Lenders consider the risk and reward of every loan. If you are risky, you are going to reward the lender with a high interest rate. If you are VERY risky, you are going to reward the lender with a VERY high interest rate and a large down payment.

Since the lender is writing one big check for the car and you are writing a small check every month to pay for the car, the lender has more control over the vehicle than you might think.

The lender can say how new the car needs to be, how many miles the car can have on it, and the auto lender can even say that certain engine sizes or makes/models are off limits.

Plan ahead for your auto loan. Save up some money down. Know what your credit looks like before you try to buy a car. You can get a free copy of your credit bureau at annualcreditreport.com. Make sure there is nothing inaccurate hurting your chances.