loans because they have some of the best rates and the best terms in the entire
industry for auto loans and personal loans so in this video I’ll cover the
pros and the cons of light stream auto loans because I want to give you guys an
honest review because I’ve actually had a loan with them for over two years now
and I can say that they definitely don’t suck now if you just found this channel
I’m Jason with honest finance and I make a lot of videos on different topics
that’ll give your life and your finances more value so definitely subscribe if
you guys are into that type of content but now let’s start talking about light
stream auto loans I’ll start by disclosing that if you are
interested in checking them out then I’ve got an affiliate link in the
description below which means I may be compensated if you click through it but
just keep in mind that I am never gonna recommend something that I don’t think
gives you guys the most value and on top of that you don’t have to click the link
if you don’t want to light stream is a division of Sun Trust Bank so they’re
definitely not small by any means and what they mainly focus on our personal
loans and auto loans for customers with good credit I mean there’s no harm in
applying with them if you want to see if you can get a loan but you’ve just got
to understand that they only accept applicants with good credit and that’s
part of the reason that they have such competitive rates and really good terms
so as of making this video in June 2019 you can actually get an auto loan for as
low as three point nine nine percent which is about as good as it gets in the
entire auto loan industry but just keep in mind that rates naturally fluctuate
over time so depending on when you’re watching this video rates could actually
be a little bit higher or a little bit lower and that’s all just based on a lot
of different natural factors that we can’t do anything about live stream
doesn’t charge any dirty origination fees or prepayment penalties so when you
get alone with them you don’t pay any fees and if you decide to pay it off
early or make extra payments you don’t have any penalties to worry about there
either they’ll also beat any competitors rate
by a tenth of a point for the same type of loan so if you end up looking at a
different company and they have a better rate then just go back to light stream
and they can actually try to beat it by a tenth of a point I mean a tenth of a
point isn’t the deal of a lifetime but it is nice to know that you can shop
around and you can eventually go back to light stream because they can beat the
rate now the coolest thing in my opinion is that they don’t require down payments
and they don’t care about the make the model or even the year of the car and
that’s pretty awesome this alone makes light streams stand out significantly
because you can buy whatever car you want and you don’t have to worry about
the stupid details like you do with other lenders and that’s a really handy
and this is a little bit complicated but light stream basically offers secured
auto loans and unsecured auto loans and those all affect how you get the title
so I’ll explain how those work right here now the first type of loan that you
can get with them is called an unsecured auto loan and this one’s actually the
hardest one to qualify for but if you do qualify for it what it means is that you
can actually pay cash for the car and you get to keep the title for yourself
which is really handy because you don’t have to mess around with anything like
that so obviously you’ll still have the loan with light stream but as far as
buying the cars concerned it’s as though you’re just giving them cash and then
the other type of loan that you can get is called a secured loan and this one’s
actually a little bit easier to qualify for but what this means is that you’re
just gonna have to submit the title paperwork to light stream and they’re
gonna hold onto the title until the loans paid off and this is totally
normal and that’s how all the other lenders do it but it is cool that they
offer both types depending on your credit situation now as far as the
individual rates go with light stream they are gonna vary slightly based on
the type of car that you’re buying so I need you to pay attention right here
light stream offers just about every type of auto loan out there so if you’re
looking for a new car or a used car or you want to buy it from a dealer or a
private party or even if you’re doing a lease buyout or refinance they offer
every type of auto loan and they’re definitely worth looking into so what I
found is that if you’re buying a new car and it’s priced between $10,000 and just
under $25,000 and then you keep it under three years then that’s going to be the
best rate with light stream as far as all their rates go but all of the other
selections and categories and stuff like that have really good rates as well I’m
just telling you the rates that I found were the best ones and then as far as
borrowing goes with light stream you can borrow between five thousand dollars and
a hundred thousand dollars and then you can pay them back between 24 months and
84 months I don’t advise going over 60 months for any auto loan but if you are
gonna take that route then just know that the rates are actually pretty good
when you go for a higher term with them I just ran the numbers on the race
simulator and if you wanted to get a loan for $100,000 for 84 months then you
could actually get a rate for 5.29 percent and for such a bad loan that’s
actually a really good rate just please don’t actually get a hundred
dollar car loan because I’m just trying to prove the point that you can actually
get really good rates for loans that I don’t think are very good ones to do for
a car so just keep your car loans at two to three years if you can and then the
most I would go to sixty months but I don’t want you going any higher than
that because cars generally depreciate really
fast and I do not want you going upside down in your car loan and then if I’m
making sense here can you please comment down below and just say I get it that
way I know that I’m actually making sense of what I’m talking about
Thanks now if you make your way to their website definitely use the race
simulator because it’s a really good way to get an idea of what you can expect to
pay with them without actually having your credit checked because there’s
nothing worse than applying for a loan and having your credit checked and going
through all of that kind of stuff only to discover that the loan is way out of
your price range in the first place so really quick I’ll show you on my phone
how the great simulator works so you can see for yourself that it is something
that you want to be using just start by selecting the loan type so right here
I’ll just choose new car then select the loan amount and the term so in this case
I’ll just go with $12,000 and then right here I’ll go for 36 months on auto pay
now you’ll have a really good estimate of what you can expect to pay with
LightScribe from here just scroll down a little and you can mess with all their
preset tiers which are super helpful because you can see all the different
loan amounts and the terms just open up the different tiers and you can quickly
see how much you’ll have to pay for the different amounts and terms for the
specific new car category that you already selected obviously everything will fluctuate
based on what you want but it is a great tool to use as a preview of what you can
expect to get with lights dream the r8 simulator is 100% worth using so
definitely try it out if you’re working on mobile or on desktop now as far as
cons go with light stream there are a couple that I’m not super in love with
but they never really stopped me from getting alone with them in the first
place the first thing I don’t like with them is that if you don’t select Auto
pay as your main form of payment and you go invoice instead then you’re gonna
have to pay a half-point higher which in my opinion is a little bit expensive for
me personally I could care less about Auto pay because I’m always going to do
it automatically but I know that there are people out there that like doing
their bills through invoice so in this case just don’t do that because you’re
gonna have to pay half-point more and I don’t want you
doing that and then the other con in my opinion is that if you already have a
loan with light stream and you want to get another one you can’t actually pay
off your old loan with the new light stream alone so hopefully I made sense
there because all I’m saying is that you can’t refinance a loan directly through
light stream with another light stream loan and in that case if you wanted to
refinance you’re gonna have to go with a competitor and then pay off your light
stream loan because that’s the only way you can do it and oh well but honestly
when you add up all the pros and the cons with light stream at the end of the
day the pros are a lot more than the cons and that’s why they are in my
business I’ve had a loan with them for over two years now on autopay and I can
say that everything so far has been very smooth and very easy with them now once
again I’m Jason with honest finance and I make a lot of videos on different
topics that will give your life and your finances more value so definitely
subscribe if you guys are into that type of content but I do have a ton of other
car videos that you guys can watch so I’m gonna link those up up here so that
you can learn some more stuff on cars that’s all for now

36 comments on “LightStream Auto Loans Review (2019)”

  1. jagsfanrick says:

    Wow, 2 videos on the same place. Sounds like you are working for them.

  2. Juan Gomez says:

    I get it, great video

  3. Jimmy Winfrey says:

    I got it. Jason, how did you discover lightstream?

  4. hip2dadip says:

    Lightstream has an excellent spokesperson in you. I love your squeaky, clean persona and straight-forwad approach. I would love to see the outtakes though!😇👍

  5. Honest Finance says:

    Thanks for watching the video!!

  6. Kenny says:

    I get it! Nice video though.

  7. Tarique Chaudhary says:

    Could there be a purpose to go with lightstream at a higher interest rate over the dealer 1.9% financing promotion that the dealership runs if you finance with them

  8. Lord Byron Keith says:

    I get it!

  9. The Debt Relief Company says:

    We get it! Ahaha. Nice video!

  10. Winston Jones says:

    Checked it out! Good job.

  11. CC Onukwube says:

    I get…once again you've enhanced my financial intelligence…thank you 🙂

  12. Pablo Pimentel Villar says:

    My Anti-virus blocked the link looks like fake and insecurity place to navigate… Do you have any extra ideas about how I can navigate through…?


    Dangerous Web Page BlockedYou attempted to access: is a known dangerous web page. It is highly recommended that you do NOT visit this page.

    Continue to the site

  13. sneakerheadpapi says:

    Would they aprove me for a loan if my credit is around 650? Need to pay credit card debt cause i have a 21.3 interest rate 😢

  14. RALF SMASH says:

    I get IT! c:

  15. Oscar Zamora-Bautista says:

    I get it. It makes sense

  16. Crunch Wrap Supremist says:

    I didn't subscribe to your channel poop dick. Stop pay for subscribers slimeball

  17. BrandoAlfaOne says:

    I get it.

  18. Anne R. says:

    I got it. Thank you for information.

  19. BlackStorm says:

    I got it!!! I may have a potentially good question for a video or maybe it's been answered in another and you can refer me to it.

    If you have a lease with a manufacturer, in this case Toyota, and at the end of the lease of the vehicle you are going to turn it in to then purchase a different vehicle from Toyota. Can you still shop around for a better rate for the car you intend to finance or are you stuck with the dealership financing? And would we get any potential penalties for doing so?

  20. sidney berry sr says:

    I get it

  21. Shirley Bauman says:

    I was helped by a professional hacker to pay off my loans and also learned how to make good money weekly. You too can benefit from him. Reach out to him on +1 980 263 9361

  22. eac says:

    I get it…By-the-way, on one of your other videos, you said you got a loan from a bank in Canada? How did you go about finding that loan office? I and some of your subscribers would like to learn the process of finding a loan office not just you giving us just one option.;) Thanks

  23. Brian Lera says:

    I get it 👍🏼

  24. Gabriel Varella says:

    get it. awesome. well done

  25. raul barasa says:

    Sick dude! Made me more confident:)

  26. Riz1TheGreat says:

    I get it, quick question. So when you get approved do they make a deposit into your bank account of the loan amount or do they send a check?

  27. Bjorn Bjornson says:

    I get it!!

  28. Thundar Wabbit says:

    Yep I got it! Thanks sir.

  29. Kayade Ceres says:

    I get it!

    So happy i found your channel ! Really great info keep it up 😀

  30. Lt1 _Hector says:

    I get it! Quick question-how long they’ll tell you if you get approve or not?

  31. cbigclarke says:

    I had it…but then it fell😩

  32. J Awesome says:

    Hi Jason thank you for the video. Do lightstream require paystub and w2? I work off the book and will like to refinance my car. I am pay 15% interest which sucks

  33. MIKEP1851 says:

    I get it!!

  34. Next Level Eddie says:

    Can you pay off the loan early? Without paying all the interest and with no prepayment penalties

  35. mikeverything says:

    With applying for one of these affect my credit

  36. Master Anubis says:

    I get it

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