Lenders take many factors into account when considering an auto loan application from buyers with bad credit, and most lenders will make a decision based in part on credit score. Although it is not the sole factor, your credit score plays a key role in determining whether your application will be approved, and what interest rate you will be given. Credit score is an indicator of the buyer's creditworthiness, and their ability to pay back a loan. Your credit experience history is compiled in your credit report.