One needs to be well aware of the facts and terms regarding any Very Bad Credit Car Loan. Else there is every possibility that you will find yourself caught at the wrong end out of your ignorance and/or over enthusiasm. In case you have a very poor credit rating, most of the times you will have to face steeper rates of interest. The down payment involved in such cases is also pretty high. All these because the issuing agent is not very secured about your financial transactions owing to your poor credit history.