BlueHarbor LLC was started in 2010 under their parent company BlueYield Inc. BlueHarbor is essentially a customer service team who receives your auto loan application and searches for a the lender who is willing to offer the lowest interest rate. BlueHarbor usually takes around a week to respond to applications (according to customer reviews) since they are petitioning other companies to offer you a loan. The good news is, BlueHarbor loan applications are generally approved since they are simply searching for the lowest APR that you qualify for. Additionally, BlueHarbor’s website provides general car buying advice as well as add-ons like vehicle protection plans.

Rank Chart
Loan Amount
Term Length
Our Score
#1
$10k-$100k
36-75 months
6.1
#2
$5k-No Max
12-84 months
5.9
#3
Variable
36-72 months
5.9
#18
blue_harbor
$5k-$100k
24-84 months
4.0

The Good

  • Bad credit options
  • Online application
  • Possible low APR

Poor Credit

BlueHarbor’s slogan is “Your lifeline to great rates.” Although this may not be true for people with excellent credit, Blue Harbor can be a useful tool for individuals who are struggling to qualify for an auto loan. According to customer reviews, most people who could not get approved at a bank still received an offer from BlueHarbor.

Advantages

  • Possibility of low APR interest rates (1.99 percent)
  • Advertised that BlueHarbor customers save an average of $100/ month on payments
  • Easy online application
  • No application fees
  • No advertised early pay-off fees (may vary by your matched lender)
  • Extended term lengths (up to 84 months)
  • Bad credit loans offered
  • Loan consultant hotline to assist with paperwork
  • No mileage limit (might affect APR interest rate from lender)

Customer Service

A company with an active customer service line who is willing to find a lender option for your personalized loan requests is definitely worth some attention. They also have positive customer reviews online and many advertised testimonials recommending BlueHarbor for its quick and easy application.

The Bad

  • No specific information
  • No side-by-side comparisons
  • APR rates may be higher

Lacking Information

Although BlueHarbor is more likely to approve your application through its network of lenders, they cannot provide specific information about conditions and fees. Their third-party financing structure leaves you slightly uninformed until after the entire application process. Since you don’t have a direct connection with the lender, you cannot view how small changes might affect your APR interest rate. Some companies weigh make, model and mileage of the car into your interest rate; while other companies place more of an emphasis on credit history and term length. BlueHarbor makes it so you are unable to compare your payment options side-by-side. Additionally, BlueHarbor is focused on simply getting your loan application approved, which means you might be facing an interest rate much higher than their advertised 1.99 percent.

The Bottom Line

While BlueHarbor might be a good last resort for someone struggling to get loan approval, we would not recommend BlueHarbor to the average consumer. Most lending companies offer more information, more security, and more perks to their customers. When it comes to applying for an auto loan, you need to have all the information. BlueHarbor just doesn’t have enough options for your auto loan.

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