PROS / Once you're approved, you have up to 30 days to find a car to use your loan to purchase.
CONS / BlueHarbor doesn't have any online tools to help you search for cars.
VERDICT / BlueHarbor is one of the better brokers we reviewed, with a quick and simple application process and versatile loan offerings.
BlueHarbor is an auto loan service operated by BlueYield, INC. BlueHarbor is a broker, which means that is does not provide loans directly but connects you with financial institutions or local dealers willing to fund your auto purchase. BlueHarbor's application process rated strongly, but it lacks the loan flexibility to make it a truly standout service.
When reviewing online auto loan services, we considered the versatility of their loan offerings to be the most important consideration. You want to be able to get a loan whether or not you have a specific car picked out. This is one of the benefits of choosing a broker for your auto loan service – you can get multiple offers from financial institutions or dealers and use those offers to shop around.
BlueHarbor received an 80 percent on our flexibility score, largely because you are required to make up any difference yourself if you choose a car that costs more than you've been approved for. Many other services allow you to reapply or work with you to adjust your loan. Loans offers you receive through BlueHarbor can be used at franchised and independent dealerships as well as with private sellers.
We gave this service a 98 percent on our Ease of Application score. It offers an online application process and can pre-approve you for loan offers in up to 24 hours. As a broker, any additional documentation you are required to provide is decided by the lender you choose. BlueHarbor works with both financial institutions and local dealerships. Whether or not you can set up automatic payments depends on the lender you choose, but most financial institutions offer this service. You can set up an online account with BlueHarbor to monitor your application and track your offers.
BlueHarbor has excellent customer service. Our reviewer spoke to customer service over the phone and found them to be helpful and knowledgeable. They thoroughly explained the process and were quick to reply when we followed up by email. You can find informative articles about auto lending on BlueHarbor's website.
BlueHarbor is among the best brokers we reviewed. This auto loan service works with both banks and dealers to match you with the best car loan.