How this works: When you purchase your car through the PenFed Car Buying Service
12 to 48 months financing for up to $70.000.
Just wanted to bump this as it is still good as of 12/06/11 - I got 1.99 from PenFed back in late October & thought it was a fantastic deal for such an easy on-line process. This is even better & mixed that in with dealers willing to deal at year end = Ka- ching for you!
Took like 15 minutes total to apply & get instant approval on-line. PenFed is a great franchise.
*Internet-only special rate. Higher rate will be assessed if you do not apply online. 1.49% APR applies to new and used vehicles for loan amounts up to $70,000 financed for 12-48 months.
Car Loan example: $20,000 loan at 1.49% APR, 48 monthly payments of approximately $429.47 each
Used vehicles maximum used auto loan advance is NADA "Retail Value" or 80% of the purchase price where NADA "Retail Value" is not available. Term is based on loan amount and model year. Further restrictions apply on vehicles with 100,000 miles or more. Call 1-800-247-5626 for details.
Rate and term are based upon loan amount and model year and are subject to change. Up to 100% financing is available to qualified members. Other conditions apply. Rate current as of December 2011 unless otherwise noted and is subject to change.
Sounds like having to go through PenFed Car Buying Service is a pita. Rather them just cut me a check and buy it on my own. Used Capital One a few years ago to buy a used car and the transaction was smooth sailing.
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