The criteria used include the vehicle's year of manufacture, mileage, condition, current market value, and other factors. 

Many people don't know this, but a vehicle-secured loan is an option for those with a negative credit history, meaning they have a negative credit score. 

Yes, even those with outstanding debt or restrictions on their name can apply for a secured loan. Profile and vehicle analyses are also conducted. After all, you may be in default, and that's something that could prevent you from obtaining credit. 

It's also important to point out that just because you have a clean credit history and a paid-off car doesn't mean you're eligible for a vehicle-secured loan. This type of credit also has its restrictions.