First-Time Car Buyer Program in High Point, NC
Never financed a vehicle before? Peters Auto Mall works with first-time buyers and customers with little or no established auto-loan history and can help you understand how the process works.
Everybody Has to Start Somewhere
Not having a previous car loan does not mean you should assume you cannot finance a vehicle.
Peters Auto Mall works with multiple financing sources and also offers Buy Here Pay Here options. That gives our team more than one path to explore with first-time buyers and customers who are just beginning to establish auto credit.
You can begin the process even if you have never financed a vehicle before.
We work with multiple outside financing sources rather than limiting every customer to one option.
Peters Auto Mall also offers Buy Here Pay Here options.
Start online with basic information when you want a quick first step into the financing process.
Complete the full application when you are ready for a more complete financing review.
Peters Auto Mall does not charge a dealer documentation fee.
How Does the First-Time Buyer Process Work?
You do not have to figure everything out at once. Take it one step at a time.
Give us some basic information and begin exploring the financing side of the process.
Compare vehicles that fit your transportation needs and the budget you want to stay within.
When you are ready, provide the complete information needed for a financing review.
Supply any identification, income, residence or other information needed for your situation.
Go over the vehicle, financing terms and overall transaction before making your decision.
Once everything is completed, finish the purchase and take delivery of your vehicle.
Available financing, terms and requirements depend on the individual application, selected vehicle and financing source.
What Information Might a First-Time Buyer Need?
Requirements vary by financing source and transaction, but having accurate information ready can make the process easier.
A driver's license or acceptable state-issued identification may be used depending on the transaction.
Income verification may include pay stubs, bank statements or other acceptable documentation.
Current address and residence information may be part of the application.
Current employment details can be part of the financing review.
Some financing situations may require additional banking information.
A down payment may be needed in some situations, but there is not one amount that applies to everyone.
Can You Use a State ID or ITIN?
Peters Auto Mall works with customers in a variety of identification situations.
A state-issued ID may be accepted in some transactions, and Peters Auto Mall also works with customers who use an Individual Taxpayer Identification Number, or ITIN.
The documentation needed depends on the individual financing option and transaction.
Call Us With QuestionsWhat Kind of First Vehicle Should You Buy?
There is no one right first vehicle. Start with what you actually need for work, school, family and everyday transportation.
A compact or midsize car can make sense when commuting and fuel economy are priorities.
Crossovers can provide useful cargo room without the size of a larger SUV.
An SUV may make sense when passenger room and versatility matter.
Purchase price, insurance, fuel and maintenance should all be part of your first-vehicle budget.
Shopping for Your First Vehicle Under $20,000?
Used vehicles under $20,000 can give first-time buyers a useful range of choices while keeping purchase price in focus.
Shop the live Peters Auto Mall inventory and see all vehicles currently priced at $20,000 or less.
Shop Vehicles Under $20,000Don't See the Right First Vehicle Online?
Peters Auto Mall often has additional vehicles moving through inspection, service and detailing before they appear on the website.
We may already have a vehicle that fits your needs and budget, and some vehicles may sell before they appear online.
Ask About Incoming Vehicles - 336-781-2892Can Financing Your First Car Help Build Credit?
An auto loan can become part of your credit history when the financing source reports account activity to the credit bureaus.
Making payments as agreed can help establish payment history over time. Reporting practices vary by financing source, so ask about the specific financing arrangement you are considering.
Past Credit Problems Instead?
Having little or no established credit is different from rebuilding after past financial problems.
If repossessions, bankruptcy, collections, charge-offs, student loan payment problems or other credit challenges are the bigger issue, our High Point credit-financing page may better match your situation.
Financing With Credit ChallengesHave a Vehicle to Trade or Sell?
Some first-time finance customers already own a vehicle. Whether you want to trade it toward your first financed purchase or simply sell it to Peters Auto Mall, we can evaluate it.
Your current vehicle can be evaluated as part of your next purchase.
Peters Auto Mall can verify the lender payoff and handle the payoff and title process as part of the transaction.
No paying to advertise or promote your vehicle yourself.
Skip unanswered messages, lowball offers and buyers who make plans but never show up.
You do not have to arrange private meetings or test drives with unfamiliar buyers.
You can sell your vehicle directly to Peters Auto Mall without purchasing another vehicle from us.
Could You Buy and Take Delivery the Same Day?
Sometimes. Same-day delivery can depend on the vehicle, financing, required documentation, insurance and how quickly the transaction can be completed.
Having your information and documents ready can help make the process smoother.
Start OnlineFirst-Time Buyer Questions
Yes. You can start the process with little or no established credit history. Peters Auto Mall works with first-time buyers and customers who are just beginning to build credit.
Not automatically. Whether a co-buyer makes sense depends on the individual financing situation and overall application.
There is not one down-payment amount that applies to every first-time buyer. Requirements can depend on the application, selected vehicle and financing option.
Income verification is common in vehicle financing. The acceptable documentation depends on the financing source and transaction.
A state-issued ID may be accepted in some situations. Identification and licensing requirements depend on the transaction and financing option.
Yes. Peters Auto Mall works with customers who use an ITIN. The documentation and financing requirements depend on the individual transaction.
Yes. You can shop the live Peters Auto Mall inventory for vehicles currently priced at $20,000 or less.
Peters Auto Mall works with multiple financing sources and offers Buy Here Pay Here options, giving our team more than one path to explore for different customer situations. Approval is not guaranteed and depends on the individual application and financing requirements.
Yes. You can start with pre-approval, complete a full credit application, browse current inventory and value your trade before coming to either High Point location.
Why Peters Auto Mall?
Peters Auto Mall has served High Point and the surrounding Triad since 1993. If this is your first time buying a vehicle, you do not have to figure the entire process out by yourself.
Peters Auto Mall does not charge a dealer documentation fee.
Vehicles move through our service, detailing and get-ready process, with the required North Carolina State Inspection completed as applicable.
Qualifying vehicles include a 30-day / 1,000-mile limited powertrain warranty.
We work with multiple outside financing sources plus Buy Here Pay Here options.
Never having financed a vehicle before does not prevent you from starting the process.
Your current vehicle can be evaluated whether it is paid off or still has an existing payoff.
First-Time Buyer Help in High Point
Start online, then choose the Peters Auto Mall location that is most convenient for you. Inventory may be located at either store, so call about a specific vehicle before visiting.
High Point, NC 27265
336-791-4664
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