How to Get Used Car Financing

Ready to buy that one of a kind used car but not sure where to get used car financing? Turned down for used car financing from your bank or credit union and not sure what to do next?

In many instances, the sources available for used car financing are dependent on your credit history and credit score. In other words, the process for finding used car financing varies depending on whether you have good or bad credit. If you have good credit, chances are you can apply and get approved for used car financing through your bank or credit union. If approved, you’ll be able to purchase a used car from a dealership or private party of your choice. Essentially, your bank or credit union provides the loan and you go out shopping like a cash buyer. This is the ideal way to obtain used car financing but what if you have credit problems?

Worried About Poor Credit?

If your credit is not very good, or even bad, don’t worry, there are still options. You may be more limited in regards to who may be willing to give you a loan, but all is not lost. There are still lenders that provide bad credit car loans for used cars.

One option for bad credit used car financing is to find a local car dealer that specializes in car loans for people with bad credit. Not every dealer works within this niche, but BlueSky can help you through our network of participating dealerships that specialize in bad credit auto financing. One way to narrow your search would be to eliminate luxury brands from you list of potential dealers such as Lexus, Mercedes, BMW and the like as these types of car dealers usually don’t offer used car financing for bad credit situations. Dealers that offer used car financing for people with credit problems often advertise in the newspaper so be sure to check your local week-end paper. You can also go online and search for local dealers. Those that offer used car financing for bad credit often times advertise it on their website.

Another option for getting used car financing is to go online and apply through a direct lender that offers bad credit auto financing. Be careful however as there aren’t really many of these types of lenders around. There are many websites that claim to offer used car financing through direct lenders but ultimately send your information to a car dealer instead.

Blue Sky Auto Finance Can Help

Blue Sky Auto Finance, offers used car financing through a lending platform that is integrated with direct lenders and auto dealers who specialize in helping people with bad credit. Once you complete the application, your information is sent to our network of lenders and dealers for a loan decision. If you get approved through one of our direct lending partners, you’ll be notified via e-mail and will be able to purchase a car from a dealer of your choice. In addition, we’ll send your information to one of our participating auto dealers in your area if we have one. If you get approved for used car financing through our dealer, you’ll need to purchase the car from that dealer. Remember, there is no obligation for you to accept the terms of any loan offered and it’s free to apply.

To apply for used car financing through Blue Sky Auto Finance, click here.