Lightstream for used car??

[tpdtopcop]

Want to get 9500 for used car. Couple questions. How does lightstream reports to CRA's. If I have 36000 open credit and 1300 of that is being utilized how much will my scores take a hit when lightstream reports?

[Remedios]

It reports as a personal loan.
Impact of new, fully utilized loan varies from profile to profile, but has nothing to do with limits or utilization on your cards.

Why do you want a personal loan to finance a car?
Light stream has good rates for PL, but requires good scores and good income.
If you have both, why not go through auto financing that might be one third of PL rate

[tpdtopcop]

When looking at lightstream it asks what using money for and I ticked the used auto from dealer box. Rates seemed reasonable for used auto.

[CreditCuriosity]

Guess OP is asking question as they do offer very good loan rates on cars say 3.x if i am not mistaken and they pull EQ where if signature is correct OP's EQ score is in the 770-780 range where-as other two scores are being supressed by something and if lightstream was to approve them for a used auto rate it would probably beat most dealers/3rd party lender rates possibly?  Lightstream is fairly popular for car for some people for whatever reason.  Just speculating this is why OP was asking question.

[Remedios]

I had no idea.
Personal loan would report as such, regardless of purpose, OP.
What you elcect as choice on why you're needing funds will not impact the type, but does impact rates.
You could pick medical, debt consolidation, anything, and it will still report as personal loan.
You might lose points when it reports, but those are gained back as you pay down the loan.
Good luck and I hope you're satisfied with your purchase.