If you're buying a car for the first time and have limited (or no) credit history, this program is a great opportunity for you to build credit, and get a competitive, low rate so you can enjoy a manageable monthly payment.

Features of our first-time buyer loan

  • Borrow up to $30,000.
  • Choose a flexible term, up to 60 months, for a budget-friendly payment.1
  • Get financing for up to 130% of the car's value.2
  • Automatically lower your rate by 0.50% for every year you make on-time payments.3

What you'll need

  • Be 18 or older.
  • Complete a loan application and credit qualify.
  • Make a minimum 10% cash down payment of purchase price (excluding rebates).
  • Show proof auto insurance prior to funding.



Log in to Online Banking to apply.


(800) 462-8328, ext. 6557

Monday through Friday, 7 a.m. – 7 p.m.
Saturday, 9 a.m. – 3 p.m.



SchoolsFirst FCU has a loan program featuring a range of interest rates for some of its consumer loans. A rate is based on a variety of factors, including the applicant's credit rating. Rates quoted are effective as of 06/19/2024 and are subject to change without notice. All loans subject to approval.
  1. Maximum term based on various factors, including the amount financed.
  2. Financing not to exceed $30,000 or 130% of the MSRP on new vehicles (KBB Suggested Retail Value on used vehicles) based on creditworthiness, whichever is less; and may include tax, license, documentation fees, GAP and Extended Warranty/MRC.
  3. Subject to eligibility. Rate may be reduced by up to 0.50% APR increments after 12 consecutive on-time payments. Maximum rate reduction will not exceed lowest APR offered at the time of funding and the maximum number of rate reductions are determined by eligibility. Monthly payment will remain the same, with additional money applied as per the Loan and Security Agreement. This may shorten the term of the loan and total interest paid over the life of the loan.

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