My First Ride Program

Buying your first car is an exciting ride. See how the My First Ride Program can help you get the car you want, build up your credit, and get you on the road to future financial success.

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$500 Down Payment

My First Ride requires only a $500 minimum down payment.

Ages 18 and Up

Applicants must be ages 18 years or older to apply for the program.

$20,000 & Under

Vehicles must be $20,000 and under to be eligible for the My First Ride loan.

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What's Next? Get Started.

Whether you already found the perfect car or want to get preapproved before shopping, you can apply for the My First Ride Program. You’ll need to gather your ID, recent pay stubs and insurance forms or get started online here.

Qualifying for the My First Ride loan requires:


Borrower Requirements
  • Must be at least 18 years old
  • Must be employed for a minimum of one (1) year
  • Proof of gross monthly income of at least $1,500
    •  Monthly payment not to exceed 15% of gross income
  • Minimum $500 down payment
  • Must present proof of auto insurance

Vehicle Requirements
  • Vehicle must be $20,000 or under
  • Vehicle must be no more than 7 years old
  • Vehicle must have fewer than 80,000 miles

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What Do You Need to Apply?

  • Identification

    Bring your government-issued ID and social security number.

  • Proof Of Income

    Have proof of employment (a recent pay stub, W2 or tax returns).

  • Policy

    Bring your auto insurance declaration page (a summary of your auto insurance policy).

Why BayFirst?

At BayFirst, we’re here for all your firsts in life. Your first car is no different. From filling out applications to comparing loans, we’ll help you navigate the process to make sure you’re not only getting the best rate possible, but also that you avoid any unnecessary roadblocks. Start working with one of our lenders and we’ll help you make the right turns.

Let’s get the show on the road.

Have Questions?

My First Ride FAQ

You must be 18 years old to qualify for the BayFirst My First Ride program.

Once you apply, your lender will consider a number of factors including your employment history, debt to income ratio and credit score to determine your loan conditions.

The better your credit score, the better your loan rates will typically be. However, Programs like My First Ride are designed for first-time car purchasers who may not have an established credit history. These programs can sometimes also help those with bad credit obtain a car loan.

If you cannot buy your car outright, financing is a great idea – as long as your payments are manageable. Your BayFirst lender can help you determine this.

Ideally, a credit score of 650 or higher is considered a good credit score, but the My First Ride Program is designed for those who may not have a strong credit history and therefore might have a lower score.

Yes, the My First Ride Program is specifically designed for first-time auto purchasers.
 

You can get a My First Ride Program loan on new or used cars as long as the used car and loan amount fall within the loan’s requirements.
BayFirst Home Equity Line of Credit/Consumer products are offered only to customers who maintain their primary deposit and banking relationship with BayFirst. Applicants may be required to establish or maintain qualifying deposit accounts as a condition of eligibility. All loans are subject to credit approval, underwriting standards, collateral requirements, and other applicable terms and conditions. BayFirst reserves the right to modify or discontinue this program at any time. BayFirst determines, in its sole discretion, whether an applicant maintains a primary banking relationship with the Bank. Additional restrictions and eligibility requirements may apply.