Bad Credit Loans

QWhy Were I Charged High Interest Rate On My Bad Credit Auto Loan If I Had A Bad Credit History, But Additionally A Lien Was Placed On My Vehicle Untill Bad Credit Car Loan Has Been Paid In Full?
ASome companies will try to rip you off by offering you reasonably high interest rate on your bad credit auto loan, but that is acceptable as you have defaulted on your previous credit arrangement and you pose high risk on company granting you a bad credit auto loan. But when company places an additional lien on your vehicle untill bad credit car loan has been paid in full is unfair arrangement, as vehicle is being used as collateral, since this eliminates most of the risk. Therefore, be careful of signing any arrangement which you are not sure of before consulting with expert or doing a research.