When you have bad credit, you are scared of everyone. You think people are pointing at you from all directions as if you had a sign on your chest that says "bad credit" on it. In fact, most people that have had poor credit, are ashamed to walk into a car lot, let alone ask whether they can get approved for a loan. The truth is that you can get a car loan even if you have less than perfect credit, and that loan comes from a legitimate finance company.
Most people believe that only people with excellent credit can walk into a car show room even if they do have giant signs that say "bad credit loans." Because more than half of the population has had credit problems, car dealerships have had to look for alternate financing methods for people that have credit problems. Now there are more financing institutions that are willing to make these loans. In a way they specialize in this type of loan, and any car dealership can help you, if you just explain the situation, and even if you don't explain, they will figure it out and look for alternatives for you when they see your credit report.
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These financial institutions may charge a little more interest, but they help you get out of your credit situation and start rebuilding your good credit. They will base the loan amount on the amount of money you can afford for a monthly payment. This is done just to make sure you can make that monthly payment on time. You just need to remember, that the car is the collateral, and so long as you have a job, and have collateral you can get the loan. If one car dealership cannot find you the right loan, then go to another one. Not all dealerships deal with the same lenders.
Some dealerships specialize in getting these loans and they advertise on that premise. You just need to be aware that the loan you get will probably have a higher interest rate and be for models of lesser value. But the purpose of the loan is to get you into a car and to help you rebuild your good credit standing.
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