First-Time Auto Buyer Program

Available to our members between the ages of 18 and 25

First-Time Auto Buyer Program

To meet the needs of our younger members just beginning to establish credit, OTIS has structured and made available an auto loan program that introduces and educates first-time auto borrowers on the nuances and responsibilities of financing a first vehicle.

First-Time Auto Buyers Can …
  • Borrow up to $20,000 (loans amounts above $20,000 require a co-signer).
  • Borrow for up to a term of up to 60 months.
  • Borrow up to 90% of retail value (including tax, title, and doc fees). Exception for loan-to-value over 90% is allowed with Guaranteed Auto Protection or Vehicle Service Contract.

Six months of consistent employment required. Must have at least 10% down payment to qualify without a co-signer. Vehicle must be newer than 10 years old, and have under 100,000 miles. Payments must not exceed 15% of gross monthly income. 

Give us a call at (207) 897-0900 to get started, or conveniently apply online today! 

 KarissLoan OfficerExtension 128
Lindsay Loan OfficerExtension 103
Caitlin Loan OfficerExtension 108
Jasmine Loan OfficerExtension 105
Jamie Loan ManagerExtension 124

Please note: If you apply during non-business hours, we will contact you the next business day.


Call a friendly loan officer today at (207) 897-0900 for more information!