First-Time Car Buyers Near Lexington, NC
If you have never financed a vehicle before, the process can feel unfamiliar. Peters Auto Mall can help you understand the next steps, shop current vehicles and explore financing options before making the trip from Lexington to High Point.
Start With the Situation You Have Today
Not having a previous auto loan is only one part of a financing application. It does not mean you need to know every answer before you begin.
Peters Auto Mall works with multiple financing sources, and financing sources may consider the overall application, vehicle and other information when reviewing available options.
You can begin the process even if you have never financed a vehicle before.
Peters Auto Mall works with multiple outside financing sources plus 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.
Your current vehicle can be evaluated whether it is paid off or still has an existing payoff.
Peters Auto Mall does not charge a dealer documentation fee.
A Simple Way to Start From Lexington
You do not have to figure out the entire purchase before taking the first step.
Provide some basic information online and begin exploring the financing side of the process.
Focus on vehicles that fit your transportation needs and the budget you want to stay within.
Complete the full credit application when you are ready for a more complete financing review.
Supply any additional information or documentation requested for your application.
Review 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.
Shop Before You Drive to High Point
Inventory changes regularly, so start with the vehicles that are actually available now rather than a static list of suggested first cars.
What Can Matter on a First-Time Buyer Application?
Financing sources may consider more than whether you have financed a vehicle before. Income, employment, residence, the selected vehicle, possible money down, trade value and other application details can all be part of the review.
Complete and accurate information gives the financing team a clearer picture of your current situation.
Income information or verification may be part of the financing review.
Your current employment information may be considered as part of the application.
Your current address and residence information may be requested.
The vehicle you select can be part of determining the financing options available.
Down-payment requirements vary based on the application, selected vehicle and financing option.
A current vehicle can be evaluated and may become part of the overall transaction.
No Auto-Loan History Is Not the Same as Bad Credit
A limited auto-credit history and past credit problems are not the same situation.
If you have never financed a vehicle, your main concern may simply be that there is no previous auto loan to point to. If repossessions, bankruptcy, collections or other past credit challenges are involved, those factors can affect the financing options available.
Either way, the next step is to start with your current information rather than assume the outcome in advance.
Start With Pre-Approval Financing With Credit ChallengesIdentification and Documentation
Documentation requirements depend on the financing source and transaction. You may be asked for information related to identification, residence, employment, income or other application details.
Peters Auto Mall also works with customers in a variety of identification situations, including customers who may use an ITIN. Available financing and documentation requirements depend on the financing source and individual application.
Have 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.
First-Time Car Buyer Questions
Yes. You can submit an application without having a previous auto loan. Financing sources have different requirements and review the complete application.
No. Whether a co-buyer is helpful or required depends on the individual application and financing-source requirements.
There is no single down-payment requirement for every first-time buyer. The amount can depend on the application, selected vehicle and financing option.
Yes. You can begin with online pre-approval, browse live inventory, value a trade or complete the full credit application before visiting Peters Auto Mall.
Peters Auto Mall works with customers who may use an ITIN. Documentation and available financing depend on the individual application and financing source.
No. Financing approval and program terms depend on the individual application, selected vehicle and financing requirements. Peters Auto Mall helps shoppers explore the options available for their situation.
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.
Peters Auto Mall Locations Serving Lexington
For many Lexington-area shoppers, Peters Auto Mall at 2857 S Main St is a convenient choice when coming into High Point. Peters Auto Mall North High Point is also available. Vehicles may be located at either store, so call about a specific vehicle before making the trip.
High Point, NC 27263
336-781-2892
Get Directions
High Point, NC 27265
336-791-4664
Get Directions