In most cases, auto loans are secured loans. This means that the lender has more security when giving a loan to any individual because they can take your asset if you don’t make your payments. Bad credit auto loans are given to very few people because usually banks lose quite a bit of money if they have to take your car away. If you have had a poor credit history, you will need to have the added security that you can put towards an auto loan in order to qualify. Be certain that not all people will be able to qualify for an auto loan, but there are more people than you might think that will. The only way to find out is by walking into a bank and applying.When you try to secure a bad credit auto loan, the lender will look first at your credit history to determine if you will be able to make all of your payments. If you have had bad credit, many lenders will consider you to be to high of a risk and believe you will not be able to make your payments in the full amount or on the time they are due. Because of your poor credit history, lenders are not as willing to lend money. If you do find a lender that is willing to front you the money, he will more than likely give you a very high interest rate – but at least you will be able to get a car.When you begin the application process for a bad credit auto loan, be sure to speak with several different lenders. As you speak with the lenders, be up front with them about your poor credit history. Tell the lender that you are fixing your credit history and that you are in a much better situation than you were before despite what your credit report reflects to the lender. Disclose to your lender the amount of money that you make each month as well as how much you spend. Be sure to be honest about everything. Based off the information that you provide, the lender will be able to better determine how much money he is willing to lend you and at what interest rate.Be certain to get multiple quotes from many different lenders. As you shop around among the different lending institutions, you will be able to determine which loan works best for you. You will also be able to get a better interest rate from some lenders. In addition, you may also be able to lower the amount of your monthly payment.If you are still having a hard time qualifying for a loan even after you have looked into many different lenders, offer to make a down payment. Most down payments are equal to about five percent of the cost of the vehicle. The down payment will show a lender your ability to pay for a loan and that you have no intentions of defaulting on the loan. It also makes it so the lender won’t lose money if they have to take your car away. The loan amount will be less than what the car is worth.