Car insurance companies check a variety of things when deciding whether they are prepared to provide you with cover for your vehicle and also in deciding how much to charge. For instance, they will take into account things like your age, what you do for a living, the make and model of your car, how many miles you are likely to travel each year in the vehicle, any convictions you have and where you will park the car overnight.
Insurance companies may also undertake a credit reference search especially if you wish to take out cover for your car where you pay monthly for the premiums. Some insurers may not be prepared to consider providing cover for motorists who have a bad credit rating if they only want to pay the premium on a monthly basis. Some insurance companies may only consider providing cover if you are prepared to pay the premium up front on an annual basis or some may require you to pay a large deposit to partly cover the premium and then charge you monthly for the remainder.
Some insurers may decide to charge more for insuring your vehicle if you have a poor credit rating.
If an insurance company is prepared to allow you to pay monthly for your car insurance then it is quite likely that you will be charged interest. This is because, in effect, you are borrowing the money from the car insurance provider. The interest rate charged can sometimes be quite high.
If you have a poor credit rating then you may wish to bear in mind the above. You may wish to shop around for your cover as the terms and conditions may vary between insurers as to their attitude towards providing cover for people with bad credit. Using a price comparison website is a quick and simple way of obtaining one or more quotes.