first time car buyer program

First-Time Car Buyer Loan Program

Because Everyone Starts Somewhere

At Greater Nevada Credit Union, we believe a lack of credit history shouldn’t hold you back from getting the car you need. That’s why we created the First-Time Car Buyer Loan Program, designed to help you get an auto loan and build your credit without a co-borrower or guarantor.

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Limited-Time Offer: 90 Days With No Payments on Auto Loans*

Whether you’re looking for a new (or new to you) car, truck, or van, you can enjoy a low rate and take advantage of no payments for the first three months! This offer is good for applications submitted by April 28.


*90-day no pay offer is based on approved credit. Offer is available for auto loans with application submitted by April 28, 2024. Payment Saver Auto Loans are not eligible. If accepted, it will extend your loan by three (3) months, and finance charges will accrue on unpaid principal. Offer is subject to change or cancellation without notice except as required by law.

What is a First-Time Car Buyer Loan Program?

To qualify for most traditional car loans, you need good (or at least decent) credit. There’s just one problem: the best way to build credit is to borrow money and pay it back on time. Most financial institutions won’t lend to applicants with no credit history. It’s easy to see why securing an auto loan is difficult for people who have never borrowed before!

Greater Nevada’s First-Time Car Buyer Loan Program helps lower these hurdles. If you have little to no credit, we can help you purchase your first vehicle. Keep in mind there are still certain requirements–a maximum loan amount, automatic payments from a Greater Nevada account, and completion of a financial wellness course, to name a few–but these are very manageable terms. First-Time Car Buyer Loans can be more accessible options when you don’t have a credit history.

Qualifications for First-Time Car Buyer Loans

Qualifying for our First-Time Car Buyer Loan Program is generally simple.

Have a Clean Record & Steady Income

You must be at least 18 years old and have no open or unpaid collection accounts, judgments, or public records. Please be prepared to show proof of a minimum of 12 months of continuous employment with no breaks, and your monthly gross income (amount before taxes) must be at least $1,800.

Know the Minimums and Maximums

The maximum amount you can borrow with a First-Time Car Buyer Loan is $20,000. The maximum term length is up to 72 months, and the minimum cash down payment is 10% (rebates and trade-equity may not be used to satisfy the down payment requirement).

Setting a Solid Financial Wellness Base

Finally, we ask that you complete at least one financial workbook (provided by us at no cost!) and sign up for automated payments from a Greater Nevada deposit account (checking or savings). For more information about our car loans and general requirements, read on through the link below.

Benefits of Being a First-Time Borrower With Our Credit Union

Our First-Time Car Buyer Loan Program is one of our most financially empowering types of loans that gives you the leg up you need to purchase a vehicle. 

The defining trait of our First-Time Car Buyer Loan Program? No credit history required. Applicants may have a little credit or no credit history at all–either way, we’ll work with you to explore financing options (and begin building up your credit score).

Traditional car loan lenders typically require applicants with no credit history to find co-signers or guarantors, but not us. We don’t want this to be a barrier for first-time buyers anymore.

Making regular payments on money you’ve borrowed is the simplest way to build credit–both your score and your history. A First-Time Car Buyer Loan is a great tool for doing just that.

Enjoy flexibility on the ride you want with a First-Time Car Buyer Loan. With a max loan amount of $20,000 and terms up to 72 months with a fixed annual percentage rate (APR), you can choose from many different vehicles to suit your needs. 

Drive with confidence: protection products like Guaranteed Asset Protection (GAP), Major Mechanical Protection (MMP), and Payment/Debt Protection are available with your First-Time Car Buyer Loan.

Learn More

Start Your Application

Don’t let a lack of credit history keep you from the open road. Apply for a First-Time Car Buyer Loan online or call a local lending expert for assistance!

First-Time Car Buyer Loan Frequently Asked Questions (FAQs)

Seeking a First-Time Car Buyer Loan? We’ve got you covered with helpful answers to common questions.

Do I need established credit to qualify for the First-Time Car Buyer Loan Program?

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Not at all! In fact, the main appeal of this auto loan is the that you don’t need established credit. (Please note that lack of credit isn’t the same as poor credit–in which case our Credit Rebuilder Loan would be the best option.)

What information do I need to get my First-Time Car Buyer Loan?

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You’ll need the typical documentation required for loan applicants: personal identification, any credit history (remember, we accept applicants with little to no credit history at all), and for this particular loan, proof of continuous employment with no breaks for at least 12 months.

What are the insurance requirements for a First-Time Car Buyer Loan?

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All Greater Nevada auto loans must have full coverage on any vehicle for which we’re the lien holder. If you switch insurance, all we ask is that you send us a new proof of insurance. If your insurance lapses, you may be subject to force-placed insurance and any costs associated. Shopping for a new insurance policy? Be sure to check Greater Nevada Insurance1, a subsidiary of GNCU.

How much of a down payment should I make?

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To take advantage of our First-Time Car Buyer Loan Program, you must put down a minimum of 10%. Keep in mind: larger down payments can help to keep your monthly payment low, as well as prevent you from owing more money than your vehicle is worth in the long run.

What is the current First-Time Car Buyer rate?

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Rates change all the time, but you can rest easy knowing we’re committed to sharing the most competitive amounts with our members. Check our most current auto loan rates here.

credit union first time car buyer

Finance Your First Vehicle Today

Thanks for letting Greater Nevada help with your first vehicle purchase! You can start your application online, call our lending hotline, or chat with a consultant via video through your device.

Additional Car Loan Options

As a not-for-profit credit union, our reason for being is to help more people Live Greater. One of the ways we do this is by offering car loans that promote financial wellness via lower monthly payments, better interest rates, flexible terms, or all of the above. Below, you’ll find a few important details about different types of car loans available through our financial cooperative.

1Available insurance products are not deposits of Greater Nevada Credit Union and are not protected by any type of deposit insurance, are not obligations of or guaranteed by Greater Nevada Credit Union or its affiliates, and may be subject to risk. Insurance products are not insured or guaranteed by the National Credit Union Administration (NCUA) or any other agency of the United States. Any insurance required as a condition of the extension of credit by Greater Nevada Credit Union need not be purchased from our Agency but may, without affecting the approval of the application for an extension of credit, be purchased from an agent or insurance company of the customer’s choice.