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expired Posted by sdStu • Feb 24, 2022
expired Posted by sdStu • Feb 24, 2022

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
709 Posts
222 Reputation
16% AND early payoff fee?! Do you bank with the Corleone family?
DeathCab
3724 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
455 Posts
Joined Nov 2016
Feb 24, 2022
Krayzie916
Feb 24, 2022
455 Posts
Holy crap u just saved me $250 a month. Thank you
2
Feb 24, 2022
3,099 Posts
Joined Jan 2006
Feb 24, 2022
jneset
Feb 24, 2022
3,099 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
580 Posts
Joined Dec 2021
Feb 24, 2022
model3.420
Feb 24, 2022
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
140 Posts
Joined Dec 2014
Feb 24, 2022
CuriousEna
Feb 24, 2022
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
315 Posts
Joined Mar 2017
Feb 24, 2022
Ramukaka4ever
Feb 24, 2022
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
3,550 Posts
Joined Apr 2011
Feb 24, 2022
kida182001
Feb 24, 2022
3,550 Posts
What's typically the closing for refinancing a car?
1
Feb 24, 2022
1,219 Posts
Joined Jun 2006
Feb 24, 2022
Boondocksw
Feb 24, 2022
1,219 Posts
2.39 is nice… hmm don't owe hardly anything though

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Feb 24, 2022
3,724 Posts
Joined Jun 2004
Feb 24, 2022
DeathCab
Feb 24, 2022
3,724 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
5,080 Posts
Joined Jul 2006
Feb 24, 2022
shahhere
Pro
Feb 24, 2022
5,080 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
166 Posts
Joined Apr 2013
Feb 24, 2022
je2345
Feb 24, 2022
166 Posts
Nice deal. Have a lower rate with United Federal credit union.
Feb 24, 2022
2,397 Posts
Joined Jan 2012
Feb 24, 2022
baggy
Feb 24, 2022
2,397 Posts
Looks like they don't offer special rate reduction for electric cars... Like DCU
Feb 24, 2022
349 Posts
Joined Apr 2009
Feb 24, 2022
intex45
Feb 24, 2022
349 Posts
Wish I wasn't too broke to buy a car...
Feb 24, 2022
611 Posts
Joined Aug 2011
Feb 24, 2022
DCproper
Feb 24, 2022
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
611 Posts
Joined Aug 2011
Feb 24, 2022
DCproper
Feb 24, 2022
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
141 Posts
Joined Mar 2011
Feb 24, 2022
Puppyburger
Feb 24, 2022
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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