Here are 4 crucial steps to get financing with really bad credit. Don’t get discouraged just because you have poor credit. Bad credit can happen to the best of people. Things happen in life that can cause credit issues, like losing your job, divorce, bankruptcy, foreclosures, illness, etc. The good news is that buying a car with bad credit isn’t impossible. Today you have options, no matter how terrible your credit is.Keep in mind that your interest rate, down payment, monthly payments and the amount you can borrow will be based on how bad your credit is. You may also be limited to what, year, make and model car you can qualify for.Don’t let any of this discourage you. Keep in mind that this is only temporary as you rebuild your credit. This is not a permanent situation. On most loans, after making the payments on time for a couple of years, you can refinance for a better rate.Just because you have bad credit doesn’t mean your world is over. It may take some extra work on your part, but it is very possible for you to get a car loan with really bad credit.Preparation for getting an auto loan with bad credit.1. Even though you may know that your credit is bad, you want to know what your credit score is. Get a copy of your credit report so you know exactly what you are dealing with. Credit reports are easily available online from many sources. With your report you will also know if there are any items that have been incorrectly reported. This will give you a chance to get anything removed that shouldn’t be on your report.Be aware of your credit score and how it is used to determine if you can get approved for a loan or not. Credit scores range from 300 to 800, where 800 is excellent and 300 is really poor. Any score that is below 620 is viewed as a high risk loan, and lenders refer to scores in this category as subprime. Subprime loans always require a down payment and are a much higher risk, therefore you will pay a higher interest rate. With this type of loan you may need a co-signer or a trade-in vehicle to qualify.2. Review your financing options and research for dealers that work with buyers who have credit problems. If you credit is really bad, you may want to consider an independent dealer with “buy here, pay here” programs. They are usually easier to work with because they don’t have your traditional financing stipulations and guide lines to follow. They carry their loans in-house.3. Take time and evaluate your budget before you go looking at a car. Some subprime car loans can run as high as 25 percent, depending what State you live in. This amount of interest can have a huge impact on the total price you will have to pay for the vehicle. Having poor credit leaves you in a position with little room for negotiation on the interest rate, so plan to provide a good down payment or have a trade-in vehicle to keep your monthly payments within your budget.4. Once you locate a dealership that offers plans to help you, be up front and explain your credit situation. Be honest and tell them exactly what you can afford and what you have as a down payment. If the dealership offers a financing plan that works for you and meets your needs, then pick out your car and sign the loan papers. Be sure and make your payments on time as you rebuild your credit for future loans and better interest rates.