First Time Buyer Auto Loan

We Make Buying Your First Car Easy

Start cruising with a First Time Auto Buyer Loan

Ready to buy your first car? With a First Time Auto Buyer Loan, you can conquer this milestone with ease. This loan is designed to help those with little or no credit navigate the car-buying experience. Get your new vehicle, grow your credit, and have a partner with you every step of the way.

Ready to begin?

How to Qualify

  • Verification of Income
    • Minimum 12 months employment with the same employer
    • 2 most recent paystubs
    • Previous year's W-2
  • 2 Credit references
  • At least one tradeline paid as agreed for 12 months
  • No negative tradelines on credit report
  • Must complete Zogo First Time Buyer Course Curriculum


You are a first-time buyer if you do not have any current or prior vehicle tradelines on your credit report.
The maximum amount you can borrow is $25,000. The maximum term is 60 months for loans up to $10,000 and 72 months for loans up to $25,000.
There is a minimum of $1,000 cash down required.
Zogo is a free app that rewards you for completing bite-sized financial education modules. By answering questions correctly, you earn pineapples, which can be redeemed for gift cards to your favorite stores. By completing the First Time Buyer module, you can prepare for getting your first auto loan and earn rewards along the way!
If you are thinking about purchasing a new car, you can apply to get pre-approved for an auto loan prior to going to the dealership. With a credit check for the process, you will have an idea of what rates to terms and rates to expect with a specific lender. You can fill out an auto loan application with Texas Bay Credit Union by clicking here.

In a secured auto loan, the lender of the auto loan puts a lien on the vehicle that is being purchased. There are other types of secured auto loans where a lien is put on a house or another vehicle you possess. The lien allows the benefit of lower finance charges and overall lower loan costs.  If payments are not made by the borrower, the lender may repossess and sell the asset to recover money to pay off the loan balance.

An unsecured auto loan is not tied to any asset. The money acquired for an unsecured auto loan has no restrictions on how you use the money. If payments are not made, the lender has to pursue payment from the borrower through other legal means. Typically, unsecured auto loans come with higher fees and interest rates. Texas Bay Credit Union does not offer unsecured auto loans.

To apply for an auto loan from Texas Bay Credit Union you must:

  • be 18 years old
  • provide your social security number or individual tax identification number
  • provide a valid Driver’s License, State ID, or passport
No, there is no penalty for paying off your auto loan early.
A Texas Bay Credit Union first time auto buyer loan is designed to help those with little or no credit to navigate the car buying experience. Visit our website for more information.

Interest rates at Texas Bay Credit Union are based on the term of the loan, the amount of the loan, employment history, the member’s credit score, and other factors. To get your personal interest rate for this loan, please contact Texas Bay at (713) 538-1329.

Find Your First Car

Not sure where to start looking for your vehicle? With our Find a Car feature, you can search vehicles from preferred dealers to get you the best price possible. Find your ride without leaving the comfort of home and without the tracking cookies. Plus, auto loan members receive a free myEZ Car Care Membership to save you money on auto service and travel.

You Have Your New Ride. Now Protect It!

Texas Bay's Insurance Group works with a wide range of A rated carriers so you can get the type and amount of coverage that fits you. Their experienced Insurance Representatives can help you find the policy that meets your specific needs at a price you can afford.

Want a more detailed view of your loan?

Vehicle age, mileage, and LTV restrictions may apply. Membership eligibility required. Relationship Product Discounts lower your rate up to a .50% reduction from the standard rate. The standard rate is based on your credit at the time of application. Discounts per product vary. A combination of products reach up to .50% rate reduction.