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Penfed Auto Loan 1.49% for New, Used, Refinance up to 60 months
Just saw this posted on their site. 1.49% for New, used and Refinance up to 60 months if applied online. I have an autoloan and credit card with them and the have been great. There are multiple ways to qualify to become a member.
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Last Edited by FinsUp99
September 11, 2012
at
10:15 AM
Keep in Mind: This rate is not available for refinancing of an existing PenFed loan.
FYI : If you get their loan, the insurance requirement is 500 deductible for the car that is being financed. At least when I got their loan a year ago. So check it out.
AAA members can join penfed for free https://www.penfed.org/aaa-auto-loans-overview/
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9/8/12: PenFed sent me an email saying cars with more than 100k are only eligible for 24 month loans.
9/9/12: Follow-up phone call confirmed that >100k can be no longer than 24 months. Mileage over 125k is not eligible for a loan.
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FYI : If you get their loan, the insurance requirement is 500 deductible for the car that is being financed. At least when I got their loan a year ago. So check it out.
AAA members can join penfed for free https://www.penfed.org/aaa-auto-loans-overview/
[COLOR="Red"]
9/8/12: PenFed sent me an email saying cars with more than 100k are only eligible for 24 month loans.
9/9/12: Follow-up phone call confirmed that >100k can be no longer than 24 months. Mileage over 125k is not eligible for a loan.
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.
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I'm wondering how much will be the rate if the score is around 750?
My score is around 750. I applied for a penfed auto loan 3 weeks ago when the rate was still 1.99. I requested a loan for 25k. I was approved within 5 minutes. I chose to save the loan for later. A few days later, I received a check for 25k, to be filled out at the time of purchase. The check was good till September 15th. Turned out, I found the truck I wanted online and called the dealer and made an offer on 7/15. I took delivery of the truck on Sat 7/28. The check was posted by the dealer on 8/2 which lowered my loan rate to 1.49. I love it when a plan comes together.
Bottom line: dealers (and military recruiters) lie. That's their job.
You should be more careful in the future with your words. I'm an Air Force recruiter and I guarantee I have never lied to any applicant I've come across. My recruiter never lied to me when I joined 10 years ago and I'm still in,. I chose to become a recruiter b/c I love the Air Force and want to help other young people see the opportunities that are available. If I felt my recruiter lied, I would be bitter and certainly wouldn't be recruiting others to join but instead them tell to stay far away. That obviously isn't the case here. Hell, we're the Air Force. We don't have to lie, period! We have people beating down our doors (maybe I'm exaggerating a little bit) to join. Therefore, we don't have to lie to anyone. Our applicants greatly outweigh the number of jobs we have available. This means the qualifications to join have increased and become more competitive than it was years ago. I have to turn a lot of people away b/c they just don't meet the qualifications we are looking for. I have no doubt some recruiters in the military lie, just like all humans in every profession. But to make a generalization that all recruiters lie is an uneducated move on your part.
waste of time. everything was oral. the dealer would give a very different version of what his people told the buyer.
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Boo! Guess i'll need to wait a few months, just bought a used car for 24k about 5 months ago and the loan is with Cap One Auto @ 4.69...can't believe penfed denied me though...
Boo! Guess i'll need to wait a few months, just bought a used car for 24k about 5 months ago and the loan is with Cap One Auto @ 4.69...can't believe penfed denied me though...
https://www.dcu.org/prodserv/r_auto-index.html
https://www.dcu.org/prodserv/r_auto-index.html
Thanks for doing your part and for your service. If you really never have misled any recruit or potential recruit, and the same is true for most of your colleagues, times certainly have changed. My message is simply caveat emptor, which applies to recruiters as well as car dealers.
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