First Time Auto Buyer

You’ve FoFirst Time Car Buyerund Your Car – We’ll Help with the Financing
Cornerstone offers a unique program designed for members who have little or no credit established and want to purchase their first auto.

Financing up to 90%, including Gap, warranty, tax, title and tags, will help put you in the driver’s seat. Repayment terms are offered for up to seven years (84 months), depending on the age of the vehicle.


Program Qualifications

  • Never financed a vehicle before
  • No open or unpaid collection accounts, judgments or public records
  • Minimum down payment of 10%
  • Minimum of 12 months of continuous full-time employment with no breaks
  • Debt to income ratio not to exceed 25% after the new loan
  • Must be at least 18 years of age
  • Funds to be used for auto purchase only
  • Borrowers with a credit score will receive interest rate corresponding to that score
  • If credit report/score indicates current or past delinquency problems, a co-borrower or guarantor may be required
  • Other Loan Policy Guidelines may apply

For more details on this unique program, please contact our lending department.

Pre-Approval Certificate
With our pre-approved auto loan, you’ll know how much you can afford before you even enter the dealership. The pre-approval process is easy. Simply complete an application with an anticipated dollar amount and our loan officers will determine if you qualify for the amount requested. They will also let you know if you qualify for more money. You”ll receive a pre-approval certificate to take with you when you buy your car. Simply call the credit union when you’re ready to close the deal and we’ll transfer the funds into your checking account so you can write a check for the amount of the purchase! By showing your certificate, the dealer will know in advance just how much you can afford and won’t be able to talk you into something more expensive. Plus, it will give you bargaining power during price negotiations.

We recommend you check the selling price of the vehicle you’re interested in purchasing so that you have a good idea as to whether the dealer asking price is within reason and is close to what you’re willing to pay.

Kelley Blue Book 

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