1st Time Borrower Auto Loans

It can be a challenge to get approved for vehicle financing at a good interest rate when you haven’t got previous financing history in your credit record. Typically, you will only be approved if an experienced borrower with good credit is willing to co-sign for your loan. 

Community Credit Union has a solution: Our exclusive First Time Borrowers Auto Loan. 

This CCU loan program is for members who have not established credit, and do not have negative credit.  It is intended to provide a qualified CCU member the opportunity to borrow at a lower interest rate than is typically offered to an individual without established credit without the requirement for a co-signer. 

General requirements are listed below.   Requirements may vary based on your situation:

  • Must be age 18 or older
  • Have an active CCU Debit/Checking account for at least 6 months with no ODP or NSF (Insufficient Funds) activity. 
  • Minimum employment of six months (may be waived for college graduates and holders of professional trade certifications) 
  • A down payment of at least 5% of the purchase price is required (10% for loans over $5,000)
  • Must complete at least 3 online modules related to credit and money management. CCU will provide course information when you apply.
  • Establish a savings plan equal to 5% of the payment amount
  • CCU's normal vehicle insurance requirements will apply.

How Does it Work?

1. Apply:

In Person:
Stop by one of our seven branch locations.  Our Rockledge and Palm Bay branches are open Saturdays from 9 am to noon.

By Phone:
Speak to a Member Service Lender:  321.637.3211 (outside Brevard, 1.800.690.2338)
Existing CCU Members:  Use the Mobile App or log in to eBranch Online Banking and your personal information will be pre-filled for you.  Or, you may use the application found by selecting the "Join Online" link below, but you will be asked to provide your personal information, including your Member Number.
Mobile App:  Go to More and select Apply for a Loan.
eBranch Online Banking:  Select the Online Application link at the upper right of the screen.
Prospective CCU Members:  Select the icon below. Leave the Member Number field blank.

Graphic link to apply online | CCU of FL

2. Complete your online courses
Your Member Service Lender will provide your course names and links. These courses are brief and very informative.

3. Get started on building your good credit history
Make your card and/or auto loan payments on time and you’ll be on the way to building a strong credit score. 

Plan for Success:
Not ready to purchase a vehicle just yet?  Get a head start: