Even in times of financial hardship, there is no reason to think that a new car cannot be purchased. True, a Ferrari might no longer be within the realms of reasonable expectations, but if your existing vehicle is a little worse for wear, and transport is essential for your work, then splashing out is necessary. It is good to know, then, that auto loans with bad credit are not difficult to get at all.Understandably, many people are convinced that low credit scores make applying for auto loans a waste of time. But lenders have special auto loans with poor credit available to suit the needs of those who might otherwise be rejected because of their credit history. While the terms may not be perfect, from the right lender they can be competitive, and provide the opportunity to get the new car that is needed.Of course, an excellent credit history places an applicant in a stronger position, but it is not that difficult to get auto loans approved despite poor credit if some simple steps are taken ahead of making the application.Know What Is AffordableThe first step to putting together a successful application is to work out what is affordable. Looking for an unnecessarily large auto loan with poor credit will probably end in failure. So, put together a budget that does not add much pressure to your financial situation, then check out the range of automobiles that fall within it.Of course, lenders may have a different idea of what is affordable, which is why it is important to know what your credit rating is. By finding out your score, it is possible to spot the weaknesses in your loan application, and strengthen it accordingly. Personal credit reports are available online, though some may charge a fee.The essential factor to consider when seeking to get auto loans approved despite bad credit is that the loan repayments must be affordable. As long as that is proven, the chances of approval are high.Save a Down PaymentThe second step to take is make sure a down payments is available to secure the vehicle you choose. Many mistakenly believe that this has no bearing on applying for a car loan with bad credit, but in fact it does. As far as the lender is concerned, anyone who can save several thousand dollars to use as a down payment has exercised the type of financial discipline they like to see.With this in mind, saving the largest down payment possible is important. This also means that the size of the loan is made smaller. A car costing $20,000, with a down payment of $3,000 means a loan of $17,000 is required – a down payment of $5,000 lowers the loan to $15,000.Of course, this has added benefits for the applicant too, making the monthly repayments smaller. This, in turn, makes it easier to get the auto loan approved despite bad credit, because the transaction becomes more affordable.Find the Best TermsLastly, spend time looking for the best loan terms. There is nothing wrong with visiting banks and credit unions for auto loans with bad credit, but the chances of getting good interest rates, for example, are quite low.The fact is that the auto loans with bad credit available from online lenders offer more competitive rates, and through the comparison sites that are so common, the best deal can be found quickly.And, it is generally easier to get auto loans approved despite bad credit with online lenders because of the niche market they serve. Your best bet, therefore, in securing that car loan with bad credit is on the internet.