![]() The car loan you’ll be eligible for all depends on which lender you decide to work with and your financial situation. Types of Blue Sky Auto Loans Availableīlue Sky Auto Finance works with various lenders who specialize in bad credit car loans. The norm is 10% of the car or $1,000, whichever is the higher amount. Good credit borrowers may not need to put anything down, but no credit, and bad credit borrowers will most likely need to secure the loan. If you need a car fast and intend to trade in your car, presenting the appropriate paperwork from the very beginning will speed up the entire loan process dramatically.ĭepending on your credit score and which lender approves you for an auto loan, you may have to make a down payment. Trade-in paperwork: If you’re trading in your old car, you’ll have to be able to present the title and registration papers.For this, you can also use utility bills. Proof of residence: Should you stop making payments on your new car, lenders need to know where they can find the car.You can also use stock certificates, passports, Medicare cards, or titles to other cars or your home. These confirm the address you have on your photo ID. You may also need to provide original copies of your utility bills and bank statements. Proof of identity: A photo ID with your signature on it should suffice.However, having insurance prior to applying may better your chances of receiving the loan amount you need. Proof of insurance: If you don’t have car insurance already, you can purchase insurance at the dealership when you are actually ready to purchase the car.Proof of income: Pay stubs or bank statements can provide this.If you suffer from poor credit, there are ways to have alternative data actually affect your credit.įor the most part, you’ll need to provide the following information regardless of which auto loan company you choose. ![]() For example, if you have no or bad credit, your lender may request alternate credit information.Įxamples of alternative information include phone, internet, utility, and rent payments. The documents you’ll need to submit for the car loan application vary with whichever lender you choose and what your particular situation may be. BlueSky Auto Finance Application Requirements If you have poor credit or don’t want to apply for an auto loan with multiple lenders to find the best rate, then BlueSky Auto Finance may be right for you. The result is that BlueSky provides borrowers with the services they need, regardless of how credit bureaus label them. Though BlueSky does advertise that they offer no credit and bad credit auto loans, they don’t restrict themselves to one particular type of borrower. BlueSky Auto Finance allows you to easily shop for new or used auto loans online and compare prices and rates. If you’ve ever used Expedia to find the best airfare for a vacation, then you get the process. Other lenders have lower minimums - usually $5,000 to $7,500.Want to make sure you get the best auto loan?Ĭompare BlueSky Auto Finance with Other Lenders Overview of BlueSky Auto Finance You will need to finance at least $9,000 to qualify. Although you can have a co-owner and still receive refinancing, Upstart doesn’t allow for a co-borrower on its application. Upstart does not offer loans in Iowa, Maryland, Nevada or West Virginia. The usual cutoff is 100,000 miles, so Upstart is a good choice for cars that have made a few road trips. Unlike many lenders, Upstart allows you to refinance vehicles with high mileage. You won’t need to visit a physical location to complete the loan process. Upstart has a seamless online application along with an app. And if you don’t have a credit history, it will still consider you. Upstart measures more than just your credit score, factoring in your work experience and education alongside your credit history. We do not include the universe of companies or financial offers that may be available to you. ![]() But this compensation does not influence the information we publish, or the reviews that you see on this site. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. The offers that appear on this site are from companies that compensate us. ![]() Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.īankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. ![]() We are an independent, advertising-supported comparison service. ![]()
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