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.

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.