First-Time Auto Buyer Program
There’s a first time for everything and a first car for everyone!
We have a special program just for first-time car buyers age 18 to 25! Fewer restrictions for limited credit history. And more opportunities, like special first-time buyer rate discounts! Here’s what you really need to know:
The Details
Low monthly payments
Loans designed to keep your monthly payments manageable.
Flexible financing up to 100%
First-Time Buyers can borrow up to $25,000, with terms up to 72 months.
Current Rates
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TERM |
APR* AS LOW AS |
|---|---|
|
NEW Cars, Trucks, & SUVs | 2023-2024 | mileage up to 5k *APR is Annual Percentage Rate. Loan approval, term and rate are based on a verification of income and an evaluation of your creditworthiness and collateral. As low as rate includes maximum rate discount of 0.75%. |
|
|
TERM 24 months |
APR* AS LOW AS 5.50% |
|
TERM 36 months |
APR* AS LOW AS 5.50% |
|
TERM 48 months |
APR* AS LOW AS 5.50% |
|
TERM 60 months |
APR* AS LOW AS 5.75% |
|
TERM 72 months |
APR* AS LOW AS 6.25% |
|
TERM |
APR* AS LOW AS |
|---|---|
|
USED Cars, Trucks, & SUVs | 2014-2023 | mileage up to 150k *APR is Annual Percentage Rate. Loan approval, term and rate are based on a verification of income and an evaluation of your creditworthiness and collateral. As low as rate includes maximum rate discount of 0.75%.
|
|
|
TERM 24 months |
APR* AS LOW AS 6.50% |
|
TERM 36 months |
APR* AS LOW AS 6.50% |
|
TERM 48 months |
APR* AS LOW AS 6.50% |
|
TERM 60 months |
APR* AS LOW AS 6.50% |
|
TERM 72 months |
APR* AS LOW AS 6.75% |
Ways to pay your loan
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Automatic Transfers
Automatic transfer allows you to make loan payments on a recurring schedule, from a UMe account or most any other financial institution.
To set up an automatic transfer, fill out our Share to Loan Transfer Form or give us a call at (818) 238-2900.
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Payroll Deduction
If you have a loan with the credit union, payroll deduction is a convenient way to have your loan payments automatically deducted from your paycheck.
To find out if you’re eligible for payroll deduction, contact your employer’s benefits department. If you already have payroll deduction set up with the credit union and want to set up automatic loan payments, call us at (818) 238-2900.
Auto Loan FAQs
We make it super duper easy to apply for a loan! At UMe, you can apply online 24/7, visit us, or give us a call at (818) 238-2900.
First-Time Buyers ages 18-25 can borrow up to $25,000 with UMe. We offer 100% financing and terms up to 72 months.
Yes, we require full coverage insurance for UMe First-Time Buyer loans.
GAP stands for Guaranteed Asset Protection and pays the difference between what you owe and what your insurance company will pay — filling the gap!
When you purchase a vehicle, it depreciates the moment you drive it away. So, if your vehicle is stolen, or totaled in an accident, you could end up owing more than the vehicle is worth. GAP Insurance coverage is designed to pay the difference between the insurance settlement and the loan balance, so you don’t owe money for a vehicle you no longer have.
To make things super simple and stress-free, we will make sure you get all the extra info you need before you start paying for any GAP insurance coverage. Plus, you can cancel GAP at any time. If you cancel your GAP within 90 days, you can get a full refund.
Mechanical Repair Coverage protects you against the costly out-of-pocket expenses associated with vehicle repairs extending beyond the manufacturer’s standard warranty.
Visit our MRC page for all the details.
Apply for an auto loan
Disclosures
NOTE: First-Time Buyer means never having a vehicle loan and must be age 18-25. We only finance through franchise dealers, private parties, and a select group of non-franchise dealers, including AutoWorkz, Autoland, CarMax, Empower Group, Enterprise, IMX Auto Sales & Leasing, MDK International, and Radical Auto.