First Time Auto Buyer Loan

When it’s your car, you’re the boss.

Vroom! Vroom! This ride has left the lot.

Sorry, you just missed the First Time Auto Buyer program for first time car buyers. But that doesn’t mean you have to be left out! Get the details on our regular auto loan. When you’re ready, you can apply online or call us at 210-349-5626.

In the meantime, check out our Student Blog for great information on building credit, paying off student loans, buying your first car and tons more! And if you’re interested in working for our credit union and bolstering your resume (not to mention your paycheck), then take a look at our career opportunities for both part-time and full-time positions.

  • Be at least 18 years old.
  • Employed for the last three months.
  • Have car insurance or a quote.
  • Have a valid Texas Driver’s License.
  • Make at least $1,000 monthly income.

Some other details you should know about:

  • You cannot have a previous auto loan on your credit report. This loan is for first-time auto buyers only. If you are not a first-time buyer and are interested in Generations financing your next vehicle, you can learn about our regular auto loan here.
  • No derogatory credit may be present on your credit report.
  • You must have a Generations checking account in order to qualify for this loan. If you’re not already a member, you can apply online.
  • No joint applicant or cosigner is required, but the option to have a qualified cosigner is available.
  • You can refinance your loan with Generations if you have a first auto loan at another financial institution.
  • Loan terms are up to 60 months. The maximum loan amount for new or used vehicles is $25,000.
  • Motorcycles and recreational vehicles are not eligible for a First Time Auto Buyer Loan. You can learn about financing one of these vehicles with Generations here.

Find out if you’re ready for a First Time Auto Buyer Loan by taking the quiz. Once you pass the quiz, you will be directed to the Application Form.

Note: Passing the First Time Auto Buyer Quiz does not guarantee you will receive a loan. You will still need to qualify through our application process.

All loans subject to approval. Rates are subject to change without notice. Rates and terms may vary based on creditworthiness. Members bringing over a first-time car loan from another financial institution do qualify for the First Time Auto Buyer Loan. The First Time Auto Buyer Quiz is not a contest. There is no guarantee of a loan approval upon completing the First Time Auto Buyer Quiz online. To be eligible for membership with Generations Federal Credit Union, you must live, work, worship, volunteer or attend school in Bexar County, Texas. You are also eligible for membership if you are family of a current member.