SERVICE BENEFITS
Low Monthly Payments
No Co-Signer or Down Payment Required
$250
Cashback
No Payments Required Up to 45 Days
Same Rates as Other Buyers
How Does My First Auto Work?
Helping Young Drivers Buy Their First Car
Young drivers often face significant barriers when purchasing their first car, such as needing a co-signer, being too young, high down payments, and limited credit history.
Our My First Auto Loan program eliminates these obstacles by providing secured loans with no need for a co-signer or down payment. This makes it easier for young adults to obtain financing, start building their credit history, and enjoy the freedom and convenience of owning a car.
Financing a car is EZ with My First Auto Loan!
"Big W and EZ and I like my skip a pay when I need Xtra cash"
- Nicholas Allen, 19
- Diane Pereyra, 22
"I like the fact that I got a low interest rate"
APR=Annual Percentage Rate. Beacon Federal Credit Union is federally insured by the National Credit Union Administration (NCUA) and is an Equal Opportunity Lender. Membership is required. The rate and amount of loan are based on the applicant's creditworthiness; some restrictions may apply and subject to Beacon FCU's underwriting guidelines. Rates can vary without previous notice.
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1. Apply for the loan
No cosigner or down payment required. Must be a member, if not you must open an account
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2. Bring identification
And secondary form of identification, as well as pay stubs (6 months at current employer required)
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3. Receive approval
Even if you have no credit, that’s fine we will help you as long as do not have any derogatory credit
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4. Start your journey
With your first car!
A Loan Built For
Your First Ride.
My First Auto Loan - Our loan program for young drivers offers unsecured, quick funding to help you purchase your first car.
With affordable rates and friendly repayment plans, we make the car-buying process easy and memorable. Including cashback, no co-signer needed, affordable monthly payments, and more!