BlueSky Auto Finance Fortifies Second Chance Car Loans Solutions

Online, December 16, 2013 (Newswire.com) - BlueSky Auto Finance, a finance company that provides auto loans to people with bad credit, is offering second chance car loans to those affected by the most recent recession and are still struggling to recover. As the economy continues to make progress and as more people start going back to work, people will need sub-prime car loans to recover as fast as possible.

Qualifications

Interested applicants can apply for BlueSky second chance car loans if they fulfill the following qualifications:

• Have a gross monthly income of at least $1800 before taxes
• Have no vehicle repossessed in the last 12 months
• Have all bankruptcies discharged
• Have a FICO score of 525 and above
• Have at least one paid installment or revolving account

Approval Factors

There are additional factors that can affect the chances of the application getting approved. Though BlueSky Auto Finance works with clients with employment difficulties, long work duration indicates job stability, which is worth mentioning in the application.

Applicants should also consider the type of vehicle they are getting the loan for Lenders advice second chance car loan applicants to get something that does not last longer than 24 to 36 months in terms. According to BlueSky, a vehicle of a relatively late model year and less than 70,000 miles is a preferable choice for second chance car loans.

The Demand for Second Chance Car Loans

BlueSky initially introduced the second chance car loans to cater to the needs of people who are still feeling the effects of the recession.
The Bureau of Labor Statistics lists the unemployment rate at 7% in the month of November. This means that nearly 10.9 million Americans are still out of work and in need of these types of loans, BlueSky second chance car loans are a response to those needs.

About BlueSky Auto Finance

BlueSky Auto Finance was founded in 2004 with the intent of working with people who have bad credit. The founders set out to create a better process to help people with bad credit. Their unique auto-lending platform is integrated with lenders that provide direct auto financing as well as a network of auto dealers that offer bad credit car loans.

To learn more about BlueSky Auto Finance visit their site at http://www.blueskyautofinance.com