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Penfed Auto Loan 1.49% for New, Used, Refinance up to 60 months

Wichard20 380 August 1, 2012 at 04:18 PM in Finance (6)
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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.

www.penfed.org

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Joined Oct 2009
L3: Novice
42 Reputation
#346
i don't see any branches in my area. how do i suppose to pay them monthly? mail check? or transfer from checking account?
what is the best way to pay them monthly?
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Joined Mar 2005
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51 Reputation
#347
Quote from minj View Post :
Said month of August for the used car loan rates when I looked.
Thanks.
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Joined Jul 2007
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#348
Quote from olive787 View Post :
i don't see any branches in my area. how do i suppose to pay them monthly? mail check? or transfer from checking account?
what is the best way to pay them monthly?
FedEx the pennie sack overnight yo...

You can link u r checking account and make payments just like any other financial institutions
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Joined Jun 2008
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#349
Quote from olive787 View Post :
i don't see any branches in my area. how do i suppose to pay them monthly? mail check? or transfer from checking account?
what is the best way to pay them monthly?
I keep hearing about this internet thing, but I dunno if its legit or notshake head
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Joined Nov 2006
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#350
Quote from provicemo View Post :
I keep hearing about this internet thing, but I dunno if its legit or notshake head

It's just rumor and speculation if you ask me. I keep waiting for something to appear on 60 minutes about it...but so far, nothing.
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Joined Mar 2007
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73 Reputation
#351
Quote from olive787 View Post :
i don't see any branches in my area. how do i suppose to pay them monthly? mail check? or transfer from checking account?
what is the best way to pay them monthly?
I already had an acct. w/ them when I applied for a new auto loan, but this part must be the same for whatever type of financing you are doing. When it comes to the part where they ask where you are going to pay from they give you options - fund monthly from your Pen Fed acct., another bank acct. or checking acct. which I was glad they gave the choice. When I used Pen Fed for our home equity loan 3 years ago I don't remember getting the option and I had to make sure to put the $ in my Pen Fed acct every month to make my payment. HTH!
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Joined Jan 2011
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#352
Wife was turned down. Doesnt say a reason when I checked online..
can she re-apply and put me down as co-signer?
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Joined Nov 2008
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55 Reputation
#353
GOSH spent 3 hours to have 2 cars refinanced
car #1 : interest 1.49% (org. 3.49% )saved $1100
car #2 : interest 1.49% (org. 2.99%) saved $200 lol
thanks soooooooooooooooooooooooooo much for posting this . I did rep
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#354
Quote from AdeleG View Post :
GOSH spent 3 hours to have 2 cars refinanced
car #1 : interest 1.49% (org. 3.49% )saved $1100
car #2 : interest 1.49% (org. 2.99%) saved $200 lol
thanks soooooooooooooooooooooooooo much for posting this . I did rep

I got approved for $23,000 on Aug 6th but I still haven't found a car yet. They told me I had 90 days to find a car but my question is how does the refinance process work? I'm concerned a dealer might not want to give me a better deal unless I finance with them so I was wondering if I can immediately refinance thru PenFed. I was told I can change the loan type if necessary. Thanks.
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Joined Jan 2011
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#355
I can do this thru online right
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Joined Jul 2010
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#356
Quote from netsfan549 View Post :
I can do this thru online right

Really??
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Joined Jan 2011
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30 Reputation
#357
Being serious, my car already financed so idk how this work
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Joined Apr 2008
L3: Novice
10 Reputation
#358
Thanks OP. I have an existing loan with Penfed. Was shopping for 2nd car and saw this thread. Applied and was approved after 2 hrs of applying online. Great deal. I pay my monthly payments thru ACH payments from my other bank.
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Joined Dec 2011
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#359
Quote from netsfan549 View Post :
Being serious, my car already financed so idk how this work
first you need to contact your current lender & get WRITTEN permission to refinance your loan through a different lender.

once you have that permission slip, scan it to your hard drive.

then send it electronically to a Slickdeals moderator. if the moderator authorizes a pre-approval, you'll get a special reference code, which you will need to provide to PenFed during the refinancing process.

Let us know whether you have further questions.
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Joined Dec 2008
L5: Journeyman
290 Reputation
#360
Quote from financechick View Post :
first you need to contact your current lender & get WRITTEN permission to refinance your loan through a different lender.

once you have that permission slip, scan it to your hard drive.

then send it electronically to a Slickdeals moderator. if the moderator authorizes a pre-approval, you'll get a special reference code, which you will need to provide to PenFed during the refinancing process.

Let us know whether you have further questions.
LMAOLMAOLMAO
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