First Commonwealth Federal Credit Union
Forbes 2020 Best in State credit unions

First-Time Auto Buying Program

No credit history? No problem! Eligible members can take advantage of our first-time auto buying program.

Benefits include:

  • No co-borrower required
  • Rate discount of 0.50% if you (borrower) complete the online GreenPath™ course, “Budgeting Basics”
  • $25 deposit to member’s savings account after six months of on-time payments*
  • Up to 1.00% rate reduction after 12 months of on-time payments* - you may qualify to refinance at an even lower rate!
  • No payments for 60 days

Program Criteria

  • Must be 18 or older
  • Proof of income required; maximum debt-to-income (DTI) ratio of 40%
  • Four months at current employer required
  • Proof of insurance required upfront
  • No derogatory information on credit report
  • Direct auto loans through the credit union only (loans applied for at a dealership are not eligible)

Apply Now

*Member will receive a letter after making six months and 12 months of on-time payments, acknowledging eligibility for $25 deposit or rate reduction. Member must respond to claim the rewards. Please email proof of Budgeting Basics course completion to loanservicing@firstcomcu.org.