First Time Auto Buying Program

The First Time Auto Buying Program was developed by Family First to teach and reward good financial habits for first-time auto buyers. To be considered for this program, you must be a first-time auto loan borrower, you must put 20% down payment, and you must have 18 months of an established work history. Our definition of a “first time auto buyer” is any member who does not have any auto loan history on their credit report.

Once the auto loan is granted from Family First, the following things take place: 

  1. A tracking record will be placed on all first-time auto buyers at the start of the loan and it will be reviewed for 12 months. 
  2. After 12 on-time payments, you can refinance the auto loan at no cost!
    • Credit will be pulled and reviewed to determine the “new rate”.
    • If the credit score has increased, the loan rate will be decreased to the “going rate” for the year/make/model of the vehicle.
    • You will need to sign a new contract for the remaining term of the original loan but at the lower rate. 
    • You will be pre-approved for a $1,000 credit card.
    • If the credit score has stayed the same or gone down but you have made 12 on time payments the rate will stay the same.
  3. After 24 on-time payments you will be given a $50 gift card.

Family First is always excited when members reach the goals set in this program. If you or someone you know could benefit from this program, come visit us at Family First or give us a call at 585.586.8225. We are excited to help you get established with some credit!