Loan Terms & Conditions

Terms & Conditions - the basics

1. Equal Opportunity Lending

American First is an Equal Opportunity Lender. Loan approval is based on credit-related factors including, but not limited to, income, credit history, employment stability, and collateral. Not all applicants will qualify, and approval is not guaranteed. Each application is reviewed individually to ensure fair and consistent evaluation.​

 2. Payment Obligations

By entering into a loan agreement with American First, you agree to make payments in full and on time each month as outlined in your contract.

• Payments are required monthly without exception.

• No verbal statement or agreement shall alter or void the written terms of your loan contract.

• Failure to make payments as agreed constitutes default and may result in collection activity, which may include (but is not limited to):

  • Repossession of collateral

  • Legal judgment

  • Garnishment of wages or other remedies available by law

 3. Insurance Requirements for Auto Loans

For all auto loan contracts, borrowers are required to maintain full coverage insurance on the financed vehicle at all times.

• American First must be listed as lienholder on the insurance policy.

• Proof of insurance must be provided upon request.

• Failure to maintain proper insurance may result in the assessment of additional fees for Collateral Protection Insurance (CPI), added at the discretion of American First.

 4. Additional Provisions

• All loan contracts are legally binding and enforceable.

• American First reserves the right to amend or update these Terms & Conditions in compliance with state and federal regulations.

• Please refer to your loan agreement for full details and contact us with any questions.

By signing your loan agreement, you acknowledge that you have read, understood, and agreed to these terms.