Blue Sky Auto Loans Review

Blue Sky Auto Finance is an online lending platform that connects borrowers with lenders who offer auto loans. This means they don’t lend money themselves; instead, they provide customers with the option to compare auto loans or refinancing loans from multiple lenders in one place.

APR Range
as low as 3.99%
Loan Amount
24–72 months
3.3 / 5.0
SimpleScore BlueSky 3.3
New Car Rates N/A
Loan Size 1
Used Car Rates 4
Customer Satisfaction N/A
Fees 5

If you have shaky credit or you’ve had some credit problems in the past, you’ll be happy to know that Blue Sky offers extra help for borrowers just like you. They connect users with auto loans for bad credit, people with no credit, and even consumers with bankruptcies on their credit reports.

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In this article

    Blue Sky Auto Loans: Key Takeaways

    • Get a loan with bad credit, no credit, or a past bankruptcy.
    • Over 3 million customers helped to far.
    • Borrow up to $30,000.
    • Qualify with no money down in some cases.
    • Minimum income of $450 per week required.
    • Apply online and get your money in as little as 24 hours.
    • Borrow money for a new or used vehicle.
    • Get a loan to refinance an auto loan you already have.

    Blue Sky Auto Loans Review: A Borrowing Solution for People with Bad Credit

    If you have bad credit and don’t have a lot of options when it comes to borrowing money for a new or used car, you may want to consider using Blue Sky Auto Loans. This company specializes in loans for people with shaky credit or no credit at all, and they may be able to help you borrow up to $30,000 if you meet the minimum income requirement of $450 per week.

    When it comes to auto financing through this company, there are some limitations to be aware of depending on the type of loan you’re after.

    New or used car loans:

    • Borrow between $7,500 and $30,000.
    • Repay your loan between 24 and 72 months.

    Auto loan refinancing:

    • Must be 18 years of age.
    • Must earn at least $1,800 per month.
    • Cannot have a bankruptcy on your record.
    • Mileage must be under 100,000.
    • Vehicles cannot be older than eight years old.
    • Loan amount of $8,000 or more.

    There are no fees to apply for an auto loan or auto loan refinancing with this company, and the interest rate you qualify for will vary based on your creditworthiness and other factors.

    If you do have a good credit score, you can also rest assured that Blue Sky Auto Loans works with partner lenders that offer more attractive rates and loan terms to customers who can qualify.

    What to Watch Out For

    Like other platforms that offer auto loans for consumers with bad credit, the biggest thing to watch out for with Blue Sky is the fact you may be paired with a lender that charges high fees or very high interest rates. If you wind up having to pay a high interest rate, refinancing your car or taking out a loan to buy a new or used car may not leave you any better off.

    Keep in mind that a $20,000 auto loan with a 19% APR would require you to pay $519 per month for 60 months. And by the end of the loan, you would have forked over more than $10,000 in interest payments. If there’s any way to avoid taking out a car loan with a similar interest rate or one that’s even higher, you should try.

    Second, keep in mind that you may have to make a down payment to qualify for one of these loans if your credit score is considered “poor.” Blue Sky Auto Finance says on its website that “the typical required down payment for people with bad credit is 10% of the vehicle’s selling price or $1,000 dollars, whichever is less.” So if you want to purchase a car for $8,000, you’ll probably need a down payment of at least $800.

    Who Blue Sky Auto Loans are Best For:

    • Consumers with bad credit who need a new or used car to get to work.
    • Anyone with improved credit who may be able to qualify for auto loan refinancing with better terms.
    • Anyone who plans to purchase a new or used car in an amount between $7,500 and $30,000 who can qualify for Blue Sky’s best loan terms.

    How We Rate Blue Sky Auto Loans

    At The Simple Dollar, we aim to provide a general overview of a lender’s products and services through a standard rating process. After a thorough research and discovery period, here’s how Blue Sky Auto Loans stack up:

    How to Apply for a Loan with Blue Sky Auto Loans

    If you want to apply for a new or used car loan from Blue Sky, you can do so online by filling out an online application with your name, address, phone number, email address, and the type of vehicle you hope to buy. You’ll also need to include your employment and income information, your Social Security number, and your date of birth. If you’re approved for a loan, it’s possible to get your funds in as little as 24 hours.

    If you plan to apply for auto loan refinancing with Blue Sky, you’ll need to include more information in your application, including:

    • Vehicle registration
    • Auto insurance information
    • Vehicle Identification Number or VIN
    • Odometer reading
    • Current loan information with account number

    If you’re approved for auto refinancing, you could find out in a matter of minutes and also receive funds to pay off your old auto loan in as little as 24 hours.

    Check Your Auto Loan Rates

    View our top-rated lenders and find the best rates today. It’s quick and easy.



    We’ve created the SimpleScore™ to help you objectively compare products and services here at The Simple Dollar.

    Our editorial team:

    • Identifies five factors to compare across each brand
    • Determines the rating criteria for each factor
    • Calculate an average of those five factor scores to get one SimpleScore™

    We break down each of these five factors and their rating criteria for our review of the best auto loan companies of 2020.

    Why do some brands have different SimpleScores™ on different pages?

    Some brands like Bank of America, Wells Fargo, and Chase have different SimpleScores™ because they offer more than one financial solution — like auto loans, home loans, personal loans and banking.

    For instance, in our Bank of America Mortgage Review, we give the company a 3.8 out 5 based on our five rating factors for mortgages. In our Bank of America Auto Loans Review, we give the company a 4.4 out of 5 based on our rating factors for auto loans. By tailoring our SimpleScore™ to each financial solution, we’re able to give you a more accurate view of their services and how they compare to competitors’ services.

    Minimum new car rate

    Companies that look out for new car buyers with lower rates receive higher scores from us.

    Minimum used car rate

    We also give higher ratings to companies that look out for used car buyers by offering lower rates.

    Maximum loan size

    Having enough money to cover your auto loan is important –– that’s why companies with higher maximum loan amount receive better scores from us.

    Customer satisfaction

    We use the J.D. Power 2019 Consumer Lending Satisfaction Study℠ to find out how customers rate their experience with each company. (If a company is not included in J.D. Power’s study, we skip this rating factor and average the remaining factor scores.)


    Fees can add up very fast –– that’s why we give a higher score to companies who have fewer fees.

    Holly Johnson

    Contributing Writer

    Holly Johnson is a frugality expert and award-winning writer who is obsessed with personal finance and getting the most out of life. A lifelong resident of Indiana, she enjoys gardening, reading, and traveling the world with her husband and two children. In addition to The Simple Dollar, Holly writes for well-known publications such as U.S. News & World Report Travel, PolicyGenius, Travel Pulse, and Frugal Travel Guy. Holly also owns Club Thrifty.