What kinds of loans does LightStream let you refinance? This question is about LightStream

What kinds of loans does LightStream let you refinance?

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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 lets you refinance car loans, boat loans, timeshares, credit card debt and more. Each of these categories has its own APR range, and the APRs run from 3.99% to 17.29% overall. LightStream also offers general “debt consolidation” loans for refinancing debts that don’t fit into any of those categories. But keep in mind that refinancing any type of debt is only worth it for people who qualify for a lower APR than the one on their existing debt.

LightStream’s absolute lowest APRs are 3.99% to 5.95%, depending on the type of loan being refinanced. But to get the minimum APR, you will likely need excellent credit. People with credit scores of 660 or higher can reportedly get a LightStream loan. But people with a score of 660 will likely receive an APR close to LightStream’s maximum, which ranges from 8.84% to 17.29% depending on the loan.

LightStream Refinance Loan APRs:

Auto loan refinancing: 3.99% to 8.84%
Boat/RV/aircraft loan refinancing: 4.29% to 11.34%
Motorcycle loan refinancing: 4.29% to 11.34%
Timeshare loan refinancing: 5.95% to 17.29%
PreK-12 education loan refinancing: 5.95% to 17.29%
Debt consolidation loan refinancing: 5.95% to 17.29%

LightStream refinance loans, like all LightStream loans, don’t charge origination fees or late fees. So you don’t have to worry about costly fees eating into the savings you get from a lower APR.

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What credit score do you need for LightStream?

You need a minimum credit score of at least 660 to get a personal loan from LightStream. That means the LightStream personal loan credit score requirement is in the fair-to-good credit range, which is on par with most other major personal loan companies.

LightStream’s requirement is relatively easy for most people to meet. The average credit score is above 660. However, a credit score of 660 will not guarantee that you can get a personal loan...

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How good are LightStream auto refinance loans?

LightStream auto refinance loans are inexpensive, and they offer the potential for a lot of funding very quickly. In fact, auto refinance loans are some of the cheapest loans that LightStream offers, with APRs as low as 3.99%. Borrowers take out the loan from LightStream and then use it to pay off their existing car loan. This effectively “refinances” the car loan and can allow the borrower to pay off the balance at a lower...

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