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expiredsdStu posted Feb 24, 2022 01:43 AM
expiredsdStu posted Feb 24, 2022 01:43 AM

PenFed Credit Union: Auto Loan Refinance on 2021 Models, Pay 1.79% APR + Earn

for Loans $10K+

$150 Bonus

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Deal Details
PenFed Credit Union (Locations) Offers its Members: 1.79% APR on a Auto Loan Refinance from Another Institution for 2021 or Newer Car Models. Additionally, Earn $150 Bonus on Auto Loan Refinance of $10,000 or More.

Thanks community member sdStu for sharing this deal

Editor's Notes

Written by slickdewmaster | Staff
  • Offer Terms:
    • You must be a PenFed Credit Union member to qualify for this offer. You may become a member of PenFed Credit Union by opening a $5 PenFed savings account.
    • The auto refinance rebate of $150 is eligible on loan amounts of $10,000 and greater and must be refinanced from another institution. Applies to refinance loan applications funded between 02/12/2022 and 4/15/2022.
    • The $150 rebate will be deposited to the membership share savings account within 90 days of the loan disbursal date.
  • Refer to forum thread for additional deal discussion. -slickdewmaster

Original Post

Written by sdStu
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
PenFed Credit Union (Locations) Offers its Members: 1.79% APR on a Auto Loan Refinance from Another Institution for 2021 or Newer Car Models. Additionally, Earn $150 Bonus on Auto Loan Refinance of $10,000 or More.

Thanks community member sdStu for sharing this deal

Editor's Notes

Written by slickdewmaster | Staff
  • Offer Terms:
    • You must be a PenFed Credit Union member to qualify for this offer. You may become a member of PenFed Credit Union by opening a $5 PenFed savings account.
    • The auto refinance rebate of $150 is eligible on loan amounts of $10,000 and greater and must be refinanced from another institution. Applies to refinance loan applications funded between 02/12/2022 and 4/15/2022.
    • The $150 rebate will be deposited to the membership share savings account within 90 days of the loan disbursal date.
  • Refer to forum thread for additional deal discussion. -slickdewmaster

Original Post

Written by sdStu

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Top Comments

Krayzie916
455 Posts
88 Reputation
Holy crap u just saved me $250 a month. Thank you
mem4720
711 Posts
222 Reputation
16% AND early payoff fee?! Do you bank with the Corleone family?
DeathCab
3726 Posts
2720 Reputation
You do not (and should not) pay closing fees on a car finance / refinance (with the possible exception of government fees for a new title being issued, which should be $50 or less in most areas and many lenders don't even charge you that). YMMV.

151 Comments

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Feb 24, 2022 02:08 AM
455 Posts
Joined Nov 2016
Krayzie916Feb 24, 2022 02:08 AM
455 Posts
Holy crap u just saved me $250 a month. Thank you
2
Feb 24, 2022 05:45 AM
3,104 Posts
Joined Jan 2006
jnesetFeb 24, 2022 05:45 AM
3,104 Posts
Quote from sdStu :
I wish I didn't already have my loan with them or I'd jump on this
Quote from Krayzie916 :
Holy crap u just saved me $250 a month. Thank you
Woulda been the 3rd time I refinanced the auto loan (NFCU>DCU>Penfed) & got $150 each hop, but interest rate offered on a used vehicle is horrid, from what I'm used to previously seeing with mil. being 1.99%s!
New Est. Monthly Payment 36 months, 3.99% APR
It'd be me paying $1K/8 mo=+60 in interest +$20 in re-titling (the others charged that)=meh for $70 in potential savings.
Last edited by jneset February 23, 2022 at 10:15 PM.
2
Feb 24, 2022 06:33 AM
580 Posts
Joined Dec 2021
model3.420Feb 24, 2022 06:33 AM
580 Posts
Quote from jneset :
Woulda been the 3rd time I refinanced the auto loan (NFCU>DCU>Penfed) & got $150 each hop, but interest rate offered on a used vehicle is horrid, from what I'm used to previously seeing with mil. being 1.99%s!
New Est. Monthly Payment 36 months, 3.99% APR
It'd be me paying $1K/8 mo=+60 in interest +$20 in re-titling (the others charged that)=meh for $70 in potential savings.
wow with incentives like this I wish my car wasn't paid off Wink
1
1
Feb 24, 2022 12:05 PM
140 Posts
Joined Dec 2014
CuriousEnaFeb 24, 2022 12:05 PM
140 Posts
Nice offer! Would've jumped on this if i was in market for new car.

Fortunately, 4 months ago, I was able to secure a deal from dealer (without paying over sticker haha!) and refinanced it at 1.49% with Tower Federal CU.
Feb 24, 2022 12:48 PM
315 Posts
Joined Mar 2017
Ramukaka4everFeb 24, 2022 12:48 PM
315 Posts
I am most likely going to buy a used car this Saturday. Any idea how/if I can avail this offer?
1
Feb 24, 2022 12:49 PM
3,563 Posts
Joined Apr 2011
kida182001Feb 24, 2022 12:49 PM
3,563 Posts
What's typically the closing for refinancing a car?
1
Feb 24, 2022 12:54 PM
1,222 Posts
Joined Jun 2006
BoondockswFeb 24, 2022 12:54 PM
1,222 Posts
2.39 is nice… hmm don't owe hardly anything though

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Feb 24, 2022 12:57 PM
3,726 Posts
Joined Jun 2004
DeathCabFeb 24, 2022 12:57 PM
3,726 Posts
Quote from kida182001 :
What's typically the closing for refinancing a car?
You do not (and should not) pay closing fees on a car finance / refinance (with the possible exception of government fees for a new title being issued, which should be $50 or less in most areas and many lenders don't even charge you that). YMMV.
Pro
Feb 24, 2022 01:03 PM
5,108 Posts
Joined Jul 2006
shahhere
Pro
Feb 24, 2022 01:03 PM
5,108 Posts
Quote from kida182001 :
What's typically the closing for refinancing a car?
Quote from DeathCab :
You do not (and should not) pay closing fees on a car finance / refinance (with the possible exception of government fees for a new title being issued, which should be $50 or less in most areas and many lenders don't even charge you that). YMMV.

Right this isnt a House Refinance lol and any fees should be nominal (Doc or other small fees).


Shahhere
Feb 24, 2022 01:04 PM
166 Posts
Joined Apr 2013
je2345Feb 24, 2022 01:04 PM
166 Posts
Nice deal. Have a lower rate with United Federal credit union.
Feb 24, 2022 01:07 PM
2,404 Posts
Joined Jan 2012
baggyFeb 24, 2022 01:07 PM
2,404 Posts
Looks like they don't offer special rate reduction for electric cars... Like DCU
Feb 24, 2022 01:23 PM
349 Posts
Joined Apr 2009
intex45Feb 24, 2022 01:23 PM
349 Posts
Wish I wasn't too broke to buy a car...
Feb 24, 2022 01:24 PM
611 Posts
Joined Aug 2011
DCproperFeb 24, 2022 01:24 PM
611 Posts
Wow! Thanks I actually sat here and refinanced in like 5 minutes and got almost two points shaved off of my interest rate. Oddly enough, they're sending me the payoff check and want me to forward it to my existing lender 😑
Feb 24, 2022 01:26 PM
611 Posts
Joined Aug 2011
DCproperFeb 24, 2022 01:26 PM
611 Posts
Quote from baggy :
Looks like they don't offer special rate reduction for electric cars... Like DCU
Yeah mine is electric. I had no idea that lenders had special offerings for them.

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Feb 24, 2022 01:43 PM
141 Posts
Joined Mar 2011
PuppyburgerFeb 24, 2022 01:43 PM
141 Posts
Wow, dropped my loan from 16% interest to 3.99 and cut payment from $369 to $171 and only added 12 months of extra time.

Damn good deal, will still pay the $370 to pay off early but super nice
1

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