Getting financing for cars can be extremely difficult if you have poor credit. The interest rate for a used car will often be double that of a new car. There are lenders that offer Used Car Loans to people with poor credit, but the payments may be higher than you actually want to pay. Getting financed through the dealership often yields as least a 3% higher interest rate than that of a bank. The best thing to do is make sure you credit rating is at least 680 to ensure you can quality for the premium interest rates for a used car loan.