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So, if you have bad credit, you can increase your loan approval chances by leveraging your down payment. Do I Need a Cosigner To Get a Bad Credit Auto Loan? In. Getting approved for a second loan depends on a variety of factors, including: Credit Score. Your credit score can have a major impact on the type of auto loan. Bring documentation that shows evidence of a steady income that can be used to pay back a car loan. Documents such as bank statements, deposit forms, and bank. You may be surprised by this answer, but in most cases, it is possible to get approved for another car loan after you've had a repossession. You'll most likely. The lender will examine your expenses, income and your credit report to determine if and for how much you qualify. With this option, you will know exactly what.
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