What are LightStream's rates? This question is about LightStream

What are LightStream's rates?

This question is about LightStream

Adam McCann, Financial Writer

@adam_mcan • 10/03/19 This answer was first published on 10/03/19. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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LightStream’s rates range from a minimum of 3.99% to a maximum of 17.29%, depending on the borrower’s creditworthiness and the type of LightStream loan. Unlike most personal loan providers, LightStream has separate APR ranges for different types of loan purposes. For example, LightStream’s rates for debt consolidation loans range from 5.95% to 17.29%. And the range is 4.99% to 13.79% for swimming pool loans.

No matter what type of loan you get, your LightStream rate will be 0.5% cheaper if you set up automatic payments from a bank account, rather than manually making a payment after receiving an invoice each month. In addition, if you have already been approved for a loan from another lender, LightStream promises to beat their rate by 0.1%. But LightStream requires proof that you were approved for a loan with the exact same terms (other than a lower rate) by 2 p.m. EST the business day before your LightStream loan gets funded.

LightStream’s rates for 2023:

Home improvement/solar/pool loans: 4.99% to 13.79%
Debt consolidation loans: 5.95% to 17.29%
New auto purchase loans: 3.99% to 8.84%
Used auto purchase from dealer loans: 3.99% to 8.84%
Used auto purchase from individual loans: 4.99% to 9.69%
Auto lease buyout loans: 4.99% to 9.69%
Auto loan refinance loans: 3.99% to 8.84%
Boat/RV/aircraft purchase or refinance loans: 4.29% to 11.34%
Motorcycle purchase or refinance loans: 4.29% to 11.34%
Timeshare/fractional purchase or refinance loans: 5.95% to 17.29%
PreK-12 education or refinance loans: 5.95% to 17.29%
Medical/adoption expense loans: 5.95% to 17.29%

LightStream’s rates are remarkably inexpensive compared to many other online lenders, which may charge up to a 36% APR on their personal loans.

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