ALERT: Family First has recently been made aware of a scam spoofing both our 585.586.8225 and 1.800.356.1101 phone numbers. Please exercise caution if you receive a phone call claiming to be from our Fraud Department. Learn more here.

All Family First branches and the call center will be closed on Wednesday, June 19 for Juneteenth. We hope you have a safe and enjoyable holiday.

The Penfield branch parking lot will have limited access due to sealing beginning Saturday, June 1 at 1:00 pm. It will be fully reopened the morning of Monday, June 3.

Auto Equity Loan

Tap into your vehicle’s equity today and get cash out for whatever you need this summer! Whether you’re preparing for your next vacation, paying for unexpected vet bills, or just need emergency funds, this unique product allows you take cash out for whatever your needs may be with a lower interest rate than the typical personal loan.

Loan applications are subject to membership eligibility requirements.

What IS an Auto Equity Loan?

An auto equity loan is a secured loan based on the value of the vehicle you own. You can determine how much equity you have by finding the difference between the vehicles value and the amount still owed on your auto loan. Did you make a down payment when you purchased your vehicle? Or maybe you’ve been paying extra each month to pay off the loan sooner? Chances are you have equity in your vehicle! 

By using your vehicle as collateral, you can borrow money at a much lower interest rate than a personal loan. Rates are determined on your credit score and the year/make/model of the vehicle. Whether your auto loan is here at Family First, or at another institution, you could be eligible for this product! 

Frequently Asked Questions:

Q: How much can I borrow with an auto equity loan?

A: 100% of the vehicles value.

Q: What can I use the funds for?

A: Anything! There are no restrictions on what you can do with the funds borrowed. 

Q: Am I eligible for an auto equity loan?

A: If you own your vehicle (meaning you purchased it and your name is on the title), you could be eligible for this product – even if you’re still paying it off! Qualifying vehicles must be 2011 or newer. 

Q: What if my auto loan is at another bank?

A: Easy! At the time of closing, we cut a check to the other financial institution for the final payoff amount. The excess funds are given straight to you at that time. We can even set you up with automatic payments so you don’t have to worry about missing your future payments. 

Still have questions? Call or text us today at 585.586.8225 or email us at [email protected] to speak to one of our representatives and find out if this product is right for you! 

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