First Time Buyer Program

The road to solid credit starts with your first car.

Financing your first set of wheels not only gets you moving, it’s also a smart way to start building credit. With low rates, flexible repayment terms, and a low down payment, our First-Time Buyer Loan will make it as affordable as possible for you to buy your car – You could possibly even qualify for a Patelco credit card!

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Have your car in as little as 48 hours!

Get pre-approved now and go to a dealership or private party ready to buy. Or use the free Patelco Auto Buying Service, and we’ll find your car, do all the negotiating for you, and in most cases deliver it right to you within 48 hours, paperwork in hand.2 With over 25 years of industry experience, our auto buying experts can give you advice, work with dealers directly on your behalf, and more. Or if you’d prefer to find it yourself, we’re happy to help every step of the way.

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Why Patelco’s First Time Buyer Loan Loan Requirements:
  • Ideal way to establish credit
  • Flexible repayment terms
  • Low down payment
  • Free Auto Buying Service
  • Free online search and research tools through AutoSMART

The amount of your loan will be based on your annual income, credit history and other factors. A qualified co-signer may be needed. Some requirements include:

  • Driver’s license
  • Proof of auto insurance coverage
  • Proof of income
    The AutoSMART links on this page will cause you to leave the Patelco Credit Union website. Although Patelco works closely with many partners, third-party sites may offer a different privacy policy and level of security. Please consult the website's Privacy Policy for additional information. Patelco Credit Union does not legally represent the operator of this site or the Patelco member, should the two enter into a transaction. We are also not legally responsible for availability, viewpoints, products, or services offered or expressed on the site you are about to visit.

  1. APR (Annual Percentage Rate). Auto rates as low as 1.99% APR (floor rate) effective 3/31/2015 require Automatic Transfer Payment from a Patelco Checking Account, otherwise rate is .50% (50 basis points) higher; subject to change without notice. Patelco offers a range of base rates and discounts that depend on factors such as credit history, loan term, purchase channel, Patelco account and loan balances, program designation, vehicle age, and payment type. Actual rates are disclosed to approved applicants in writing prior to loan consummation and may be as high as 12.99% APR. Regardless of discount qualifications, no approved applicant’s rate will be lower than the then-current floor rate. To learn more about rates, terms and available discounts, call 800.358.8228, visit, or visit any Patelco branch. Loan payment example: $14.75 per month for each $1,000 borrowed at 1.99% APR for 72 months.
  2. Patelco Auto Buying Service provided by Member’s Advantage Plus, a California licensed dealer. Available for California residents only. All new cars arranged for sale are subject to price and availability from the selling franchised new car dealer. Standard credit guidelines apply for lending.