People that have bad credit can still get a loan. It may not be the loan that they were looking for, but many people can still get one.
What people with bad credit have to understand is that they have damaged the ability to get lower rates. This is what that bad credit score essentially means. It is unfortunate because it puts people that cannot bills in an even worse predicament. They get the loan, but now they have to worry about higher interest rates that may be more than they expected.
The irony behind all of this is that this is often the only way to build the score back up quickly. People that can afford to pay off some debt should do so, but this will not build up a credit score instantly. This is the major reason why these people have to take the higher rates.
A traditional bank will usually not be the way that these buyers obtain the loans. To the contrary, people that get loans with bad credit will go through the car dealerships. This is often how the loans are financed. Banks may consider these companies to be too much of a risk. It will take something like a car dealership with their own financing department to get the ball rolling.
Often this is a used car dealerships that has these types of deals. It will be very difficult for someone to get a new car with bad credit. Even if they could acquire one the interest rates would probably be too high. More info: get a car loan with bad credit