Car financing for used car is a HUGE business. The reasoning is simple. Why buy a new car when it is possible to get used car at a cheaper price? Moreover, loans for buying used cars could be available at competitive interest rates fair enough to compete with rates of interests offered on new car loans. Besides, there’s a big market for used cars and the process for obtaining a auto loan can be really very simple. It starts with getting your financing lined up. Once you are approved, you can purchase a car that fits your needs and drive it home! It's as simple as that. Used car finance is also available for all those who have bad or very little credit.