If you have bad credit a traditional automobile loan through a bank may not be a possibility for you. However, people with bad credit might have an easier time seeking a credit union car loan instead.
A credit union is a financial cooperative with services provided only to people with memberships. The idea is to be better able to provide loans at a much better rate than what can be found at commercial lending institutions. Depending on the membership level, length of time they have been a member and other considerations, many credit unions have devised plans for their members with less than perfect credit.
Unlike a traditional bank, credit unions are non-profit organizations. That means they do not make profits for stock holders because the only stock holders are the credit union