Generations Federal Credit Union is hoping to help first-time car buyers who may be intimidated about the shopping and financing process.
The $400 million cooperative in San Antonio has launched its Your Ride, Your Rules program for members buying a car for the first time.
Applicants do not need a two-year employment history and do not need a co-signer for the loan, according to Generations FCU. First-time buyers cannot have derogatory history and their payments cannot exceed 20% of monthly gross income. The loan maximum is $25,000 and the term is for 48 months.
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