First-Time Auto Buyer Program

Are you ready to purchase your first car but worried about a lack of established credit? We’ve got you covered! Our First-Time Auto Buyer Program is specifically designed to help members like you get behind the wheel and start building credit at the same time.

Program Highlights

No Down Payment Required – Keep your savings intact.
No Co-Signer Required – Confidence in your independence.
No Payments for 60 Days – Drive now, pay later.
Parental Co-Borrower for Minors – A supportive option for younger borrowers.

Eligibility Criteria
We’ve made it simple for you to qualify:

Employment Stability: At least 12 months of continuous employment with no more than a 30-day gap. Proof of employment and income required.
No Previous Auto Loans: Whether you’re starting fresh or just getting started, we’ve made credit history optional.
No Unpaid Collections: Get approved without the burden of derogatory credit or unpaid debts.

Loan Details
We’ve tailored the loan terms to fit your needs:

Loan Amount: Borrow up to $30,000.
Vehicle Age & Mileage: Vehicles up to 10 years old with up to 100,000 miles are eligible.
Loan Term: Flexible terms up to 72 months.
Competitive Rates: Just 2% above our current published rates.
No credit score? No problem!

Why Choose This Program?

Establishing credit has never been easier.
Begin your financial journey with confidence.
Affordable terms and conditions to match your budget.

Ready to Apply?
Don’t miss out on the chance to drive your first car hassle-free! Contact us today or visit your nearest branch to learn more about the program and apply.

First-Time Car Buyer Loan Program is designed to support members purchasing a vehicle for the first time by offering favorable loan terms and comprehensive support. To qualify for this program, applicants must meet the following criteria: be at least 18 years of age, or if the borrower is a minor, a parental co-borrower is required; attend a financial education session with one of CFCU certified financial counselors; have no credit history (applicants must not have any outstanding derogatory credit or unpaid collections); have a minimum of 12 months of continuous employment history with no more than a 30-day gap in employment, and provide proof of employment and income; and have no previous auto loans. No co-borrower or signer is required unless the borrower is a minor. Loan-to-Value (LTV) is available up to 105%, including all add-ons and processing fees. The maximum loan amount is $30,000, with a maximum vehicle age of 10 years and a maximum mileage of 100,000 miles. The maximum loan term is 72 months. Interest rates for this program will include an additional 2% added to the current published rates by credit tier. Rates, terms and conditions vary based on creditworthiness, qualifications and collateral conditions. All loans are subject to approval and rates are subject to change without notice. Other conditions may apply.