It is possible to get a car loan with bad credit, although having bad credit will raise the rates you're offered. If you are having trouble getting approved or finding acceptable rates, try taking these steps: Make a large down payment: Making a larger down payment will lower your monthly payment, but it could also help you qualify for better rates. Consider a co-signer: A co-signer with good credit will take on some responsibility for your loan if you default, but they can also help you qualify. Reduce existing debt: Before applying for an auto loan, pay down as much debt as you can and avoid opening new accounts, like credit cards.