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So it turns out Lightstream never got the PDF file I sent them with my pre-approval from Everence.

I called them again, while at the same time re-sending the email.

The gentlemen on the phone I spoke to was quite polite and said "let me send this over to underwriting and see what we can do, you should hear something back in the next few hours via email or tomorrow morning at the latest".

The response I got over email just a few minutes later (from a different rep I assume in response to my emailed PDF) was quite different... it indicated my pre-approval was not acceptable and I needed to read their rate-beat FAQ page and not try to send them something that doesn't meet the strict requirements.

It definitely feels like they have a new policy and are getting very strict with rate matches.

It might not be worth working this hard for an unsecured loan. I will wait till I get a VIN for my car hopefully in the next few weeks and then if I can't get LS to match/beat either Everence or Allegacy then I'll just go with one of them for my loan.
 
//addendum.

So what pops in my email just 5 minutes after getting an email chastising me for sending them an unqualified rate-beat request? An email indicating I should sign in for my new loan terms.

There's my 60 month 2.39 unsecured loan.

So I have to walk back my earlier comments. If you are doing rate-beat you are going to want to call LS. The phone reps seem to be a little less stringent with the requirements then using email.

At this point if I really wanted to play with fire I could try to squeeze a tiny bit more cost out of this loan by seeing what rate Allegacy will do and if it's a tiny bit better than the current terms but I think I might want to quit while I'm ahead.

I have till Sep 19 to complete the loan application and then I believe another 30 days from there to fund it... so I should be all set now for financing.

This is my relieved face.

76439799hfahe.jpg
 
//addendum.

So what pops in my email just 5 minutes after getting an email chastising me for sending them an unqualified rate-beat request? An email indicating I should sign in for my new loan terms.

There's my 60 month 2.39 unsecured loan.

So I have to walk back my earlier comments. If you are doing rate-beat you are going to want to call LS. The phone reps seem to be a little less stringent with the requirements then using email.

At this point if I really wanted to play with fire I could try to squeeze a tiny bit more cost out of this loan by seeing what rate Allegacy will do and if it's a tiny bit better than the current terms but I think I might want to quit while I'm ahead.

I have till Sep 19 to complete the loan application and then I believe another 30 days from there to fund it... so I should be all set now for financing.

This is my relieved face.

76439799hfahe.jpg
That was my experience as well. Throughout the process their customer service people seem to be super nice and helpful. Better than a couple of the local credit unions I've spoken with tbh.
 
//addendum.

So what pops in my email just 5 minutes after getting an email chastising me for sending them an unqualified rate-beat request? An email indicating I should sign in for my new loan terms.

There's my 60 month 2.39 unsecured loan.

So I have to walk back my earlier comments. If you are doing rate-beat you are going to want to call LS. The phone reps seem to be a little less stringent with the requirements then using email.

At this point if I really wanted to play with fire I could try to squeeze a tiny bit more cost out of this loan by seeing what rate Allegacy will do and if it's a tiny bit better than the current terms but I think I might want to quit while I'm ahead.

I have till Sep 19 to complete the loan application and then I believe another 30 days from there to fund it... so I should be all set now for financing.

This is my relieved face.

76439799hfahe.jpg
My experience with Allegacy is that they no longer send out any documentation until you have your final approval. I was basically told in an email that I was pre-approved for their best rates, but they can't tell me what those rates are and won't send me any documentation.
 
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My experience with Allegacy is that they no longer send out any documentation until you have your final approval. I was basically told in an email that I was pre-approved for their best rates, but they can't tell me what those rates are and won't send me any documentation.

Yup. I pretty much had the same experience with them today. The only difference is they did say what the rate is, but won't put it on anything official until final approval.
 
My experience with Allegacy is that they no longer send out any documentation until you have your final approval. I was basically told in an email that I was pre-approved for their best rates, but they can't tell me what those rates are and won't send me any documentation.

I had the same experience with Allegacy and after trying everything to get them to give me something concrete I just threw in the towel and switched to third-party financing instead of cash. My delivery agent had to redo the MVPA and it delayed me 7-10 days but that is fine with me as I am not back in town till September anyway.

I really wanted to use LightStream and tried everything to explain the situation in emails and they rejected everything I sent to them if it had the word "pre-" anywhere on it.
 
My experience with Allegacy is that they no longer send out any documentation until you have your final approval. I was basically told in an email that I was pre-approved for their best rates, but they can't tell me what those rates are and won't send me any documentation.

This loan calculator is handy for me or anyone else comparing rates and terms, especially when you want to do it by month.

Calculators

In a comparison of a 60 month 2.39% loan with a 66 month 2.19% hypothetical rate-beat loan for Allegacy the difference is literally just $19. Not worth my effort at this point but might be worth it for someone who is really focused on a smaller payment.
 
This loan calculator is handy for me or anyone else comparing rates and terms, especially when you want to do it by month.

Calculators

In a comparison of a 60 month 2.39% loan with a 66 month 2.19% hypothetical rate-beat loan for Allegacy the difference is literally just $19. Not worth my effort at this point but might be worth it for someone who is really focused on a smaller payment.
I'd be ok with either one, I'm just hoping to lock in before the rates go up again. Just to verify - do you have a VIN yet? Or will Everence send you at least a pre-approval form?
 
This loan calculator is handy for me or anyone else comparing rates and terms, especially when you want to do it by month.

Calculators

In a comparison of a 60 month 2.39% loan with a 66 month 2.19% hypothetical rate-beat loan for Allegacy the difference is literally just $19. Not worth my effort at this point but might be worth it for someone who is really focused on a smaller payment.
Allegacy says rate is good for 60 days. Will not have to worry about what the Fed does in September. Gap Plus insurance is $389.00, pays off the car if insurance doesn’t and gives you $1000.00 towards the purchase of your next car. Only catch is the next car has to be financed with them to get the 1k.
 
It must just be me, but LS unsecured loan is really great but also really bad should something happen and you fail to pay off the loan. Downside offsets up in my opinion. Y’all do know and understand what you’re agreeing to right?

I’m just starting to look into all this and I’m curious what downsides you see with LS? It’s basically a personal loan at the end of the day from what I can tell.