It is said by people that one should never approach a bank for bad credit auto loan facilities as they are never interested in people whose credit score is low as the risk involved in these cases is high. The risk is high for the credit companies and private lenders as well but they can afford to provide the bad credit auto loan facilities as they charge high interest from the borrower and they earn their living by depending on the interest earned on the financing. In case of banks, they already get the money from saving accounts and other things which is why they can choose to be pickier regarding the applicants.
However, many credit consultants suggest that the banks that the applicants have their accounts in should always be approached because they are seen to be a lot more lenient with their applicants and clients. This is because of the fact that the bank knows that the applicant of bad credit auto loan is genuine and has just suffered a setback due to the financial troubles which is expected in these times. Hence, they are more than willing to provide the finances to these individuals so that they can earn the right to purchase their own car.