Bad credit auto loansare nothing but charging higher interest rates than normal charges as to improve your credit score through paying a monthly instalment but on time. They have a approval faster than normal loan approval. It could be approved within a few hours with no verification process. Auto loans are the vehicle that becomes pledged asset for the lender. Therefore no need for a consignor. Even car financing proved to be beneficial at times. First thing you must know the steps to finance the vehicle. Decide a budget and the facilities you want. You should always do your research. Then figure out which type of loan is required and from where.