Hello I was recommended for lightstream for a new car auto loan. Anyone have experience with lightstream ?
Based strictly on the information provided by Lightstream I can see all loans are unsecured. Also, their rates start much higher than what may be offered by Credit Unions and conventional lenders (direct and indirect). Best rates appear to start 6.99% for 60 month terms (new vehicle purchase)a and the qualifier is 660 scredit score (not sure what bureau used or version). I'm not sure how they would know what you are using the money for if there is no collateral tied to the loan.
I think this option might work best for anyone needing a loan for a vehicle that may not otherwise qualify for ideal terms, for example higher mileage or older / classic vehicles.