First Time Auto Buyer

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We'll help you buy your first vehicle

We want to share in the excitement of your first car buying experience.  If you have very little to no credit, no worries. Our First-Time Auto Buyer Loan offers an easy application process, manageable terms and is a great way to build credit. Plus, with every approved First-Time Auto Buyer Loan, you’re eligible for a Visa® Platinum Credit Card with a minimum $250 limit*.

Our hassle-free, no obligation Free Car Buying Service will help you find the perfect vehicle. You may also secure financing directly by visiting one of our Partner Dealerships.

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Loan Perks


Loan amounts up to $20,000


Flexible terms up to 72 months**


Rate discount for a 90% LTV down payment1


No hidden costs or early payoff penalties


Easy online and mobile payments

It's easy to qualify for the First-time Buyer Loan

  • Must be at least 18 years old
  • Must be employed for a minimum of one (1) year
  • Proof of gross monthly income of at least $2,000 - Monthly payment not to exceed 15% of gross income
  • No more than 13 months of history reflected on credit report and no previous vehicle loans or derogatory credit reported (collections, liens, etc.)
  • Minimum $500 down payment
  • Used vehicles up to 7 model years old
  • Maximum mileage of 100,000

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What information do I need to get a loan

  • Government issued photo ID - a driver’s license, state-issued ID or a military ID
  • Recent paystub, W2 and/or filed and signed tax returns (for self-employed individuals)
  • Auto Insurance Declaration Page
    • The auto insurance declaration page is a summary of your auto insurance policy. Declaration pages are issued upon the inception, renewal or revision of a policy and must be submitted to any lienholders.

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Ask a Question about our First-Time Auto Buyer Loan

*Approval is not guaranteed and subject to credit approval. Applicant and the applicable co-signer must be a current member or eligible for membership at Apple FCU.

**Members may add three months to the terms of their loan with the addition of Mechanical Repair Coverage, Guaranteed Asset Protection Advantage (GAP) and Loanshield™ Payment Protection. A maximum of nine (9) additional months may be added to terms up to 72 months.

1Members who borrow 90% LTV will receive a 0.25% rate discount and members who borrow 80% LTV will receive a 0.50% rate discount. Auto value is determined using MSRP, NADA and Kelly Blue Book. 

More helpful resources

Car Buying Made Easy

In the market for a new vehicle? Learn how to improve your next car buying experience, eliminate time-wasting dealer negotiations and secure a rate and payment that doesn’t break the bank. Apple Federal Credit Union is ready to help!

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