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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.
First-Time Car Buyer Loan Program
Because Everyone Starts Somewhere
90 Days With No Payments on New and Used Auto Loans*
Looking for a new (or new to you) car, truck, or van? Start here with a low rate and a limited-time offer of no payments for the first three months. Then, hit the road anywhere!
*90-day no pay offer is based on approved credit. Offer is available for auto loans with application submitted by June 30, 2025. 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 60 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 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.
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!
Protection for Your First Auto Loan
Stay covered with protection solutions designed for your loan and vehicle.
Payment/Debt Protection
Payment/Debt Protection helps cover your loan payments or balance in the event of involuntary unemployment, disability, or death. It’s a simple way to ensure your finances stay on track during difficult times.
Payment/Debt Protection
Guaranteed Asset Protection (GAP)
When your vehicle is totaled or stolen, the last thing you want is to be left with a large loan balance you can’t cover. GAP helps bridge that financial gap, and may cover the difference between your loan balance and what your insurance company will pay.
Guaranteed Asset Protection
Mechanical Breakdown Protection (MBP)
Unexpected breakdowns can be costly and stressful. With MBP, you can drive with peace of mind, knowing you may be covered against unforeseen repairs.
Mechanical Breakdown Protection
Do I need established credit to qualify for the First-Time Car Buyer Loan Program?
What information do I need to get my First-Time Car Buyer Loan?
What are the insurance requirements for a First-Time Car Buyer Loan?
How much of a down payment should I make?
What is the current First-Time Car Buyer rate?
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.
Traditional Auto Loan
Buying a car is simple and straightforward with this standard car loan, offering competitive rates and flexible terms.
Learn More
Payment Saver Auto Loan
Drive it like you own it, pay it like you lease it. Enjoy the freedom of lower monthly payments up to 40% less than conventional loans with this flexible and convenient loan option.
Learn More
Car Loan Refinance
Whether you want to lower your monthly payments with a lower annual percentage rate (APR) or tap into your car’s equity, we’re here to help refinance your current car loan.
Learn More