Blue Sky Auto Finance Reviews - What Is It?
WARNING: DO NOT BUY Blue Sky Auto Finance Until You Read This Review!
Is it a Scam? Does It Really Work?
Blue Sky Auto Finance is an automatic loan broker, which matches borrowers with the best lenders instead of doing the lending part of an auto loan. If you have used Expedia to find the suitable airfare for a vacation, you probably understand the process. With this loan broker, you will be able to shop quickly with no need to go to many different online websites to compare rates and prices. There are a lot of auto loan brokers online at present and most of them have made their way into the market by trying to appeal to definite credit profiles, such as poor credit, great credit, or no credit. Blue Sky advertises that they work with no to low credit borrowers; however, they don't restrict themselves to some certain credit profile. As a result, it provides borrowers with the necessary services, no matter how credit bureaus label them. If you don't feel like applying to many lenders to find the best rate or you don't know what your credit profile is, Blue Sky Auto Finance will be a useful site for you. Let us take a look at the details.
Customer Reviews - Does Blue Sky Auto Finance Really Work?
There are certain car loan application requirements, but the documents you will need to submit may depend on your credit situation. If you have no or low credit, you may need to alternate credit information. These can be phone, utility, internet, and rent payments. If you have low or poor credit, alternative credit data can affect your credit score. You will need to provide the following information: proof of income (bank statements or pay stubs) and proof of insurance (you can buy insurance at the dealership when you are ready to buy the car). Having insurance before applying may improve your chances of getting the loan amount you need. You will also need to provide proof of identity. It can be a photo ID with your signature. You may need to provide original copies of your bank statements and utility bills. They will confirm the address you have on your photo ID. You can use Medicare cards, passports, stock certificates, or titles to other cars or your home. Provide proof of residence (utility bills), trade-in paperwork (the title and registration papers). Presenting the appropriate paperwork will facilitate the entire loan process a lot. Based on the lender that approves you for a loan as well as your credit score, you may need to make a down payment. Thus, low to no credit borrowers will need to secure the loan. The norm is 10% of the car.
There are different types of Auto Loans since BlueSky works with many lenders who specialize in various auto loans. The loan you can get depends on your credit situation and which lender you wish to work with. To simplify the process, lenders sort borrowers into a few tiers. The higher the tier, the higher interest rate you will have to pay and the down payment. The scoring model ranges from 250 to 900, which differs from the traditional FICO model. Here are the tiers grouped by credit score: Tier 0: 740 to 877, Tier 1: 700 to 739, Tier 2: 660 to 699, Tier 3: 581 to 659, Tier 4: 520 to 580, Tier 5: 250 to 520.
Blue Sky Auto Finance works with lenders who have good rates. You will pay more to take out a loan but you will enjoy vital benefits.
One customer says that he has gotten a loan from Blue Sky Auto Finance and a nice car because. He feels happy with the offered service and the team of people working for the company. Another client has had also amazing experience with the company. At first he even thought that they would be just like other bad credit auto loan companies. Well, he is glad he tried it. The man was referred to a great dealership that took the time to study his situation, got the car for him and the desired car loan. It was a great deal. The man feels really grateful. Another guy reports that the company had an offer of car financing for him even though he had very bad credit. Within only two hours they signed the auto loan papers and the guy drove away. He says that he has never had such a pleasant experience buying a car. Another client thanks BlueSky for their service. Two days before he went to the participating Blue Sky Auto Finance dealership in New York and he already can boast a new car and a loan. The staff were great in doing their job. It is high time to take a look at the actual customers' testimonials found online.
"I just wanted to say thank you, Blue Sky Auto Finance! I was approved for a no credit auto loan and I received my new vehicle with no hassle. I was pleased with the amazing dealership. I would certainly recommend this company to everyone I know! They are worth addressing."
"Blue Sky Auto Finance sent me to the right people for me to get my new car. I was satisfied with my experience with the participating dealership. Every worker there was professional and kind. I am specially thankful to the finance and sales department. My life has become much better with this loan broker. Now I have a car of my dream!"
"Blue Sky Auto Finance is a nice company that provided my family with a nice car in less than three hours. My wife and I are really gratefulto BlueSky. Other companies could not help us, but this one did the job in minutes. We are happy with our car. We are your life-long clients."
My Final Summary
Summing everything up, BlueSky appears to be a hassle-free loan broker that will kindly work with you and saves your time and money. The company is associated with a great number of customer reviews, most of which carry a positive character. The clients are grateful to the company for help. If you work with Blue Sky Auto Finance, it will be a right decision because, first of all, you can rest easy at night. You will be provided not only with the nice lender, but you will also be paired with nearby dealerships. This will allow you to walk straight into the dealership and save your time. Taking into account all advantages and disadvantages of Blue Sky Auto Finance we do recommend this loan broker.
Blue Sky Auto Finance Pricing and Rates
To apply to Blue Sky Auto Finance you will not have to pay any fees at all. There may be some finance terms and costs linked to your personal credit profile depending on the lender you choose. The interest rate on your car loan will depend on the type of your new car and the information in your credit report. Once you have submitted your loan application it will be approved, and you will be contacted by a credit processor who will provide you with details on monthly payments, interest rates, and loan terms.