Okay.. So you have what people call “Bad Credit” and you need a vehicle. The banks will consider you a risk due to your credit rating and give you what’s called an interest rate. When financing a vehicle your rate dictates a lot. It can dictate your payment and your overall equity position due to the balance on the loan being more then what the vehicle is actually worth. Keep in mind that just because you have a bad credit loan and paying high interest- doesn’t mean you’re stuck. Keep the loan for 8-12 months. Pay on time and keep your vehicle in good shape. Once the time is up- contact your finance company (driving your credit) and re submit your info and get ready for the bank to re assess your rate!