About Second Chance Car Loans
As our economy has continued to recover from the recession of 2008, second chance car loans have become more popular than ever. Job loss is one of the major contributors to bad credit and as people get back to work, sub-prime car loans will increase in demand and so will the number of lenders offering them.
There are other factors that play a role in causing bad credit such as excessive medical bills and divorce. In fact, auto finance companies specializing in this market segment are often willing to extend car financing if there was an event in a person’s life that triggered the credit problems – as long as that event is now in the past.
So what’s the best way for people to get a second chance with Bluesky Auto Finance? The following tips well help you better understand how to qualify for an auto loan through us:
Other factors that may help to get you approved include job stability (the longer the better), type of vehicle (late model reliable car with less than 70,000 miles) and down payment (the more the better). See our car buying tips and how to get a car loan for more information.
If you fail to meet any or all of the criteria above, your best shot for a second chance might be with a car dealer that offers in house financing. Keep in mind that this type of financial arrangement may be very expensive so we recommend buying an inexpensive car and try to keep the car financing term less than 24 to 36 months.
Everyone deserves a second chance. Car loans were difficult to come by during the financial crisis however, things have changed and car financing has become easier to find. Apply today and you could be approved and driving your new car tomorrow.