If you have bad credit there is a special type of loan you can apply for online known as a bad credit auto loan. Most of the credit unions and banks use your FICO score. The FICO score is a credit score that is a compilation of your loans, credit cards, bank accounts and other payment history. Your credit history would reveal whether or not your history includes foreclosures, bankruptcies, or repossessions. The FICO score can be anywhere from 300 to 900. Those that have a credit rating below 600 are termed as risky customers, while those that have a score above 720 are termed as good customers.