We have all seen or heard the auto newspaper advertisements and radio commercials that claim “we finance anyone” or “credit history doesn’t matter.”  Most of us are left wondering if this can actually be true, or if it is some type of gimmick.  We think to ourselves, ‘how can this be when we are continually told how important credit history is when applying for a loan.”  The truth of the matter is that while credit scores are extremely important factors in determining whether or not you will qualify for a loan, and what your interest rate will be, there are certain car dealerships that will finance anyone.   In fact, these type of dealerships specialize in loans for people with poor or no credit history.

Buy  Here, Pay Here

These dealerships are often referred to as “buy here, pay here” dealers, and they become both your banker and seller.  In essence, they will loan you the money to purchase a vehicle, but you must purchase a car that they have on their lot.  You will also be faced with a very high interest rate, since the dealership is taking a greater risk in approving a loan for someone with a poor credit history.  It is extremely important to keep in mind that because you will be purchasing a vehicle that comes with a high interest rate, you should purchase an inexpensive vehicle.  In doing so, you get the car that you need, begin to re-build your credit, and won’t get in over your head with payments that you can not afford.  You will not be able to purchase your dream car, but you are on your way to repairing your credit history so that you will qualify for a better loan in the future.

Fast and Easy Application Process

Another option available to you is to go through an auto financing company that specializes in auto financing for poor credit, such as BlueSky Auto Finance.  At BlueSky, we have an integrated platform of both lenders and dealers who specifically work with people with poor credit.  The application process is fast and easy.  You apply online and are immediately notified if you have been approved by one of our lenders.  If approved, you can then buy your vehicle wherever you choose.  In the case that you are not directly approved by one of our lenders, we will send your information to a dealer in your area, if available.  If the dealer is able to help you with financing, you will then purchase your vehicle from that dealer.  When applying for financing through BlueSky, you are not obligated to accept any loan offers.

For more information on applying for financing through BlueSky Auto Finance, click here.