First-Time Auto Loans
No credit history? No problem.1 You could still get approved for your first car loan.
Get where you need to go—and build your credit on the way
Low down payment
With a minimum 8% down payment, you can borrow up to $20,000 with no co-signer—or add a co-signer if you need more (your maximum monthly payment amount of 15% of your gross monthly income).2
Terms up to 72 months3
Choose your speed: Cruise with lower payments (and a longer loan), or zoom to the finish line with a faster payoff. You’re in the driver’s seat!
For new or used cars
Used cars can be up to six years old, with a maximum mileage of 85,000 miles.1
What Will My Monthly Auto Payment Be?
Your Estimated Monthly Payment:
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APR = Annual Percentage Rate. For estimation purposes only. Eligibility requirements and fees may apply.
Apply Now1APR = Annual Percentage Rate. For estimation purposes only. Payment examples do not include amounts for taxes and insurance premiums; actual payment obligation will be greater. Loans are subject to credit approval.
Worried about taking on debt?
We offer three services to help protect you if things go wrong.
- Guaranteed Asset Protection (GAP)4 covers your loan balance if your car gets totaled and you owe more than your insurance will pay.
- Member Protection Plus5 can cancel or waive your loan payments if you lose your job, become disabled, or die unexpectedly.
- Mechanical Repair Coverage6 pays for covered repairs to your car, like an extended warranty.
Auto Loan FAQs
To qualify for a first-time auto loan, you must:
- Work for the same employer continuously for at least six months before you apply
- Earn a minimum of $1,500 in gross monthly income
- Have a maximum payment-to-income ratio of 15% (which means that your payments can’t be more than 15% of your monthly income)
If you graduated from college within the last six months, we waive these employment requirements.
Yes, we offer loans for used cars and other vehicles. Just fill out our online loan application to get started, or contact us if you have any questions.
Yes, we offer loans for motorcycles, RVs, boats, non-motorized campers, and more.
Yes, we offer refinancing for vehicle loans. Just fill out our online loan application to get started, or contact us if you have any questions.
Explore our other loans
Auto Loans
Low rates, flexible terms, and up to 125% financing to cover taxes, fees, and more. And your first payment is deferred up to 45 days.
Motorcycle Loans
Loans for new and used motorcycles with low rates and flexible terms, so you can find a bike that gets you where you need to go.
Student Loans
Whether you’re a college newbie, a grad school boss, or just need to refinance, we’re here to help.
Learning Center
Go beyond banking with resources and news to help you make informed financial decisions.
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1Loans are subject to credit approval, additional terms, conditions, and limitation may apply. Your Annual Percentage Yield (APR) may differ based on your creditworthiness, the age and condition of the collateral or the length of the loan term. Your APR could be higher than the stated rate. Please ask a loan officer for details on how your rate is determined. Payment example: A 2023 auto financed for 72 months @ 8.33% APR would have a payment of approximately $17.70 per $1,000 borrowed. For additional payment examples, please visit our loan calculator.
2The maximum payment amount for a member who earns $2,000/month gross income is $300 per month. ($2,000/month x .15 = $300/month)
3Exceptions apply. Call for more information.
4Your purchase of MEMBERS CHOICETM Guaranteed Asset Protection (GAP) is optional and will not affect your loan application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid.
GAP purchase from state-chartered credit unions in FL, GA, IA, RI, UT, VT, and WI, may be with or without a refund provision. Prices of the refundable and non-refundable products are likely to differ. If you choose a refundable product, you may cancel at any time during the loan and receive a refund of the unearned fee.
GAP purchase from state-chartered credit unions in CO, MO, or SC may be canceled at any time during the loan and receive a refund of the unearned fee.
GAP purchase from state-chartered credit unions in IN may be without a refund provision. If the credit union offers a refund provision, you may cancel at any time during the loan and receive a refund of the unearned fee.
5Payment protection products include debt protection products available through the credit union and MEMBER’S CHOICE® credit life and credit disability insurance underwritten by CMFG Life Insurance Company. Your purchase of Member Protection Plus is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement, for a full explanation of the terms of Member Protection Plus. You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid. DPGAP-0813-5B06, CUNA Mutual Group 2014, All Rights Reserved.
6Mechanical Repair Coverage is provided and administered by Consumer Program Administrators, Inc. in all states except CA, where coverage is offered as insurance by Virginia Surety Company, Inc., in WA, where coverage is provided by National Product Care Company and administered by Consumer Program Administrators, Inc., in FL, LA , and OK, where coverage is provided and administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023 and Oklahoma License #44198051), all located at 175 West Jackson Blvd., Chicago, Illinois 60604, 800.752.6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In CA, where Mechanical Repair Coverage is offered as insurance (form MBIP 08/16), it is underwritten by Virginia Surety Company, Inc. Coverage varies by state. Replacement parts may be used or remanufactured. Be sure to read the Vehicle Service Contract or the Insurance Policy, which will explain the exact terms, conditions, and exclusions of this voluntary product.
Products / Services Offered By Third Parties / Affiliates: Any financial, investment, warranty, credit insurance or other products or services (“products”) which are provided by third parties or any affiliates are not products of the Credit Union. If the purchase of same is facilitated by or through Credit Union financing; such is merely a convenience to the borrower(s) and in no way creates any contractual or other relationship between the borrower(s) and the Credit Union with regard to any such products. Any rights, obligations or claims with regard to such products shall be solely and exclusively by and between the party providing such products as may be set forth in any applicable contracts, agreements or otherwise, and the Credit Union shall have no obligations, responsibilities, duties, or liabilities whatsoever regarding same.
