Here's a tip for you to help you get a better interest rate when you apply for a bad credit loan. This can help quite a bit.

Quit using your credit cards for 90 days before applying for a new loan. Also, start to pay down your credit cards. Reducing the amount you owe on credit cards will improve your credit score. With a better credit score comes lower interest rates on loans you take out in the future.

Also, never take the first loan offered you. Always shop around and compare different interest rates so as to get the lowest possible rate. Unless you've done a lot of comparison interest rate shopping you may not know that there is a wide range of interest rates available in the market. It can take some work to find the lowest rate but it will save you lots of money in the long run.