Co-Signer and First-Time Car Buyer Program

Our Co-Signer and First-Time Car Buyer Program are excellent options for someone who has little-to-no credit and would like to build their credit. Our team of lenders are ready to help you get behind the wheel and be a car owner.

Get Started
Jump to:
Side view of a car

Co-Signer and First-Time Car Buyer Program

Let's Help You Control Your Finances and the Road!

At any stage of life, buying your first car can be overwhelming. That’s why AMOCO is here to help you on your journey from your first car to your last car. Both Auto Loan options are great for someone who has little-to-no credit and feels like their financing options are limited. We are here to help you avoid the roadblocks and get you on the road and to build your credit!

Benefits:

  • No credit history required/ Or use a co-signers credit score
  • A great way to build your credit
  • Borrow up to $20,000
  • Borrow from trusted lenders
  • Terms up to 84 months

What Factors into Getting Approved?

There are many factors that AMOCO and other financial institutions look for before approving a loan. While the factors below aren’t all required, all are considered when making a decision. The best part about financing with AMOCO? We are here every step of your financial journey, and our trusted lenders will work with your particular situation to help get you to your goal of being a car owner.

Factors we Consider:

  • Minimum $1,000 down payment
  • Monthly income
  • Payment-to-income ratio
  • Debt-to-income ratio
  • Other factors may apply

What is Payment-to-Income or PTI? It is a calculation used by lenders to help determine your eligibility to finance a vehicle. Your PTI is determined by dividing the anticipated monthly payment by the gross monthly income (the amount you earn before anything is taking out). For the First Time Car Buyer Program, AMOCO is looking for a PTI of 18%. 

What is Debt-to-Income or DTI? The percentage of your gross monthly income (the amount you earn before anything is taken out) that goes to paying your monthly debt payments (existing loans, rent, etc.). For the First Time Car Buyer Program, AMOCO is looking for a maximum DTI of 45%.

Our team of lenders are ready when you are! To apply, click Get Started. If you still have questions, want to know more about your situation, click Need More Information.

Get Started
Need More Information
Buy a Car

Traditional Car Buying

Endless Possibilities.

If traditional car buying is your preferred choice, you can save time and money by using our Member Auto Center (MAC) co-branded website. Through this website, you can start your search for a new or used auto at more than 100 local area dealerships. You can also get pre-approved for AMOCO financing, get vehicle values, and car buying advice.

  • Make an appointment with the Credit Union Fleet/Sales Representative and let them know you are using AMOCO financing.
  • After you select a car and agree on the price, the dealership finance department will communicate with our lending team to process your loan request.

AMOCO is also partnered with Enterprise Car Sales! We are bringing you haggle-free buying and worry-free ownership. Choose from a fleet of over 1 million used vehicles backed by one of the industry’s best warranties.

Store front

Direct Dealership

One-stop Shopping.

We know how much work it can be to purchase and finance a new or used auto. That’s why we’ve simplified the process by partnering with local dealers to offer AMOCO financing at the dealership. This program offers you the convenience of getting your financing from AMOCO and saves you time by not having to make any trips to the credit union. Here’s how it works.

  • Make an appointment with the Credit Union Fleet/Sales Representative and let them know you are using AMOCO financing.
  • After you select a car and agree on the price, the dealership finance department will communicate with our lending team to process your loan request.
Supplemental Auto Insurance Protect Your Car From The Unexpected

Supplemental Auto Protection

Protect Your Car From The Unexpected.

Purchasing a new vehicle is such an exciting time. When you purchase a vehicle, you know you need auto insurance, but you may not think of other great options that will really help you if your car is in an accident, totaled, or if it breaks down. AMOCO has you covered with great supplemental plans including:

  • Guaranteed Auto Protection (GAP) - for only $495 this insurance pays the difference on your car’s value versus what you owe if your car is stolen or totaled. This product alone saved members thousands of dollars after Hurricane Harvey. To purchase GAP give us call or visit a loan representative.
  • Extended Warranty Plans - there are many good reasons to purchase an extended warranty for your vehicle. For just pennies a day, we can help you protect your auto from unexpected repair costs. Get a quote for an Extended Vehicle Service Contract.