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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.
www.penfed.org
www.penfed.org
Created 08-01-2012
at 04:18 PM
by Wichard20
in
Autos
(6)
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Community Wiki
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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If the car is not paid off, it will be a different story
Thank You.
Thank You.
1)you can make it out to their lien holder directly in which case the bank will release the title to the seller along with the $ difference
2)you make it out to the seller, seller deposits check, use that fund to pay off the car, bank releases the title to the owner, in which case it could take weeks if not months.
All depends on what the seller wants to do. Like I said previously, best way is to have them pay off the car first and have the title ready. You can offer them to put a deposit down so that they know you mean business. I recommend paying deposit using your credit card so in case you meet a scammer, you have a recourse on getting your deposit back.
Sometimes financing is so cheap you have to take advanage of it. So even if you did have the cash you can put it toward other investments that yield >1.49%
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Why should it matter if you have a high or low budget for a car? Its just smart to find ways to save money no matter how much it is. Thats what Slick...in case you forgot where you are.
Current Balance: $0.00
Available Balance: -$5.00
When I select create new savings account, i see this:
1. The number shown on this form is my correct taxpayer identification number, and
2. I am not subject to backup withholding because:
I am exempt from backup withholding, or
As a result of a failure to report all interest or dividends, or
The IRS has notified me that I am no longer subject to withholding, and
3. I am a U.S. person (including a U.S. resident alien).
The Internal Revenue Service does not require the consent to any provision of this document other than the certifications required to avoid backup withholding.
You agree that the information provided on this form is accurate and correct to the best of your knowledge.
4. I have read the following disclosures and policies:
Pentagon Federal Credit Union Privacy Policy
Regular Share Disclosure
©2013 Pentagon Federal Credit Union
Also, is there a penalty for paying off early? i.e. say I get a $20,000 loan for 48 months from Penfed. I make $9,000 in payments and decide to pay off completely remaining $11,000. Will I be charged interest on the remaining $11,000?
Why do I have negative balance of $5 and what can I do to correct it?
When I select create new savings account, i see this:
and
What should I select?
Also, is there a penalty for paying off early? i.e. say I get a $20,000 loan for 48 months from Penfed. I make $9,000 in payments and decide to pay off completely remaining $11,000. Will I be charged interest on the remaining $11,000?
refi through military and had it dropped to 12%
can i refi this again to get this 1.4%
22% my god
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