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First Time Car Buyer Loan

A Smarter Start to Your First Car

From your first set of keys to your first monthly payment, Allegiance Credit Union has a First Time Car Buyer Loan built for Oklahoma drivers looking for a balanced budget.

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First time car buyer loan approval celebrationg in process by a young woman in a teal shirt on top of her new car.

Start Your First Time Car Buyer Loan Application Today

First Time Car Buyer Rates

2021 & Newer

Term
APR* (as low as)
Up to 60 Months
14.49%
61 -72 Months
14.99%
Effective Date April 27, 2026

*APR = Annual Percentage Rate. As low as rate includes 0.50% discount for automatic payments. Rates and terms subject to LTV, mileage, credit score, and model year restrictions.

A Strong Start, Built Around You

First Time Car Buyer Loan Features

Buying your first vehicle is a big step, and Allegiance designed this program to make it feel within reach. For drivers across Oklahoma, it offers flexible guidelines and fewer traditional barriers so you can move forward with confidence while building credit along the way.

Young girls driving away after a first time car buyer loan approval came through.

NO MIN. CREDIT SCORE

Forget credit score requirements with Allegiance's First Time Car Buyer Loan!

BUDGET FRIENDLY

Borrow up to $25,000 with terms up to 72 months for affordable monthly payments.

LOW DOWN PAYMENT

Apply today and drive away with as little as $500 down or $500 in positive trade equity.

DISCOUNTED RATES

Stated rates include a 0.50% discount for setting up auto payments!

Calculate Your Car Loan Payment

First Time Car Buyer Loan Calculator

Are you a first time car buyer in Oklahoma shopping for your first car or truck? Use this car loan calculator to create an affordable payment that fits within your budget. Adjust loan amounts, rates, and terms to find a monthly payment that works for you.

*Your actual term and payment will be provided upon acceptance of an Allegiance Credit Union loan. This calculator is for informational purposes only and its use does not guarantee an extension of credit.

auto loan calculator
Young asian man standing by his new car purchased with a first time car buyer loan from Allegiance.

Your Path to Independence Starts Here

Curious How First Time Car Buyer Programs Work?

Buying your first vehicle is a major milestone. Our program removes many obstacles and gives members a strong opportunity to establish a positive credit history.

  • No minimum credit score requirement
  • Designed for borrowers with no auto loan history
  • Borrow up to $25,000 up to 72 months
  • Maximum Loan-to-Value (LTV): 95%
  • Rates based on loan term, not credit score
  • Employment history of 12 months between the last two employers is required

Call our loan officers directly at (405)789-7900, Option 2 or email clo@acuok.org to learn more about our first-time car buyer program.

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Get $250 When You Finance Your Car Loan

Enjoy an extra $250* when you finance a new First Time Car Buyer Loan with us! Fill out our quick form to claim your coupon!

New Website Allegiance Coupon (600 x 400 px) (5)

*Loan subject to approval. Minimum loan amount $20,000. Must mention coupon to loan officer. $250 cash bonus will be deposited into member’s account at the time of closing. Does not apply to internal refinances. Promotion starts January 22, 2024 and may expire at any time without notice.

First time car buyer loan applications are simple to complete shown by this african american young man on his laptop.

No Credit Score? No Problem

Why a First Time Car Buyer Program With No Credit History Matters

At Allegiance Credit Union, we believe your first car loan shouldn’t depend on a long credit history; it should depend on your potential. That’s why our First Time Car Buyer Loan program is designed for members in the OKC community who are just getting started. From application to approval, we’re here to help you feel confident every step of the way.

We’re here to support you, one milestone, one payment, and one win at a time.

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Download Your Free Copy!

Car Loans 101: Car Buying Made Easy

Buying a car is a major financial decision. As you head into the dealership to start shopping for a car, make sure you do your homework. Take some time to read this guide to learn what you need to know about cars and car loans.

Allegiance Credit Union Car Loans 101 eBook Guide Cover
African american young woman driving a car.

Know Before You Shop

Get Pre-Approved For Your First Time Car Buyer Loan

Ready to turn the idea of your first car into reality? Get pre-approved for a First Time Car Buyer Loan with Allegiance Credit Union so you can understand your budget before you start shopping.

Pre-approval helps you shop within your means, compare options more effectively, and avoid surprises along the way. It can also give you stronger negotiating power and speed up the purchase process since your financing is already in place. Get started today and take the next step toward your first vehicle.

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Dream Car, Delivered

AutoSMART Car Search: Your Car-Buying Assistant

As a first-time car buyer, finding the right vehicle can feel overwhelming, but AutoSMART makes it simple. Explore new and used cars or trucks by make, model, type, or location, helping you narrow down options that fit both your needs and your budget.

Once you find a car that feels like the right fit, you can apply for an Allegiance First Time Car Buyer Loan online and move forward with fast, flexible financing. Start your first car search today and take the next step toward achieving your goal.

Find the Right Car

Search our inventory

Meet Your Auto Loan Team

taylor-mccarroll-headshot

Micheala Goines

Mortgage Loan Officer
NMLS #1663406
taylor-mccarroll-headshot

Taylor McCarroll

Mortgage Loan Officer
NMLS #2484009
taylor-mccarroll-headshot

Chrissy Wood

Mortgage Loan Officer
NMLS #470059
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What Our Members
Are Saying

“I’m on my third auto loan through Allegiance Credit Union; I have yet to have a negative experience at this branch.”

Mitch A.

“Every employee I spoke with was genuinely helpful, pleasant, and made for a wonderful experience!”

Melissa T.

First Time Car Buyer Loan Protection Options For Your First Ride 

Gain financial security and extra assurance that you and your finances are covered from life’s unexpected turns with affordable Auto Loan protection options from Allegiance Credit Union.

Customized Car Insurance

Are you a first time car buyer looking for insurance? Our partnership with MemberHaven Insurance has you covered. We offer customizable coverage that meets all state requirements and can be bundled with other policies for additional savings.

Whether you need collision, comprehensive, or uninsured motorist protection, our tailored solutions ensure you are covered. Drive confidently, knowing you have the right insurance at a competitive price. 

Coverage Options

What Is GAP Insurance?

If you’re purchasing a new car you might want to consider Guaranteed Asset Protection (GAP) Coverage. This optional coverage helps pay off your Auto Loan if your car or truck is totaled or stolen and you owe more than the car’s worth.

Another huge benefit is that if you use our coverage, the GAP company will pay $1,000 towards your next auto loan if financed through Allegiance Credit Union.

Coverage Options

Mechanical Breakdown Coverage

Protect your ride with our Route 66 Extended Warranty—comprehensive mechanical breakdown coverage that goes the extra mile. Enjoy zero deductibles, the freedom to choose any licensed mechanic, and rental car assistance when needed.

Even the most dependable vehicles can hit a bump in the road, but with our coverage, you’ll have true peace of mind wherever you go.

Coverage Options

Payment Protection

Add peace of mind to your loan with Payment Protection from Allegiance Credit Union. This optional coverage helps safeguard your payments in the event of unexpected life changes, like disability, unemployment, or loss of life. It’s available for a low monthly premium that is conveniently added to your loan.

Coverage kicks in when you need it most, helping to protect your credit and ease financial stress. With Payment Protection, you can focus on recovery, not repayment.

Coverage Options

  • Customized Car Insurance

    Are you a first time car buyer looking for insurance? Our partnership with MemberHaven Insurance has you covered. We offer customizable coverage that meets all state requirements and can be bundled with other policies for additional savings.

    Whether you need collision, comprehensive, or uninsured motorist protection, our tailored solutions ensure you are covered. Drive confidently, knowing you have the right insurance at a competitive price. 

    Coverage Options

Customized Car Insurance

Are you a first time car buyer looking for insurance? Our partnership with MemberHaven Insurance has you covered. We offer customizable coverage that meets all state requirements and can be bundled with other policies for additional savings.

Whether you need collision, comprehensive, or uninsured motorist protection, our tailored solutions ensure you are covered. Drive confidently, knowing you have the right insurance at a competitive price. 

Coverage Options

Additional Resources

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Frequently Asked Auto Loan Questions

Do I need to get pre-approved before going to the dealership?

It’s not required, but suggested so that you’ll have extra bargaining power at the dealership and help streamline the buying process. Knowing how much you’re approved for ahead of time also helps you stick within your budget.

Do you finance Auto Loans outside of Oklahoma?

Yes, as long as you are an Allegiance member or qualify for membership, we will be happy to help you purchase an automobile located in a state outside of Oklahoma.

Can I get a loan on a vehicle with a rebuilt title?

Allegiance Credit Union will finance vehicles with “rebuilt” titles.  Restrictions do apply though, so please call us at 405-789-7900, option 3 to speak with a loan officer. 

What are the proof of insurance requirements?

We require a current insurance declarations page showing the following information:

  • A loss payable clause with the loss payee/lienholder listed as: Allegiance Credit Union.
  • A full collateral description, including the Vehicle Identification Number (VIN).
  • Comprehensive and collision coverage with a deductible that does not exceed $1,000.00.
  • The effective and expiration dates of the policy period.

Please note, insurance ID cards are not acceptable as proof of insurance.

How do I share the proof of insurance documents?

You can send this information in the following ways:
 

Can I get a loan on a vehicle with a salvaged title?

ACU will not finance vehicles with “salvage” or “lemon law buyback” titles as collateral.