- Fixed rate, simple interest, fully amortizing loan with no fees or prepayment penalties.
- Rates quoted with AutoPay option. Invoicing option is 0.50% points higher.
- Loan proceeds may not be used to refinance an existing LightStream loan.
- Florida loans subject to Documentary Stamp Tax (opens in a modal}. The tax amount is not included in the quoted APR.
When you apply for an unsecured auto loan, your credit score is considered along with other factors, including debt-to-income ratio, income, and any down payment you plan to make.
Longer terms mean lower monthly payments, but more interest paid over time. Shorter terms have higher payments but reduce total interest cost.
Over the life of a loan, having a lower rate can save you money, so it can be important to shop around for the lowest interest rate.
The LightStream unsecured loan doesn't have origination fees, late fees, or pre-payment fees. It's simple. We don't have fees ... for anything.
There are several steps you can take that may help you find the best loan terms for your situation.
Paying down existing debt, maintaining low credit utilization, and ensuring on-time payments can boost your credit score, meaning you potentially could qualify for lower interest rates.
Although monthly payments will be higher, shorter loan terms may carry lower interest rates, reducing the overall interest you pay.
Although your monthly car payments will be lower, you may pay much more in interest on a longer-term auto loan. It’s important to look at the total loan costs as well as your monthly auto loan payment amount.
Your FICO® credit score is one of the most common ratings used to determine your creditworthiness. Let’s break down how it’s calculated.
If you’re smart with how you use credit, it can help put big goals within reach. Follow these tips to borrow money with confidence.