I didn't find much on MyFico about Lightstream before applying, so will update with my experience to help others.
I applied for a motorcycle loan with lightstream as DCU (my primary CU and holder of car note) came back with a surpisingly high APR for my credit and history with them. Maybe because it's a motorcycle loan? Not sure. Anyway... I had heard a few things about Lightstream, such as they don't take questionable credit at all, and if you are extended an offer, it's always at a relativiely decent rate, so I gave them a shot. I submitted the app around 8PM on a Wednesday, within seconds received email confirmation they'd get back to me within 12 hours. Next morning about 7AM I received a credit montoring alert on EQ. Maybe 10 minutes later there was a phone call asking me to explain some old student loan badneess (only negs on my CR), then about 5 mins later recieved an email asking me to upload proof of income and copy of driver license. About 6 hours later, so just after lunch that same Thursday, I received an email congratulating me on the approval, and a link to log in, review terms, and sign/accept if I agreed to terms. Even though the rate was still high (in my opinion) they beat DCU by over 2%, so I signed the paperwok electronically, submitted my bank info, chose ACH funding at the next possible date (next day, Friday). That was it. Cash in account next morning, and a new motorcycle in my garage Saturday! A 2018 Triumph Sreet Triple R, for those who may be interested ;-)
So in under 48 hours, I went from application to cash in the bank. Very easy, no BS.
12K for 36 months @6.74% with an autopay discount of .50%. Motorcycle rates always seem higher than regular auto loan rates.
Cash in bank makes vehicle shoppping so much better! Having the confidence of walking into a dealer, knowing you already have the funds, with the ability to make a confident cash offer is the only way I will ever shop for a vehicle again!
I'll update this post if I run into any issues, as well as in a few months with a general experince update.
