Financing Your First Vehicle? Start Here.
If you have never financed a vehicle before, you may not have an established auto-loan history yet. That does not mean you have to figure out the process on your own.
Peters Auto Mall works with multiple financing sources and can help first-time buyers in High Point understand the next steps, explore available options and shop for a vehicle that fits their needs and budget.
- First-time-buyer situations may be considered by participating lenders
- Multiple financing sources
- Online pre-approval and full credit application available
- $0 dealer doc fee
- Trade-ins welcome when applicable
Have Questions Before You Apply?
Not sure whether to start with financing or a vehicle? Wondering what information you may need or what your next step should be?
Tell us how to reach you and what you need help with.
For an actual financing review, use the online pre-approval or full credit application below.
How Should a First-Time Buyer Start?
You do not have to do everything at once. A simple way to get started is:
- Start with online pre-approval if you want a quick first step.
- Shop current inventory for a vehicle that fits your needs and budget.
- Complete the full credit application when you are ready for a financing review.
- Provide any additional information requested by the participating lender.
Complete a Full Credit Application
Available financing and terms depend on the individual application, vehicle and lender requirements.
What Can Help When You Are Financing Your First Vehicle?
Not having a previous auto loan is only one part of the picture. Participating lenders may consider different information when reviewing an application.
It helps to provide accurate information about your identity, residence, employment and income. The vehicle you choose, a possible down payment or trade, and whether a co-buyer is appropriate may also affect the available options.
The goal is not simply to find a vehicle you like. It is to find a vehicle and financing arrangement that make sense together.
Shop Vehicles That Fit Your Needs
Your first financed vehicle does not have to be a certain type of car. Start with what you actually need for work, school, family or everyday driving and what makes sense for your budget.
Our inventory changes regularly, so use the live inventory to see what Peters Auto Mall has available now.
Used Cars | Used SUVs | Used Trucks | Used Vans
No Established Credit Is Not the Same as Bad Credit
If your main concern is that you have little or no established auto-credit history, that is different from having previous credit problems.
If repossessions, bankruptcy, collections or other past credit challenges are the bigger issue, use our separate High Point credit-challenges page for information that better matches your situation.
Financing With Credit Challenges in High Point
Have a Vehicle to Trade?
If you already own a vehicle, it may be part of your next purchase. You can start with its value online, including when there is still an existing loan on the vehicle.
First-Time Buyer Questions
Can I apply without having a previous car loan?
Yes. You can submit a financing application even if you have never financed a vehicle before. Participating lenders have different requirements and consider the full application.
Do I need a co-buyer or a down payment?
Not necessarily. Whether a co-buyer or down payment is needed depends on the individual application, vehicle and lender requirements.
Should I get pre-approved before choosing a vehicle?
You can start either way, but pre-approval can give you a better understanding of the financing side before you spend too much time shopping vehicles that may not fit your situation.
First-Time Buyer Help in High Point
You can start online before visiting either Peters Auto Mall location.
Peters Auto Mall
2857 S Main St
High Point, NC 27263
336-781-2892
Peters Auto Mall North High Point
3037 N Main St, Suite 1
High Point, NC 27265
336-791-4664