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

Wichard20 298 482 August 1, 2012 at 04:18 PM in Finance (6)
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Last Edited by widgit August 3, 2012 at 01:02 AM
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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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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657 Comments

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#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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#347
Quote from minj View Post :
Said month of August for the used car loan rates when I looked.
Thanks.
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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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#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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#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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#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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#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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#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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#355
I can do this thru online right
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#356
Quote from netsfan549 View Post :
I can do this thru online right

Really??
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#357
Being serious, my car already financed so idk how this work
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#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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#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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#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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