Documentation needed for Lightstream

[ninja_t3sla]

For those who financed through Lightstream do they require documents/stips like paystubs or tax returns? Just want to prepare for what's to come.

Has anyone financed through LA Financial? Would like to know the same answer to above.

Thank you!

 

[gpxl]

I’ve financed through Lightstream multiple times and they are by far the easiest and fastest loan processor around. I recall only needing a recent pay stub to obtain an unsecured loan with 0 down payment. They used to have the best rates but that’s no longer the case unless you jump through hoops for their rate beat program.

 

[Mxbzz]

It’s going to depend on your credit history. They asked for a recent pay stub, as well as past W2s and proof of investments I had listed. They’re very responsive and although I didn’t wind up using them, the process was very easy.

 

[bandwagon]

I’ve gone throught LightStream a few times now. The documentation really depends on your credit score, history and assets - first time, I had to provide W2 and brokerage statements, but didnt have to provide anything for the Tesla. Good luck, they make it easy, especially since there is no lien.

 

[ninja_t3sla]

Do you think I’ll need to provide income/asset docs for 720+ middle score? Another thread mentioned they use Equifax, but all my scores are between 720-750.

 

[bandwagon]

It’s hard to say what they’ll ask for - depends on their underwriting.

 

[rtk86]

I’ve financed through Lightstream multiple times and they are by far the easiest and fastest loan processor around. I recall only needing a recent pay stub to obtain an unsecured loan with 0 down payment. They used to have the best rates but that’s no longer the case unless you jump through hoops for their rate beat program.

I wouldn’t say the “hoops” are too difficult. All you have to do is get an approval letter stating the terms, adjust the lightstream terms to match and email the letter requesting the match. I got a response in less than 15 min.

Also, they only asked for a pay stub. Was unsecured so they didn’t even ask what car is being purchased, just the term and $ amount requested.

 

[pobudz]

Depends on your credit. I was able to get an unsecured loan for $55k. No lien will be placed on the title, and no paperwork was requested.

I've only been asked for additional paperwork if I was requesting a second loan, in addition to an already active insecure loan.

This will have been my 4th car financed by Lightstream. Their rate is a little higher than some local credit unions, but I prefer how easy their service is to use. Great customer service too.

 

[ninja_t3sla]

Would anyone mind digging thru their emails for LightStream’s customer service email? I emailed them a rate match request at [email protected]

Just wondering if that’s the right email to reach them for the rate beat program.

 

[ninja_t3sla]

I need to email them for their Rate Beat Program. Bumping this post to see if anyone can recall/provide customer service email address for LightStream.

 

[rtk86]

I need to email them for their Rate Beat Program. Bumping this post to see if anyone can recall/provide customer service email address for LightStream.

That email is correct. I think their hours end earlier on weekends so there may be a slightly delayed response. You need to give an approval letter showing the terms and Be sure they match the lightstream terms.

 

[rtk86]

Rather you can just respond to the approval email and it goes to the customer service address.

 

[tentimesodds]

LightStream was the easiest loan process I’ve ever been through. I signed up for a local credit union (Truliant FCU, I live in Virginia) because they advertise a 2.74% 66 month rate. Was approved, but that rate is really a 3.24% with 25bp reductions for autopay and for keeping it to 90% LTV.

Applied for the same amount and 66 months with lightstream, entirely on my phone, and was approved for an unsecured loan within a few hours at 4.34%. I emailed them the approval letter from Truliant, expecting the two reductions to be an issue. Two hours later my terms were changed to a 2.64% APR, and that’s an unsecured loan. Picked my funding date and payment date and that was that. Can’t recommend it enough.

 

[dailo]

I applied with them recently and they asked for a pay stub. I haven't submitted it yet, because I am still waiting for approval letters from another credit union. After you have been approved by lightstream, how long do you have to do the rate match?

 

[tentimesodds]

I applied with them recently and they asked for a pay stub. I haven't submitted it yet, because I am still waiting for approval letters from another credit union. After you have been approved by lightstream, how long do you have to do the rate match?

Yeah, I should have said they asked me for a pay stub right away (before the first approval). I had the CU approval in hand before applying to LightStream but their initial approval was good for 30 days so my guess is you can get another approval and submit to them for rate beat during that time.

 

[favo]

Did anyone get an approval from Everence (2.99% for up to 60 months - 0.5% for EV = 2.49%) and get LightStream to beat the rate? Do they need an actual approval to beat the rate or is a link to the rate page good enough? If the former, did you have to join Everence before getting an approval from them?

 

[Ejl80]

You need an actual approval. You can rate beat up until you get funded.

 

[Canikony]

What's the longest term Lightstream will match?

 

[favo]

Applied and was approved for unsecured loan ($55K, 60 months @ 3.69%) in less than 30 minutes. Waiting for Everence approval, so I can do the rate beat (2.49% - 0.10% = 2.39%). We'll see how that goes. If I get impatient, I will apply to Xceed, which is offering 2.75%.

And to answer OP, I didn't have to provide any documents (pay stubs, bank statements, etc.).

 

[duy.duck]

how long does it take for you to get the money after approval? trying to time when I should schedule delivery.