My First Ride Program

Buying your first car is an exciting ride. And when it comes to financing, see how the My First Ride Program can not only get you the car you want, but also help build up your credit and put you on the road to future financial success.

Get Started

$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.

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
Apply Now

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.

Talk to a Lender

My First Ride FAQ

How old do I need to be for a car loan?

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

How to get approved for your first car loan?

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.

What credit score do you need to be approved for most car loans?

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.

Is it a good idea to finance your first car?

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.

What is a good credit score for a first-time car buyer?

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.

Can I get a loan for my first car?

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

Does my first car need to be new?

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.