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lightstream loans

MattS

MattS

Red Skull Member
Joined
Jul 2, 2020
Member Number
2230
Messages
619
Loc
The 402
Over on that other place there was a thread about loans from lightstream and a bunch of people including me got one. I remember that when you were filling out the app you have to answer 2 questions very specifically. I can't find the thread it seems to be gone. Anyone (sceep maybe) remember what the deal was? Basically it gave you the best rate, and you didn't have to give them the title. It may have been the first question, who are you buying from and you had to answer: dealer. But I can't remember. :confused:
 
I currently have 30k out on one. Go to thier rate claculator and play with that. The question is what you need the loan for. Its totally unsecured and they never ask for any proof or documentation but what you choose greatly affects your rate
 
So what did you pick? Used auto from dealer seems to have the best rate.
 
Private party didn't have me send in the title and best rate I think is the autopay
 
I asked at least 6 members (might have been 10) from the other place if they ever had to prove what they used the funds for. All said No. Neither did when I got mine. Still used it for what I intended to purchase. Am looking at them again to do some big Home renov. projects.
 
A friend at work turned me onto light stream after usaa would only pony up 6K for my purchase. Light stream had me approved in seconds. I can't remember the questions I had to answer. But I remember the email saying "Do not inform anyone that this loan is for the purchase of a vehicle."
 
Insufficient income and/or assets to support current debt obligations
• Debt owed on existing accounts
• Length of time accounts have been open
 
this is gay. my credit is excellent and so is my payment history. 10% credit card utilization.
 
I just got my 3rd loan from them a few weeks ago. Used car, unsecured loan for $15k at 2.49%. They are so easy and fast funding.
 
I use them basically any time I'm spending over 5k. Its basically free money. Currently have my boat loan through them which was 14k. I always answer there questions honestly and have never had an issue. I also have a very healthy cash position which probably helps.
 
Holy shit I have never heard of this. Probably fill one out today
 
Dethmachinefab said:
I was denied a little while back as well. I've got excellent credit but maybe not enough debt in my history. I'll try again with different answers and see if it changes.
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Ive maxed out 20-30k cards and paid them off. They are just racist.
 
Blacksheep10 said:
Holy shit I have never heard of this. Probably fill one out today
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Nothing like borrowing $22k for 4 years for $1200. :eek: I just didn't want to go thru the hoops of trying to get investment $$$ out or go below my savings account comfort zone. I did the auto pay and it was the best experience with a bank I have ever had.
 
just applied....tring to beat 3.99% for a dualsport....i mean used car from dealer

edit...guess i was approved before posting my reply...sweet
 
OHV Wildcat said:
Damn, sorry to hear that. I got a loan from them last fall, it was shockingly easy. Maybe their standards have been raised?
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I'm not real surprised, self employed and all. Figured I'd give it a shot since my assets were alot different than the last time I tried it.
 
Thefishguy77 said:
Thats the bitch of owning a business that’s your primary income. Its fucking rigged to punish small businesses. :mad3:
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Best bet there is local small time. My wife couldn't get a new car loan at the dealer. Called my credit union and they not only approved the loan, but gave her a stupid low rate.

Business has been around for 5+ years though.
 
Chevy_man said:
Best bet there is local small time. My wife couldn't get a new car loan at the dealer. Called my credit union and they not only approved the loan, but gave her a stupid low rate.

Business has been around for 5+ years though.
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One of the reasons I started using a local small bank last year. Opened a business account, next day I deposited a $20k check, no holds on it. Inquired about a business line of credit, they called back today saying I was approved for $50k at 5.5%. Planning to move most of the $ from my business checking account into an investment account and have that as a cash flow backup if need be.

When you walk in, they also ask you if you’d like a coffee, water, or cookie instead of treating you like a piece of shit. In addition, they have a notary available most of the time and actually answer their phones. Wells Fargo just re-routes you to the 800 number and says “yeah, we aren’t answering our phones right now, but can make you an appointment in 2 weeks” :shaking:
 
Lightstream was a no go for me. Tried doing a 5k loan for 3 months. They'd only let me put 1 year.

The denial says I have a 688 credit score. I pulled it up to see WTF they are talking about. 732 through FICO.
Also said I don't make enough. Not sure what they require... 6 figures?
 
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