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
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
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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
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
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.
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Holy crap what a terrible rate! Was GM forcing their financing as a condition of purchase, like Porsche is doing?
No i had 4 car loans at the time so i took what i can get. I know everyone on SD has an 850 credit score and makes $500k+ a year, but i've had rates over double that in the past, so 9 isnt even that terrible to me lol.
On the bright side i paid $62,500 for it brand new in July and carmax already offered me $90k for it used 2 weeks ago and it's taking every piece of me not to pull the trigger
Also, was thru wells fargo not Ally (GM).
Last edited by Krayzie916 February 24, 2022 at 12:49 PM.
interesting - does DCU offer the highest discount for electric cars?
Not just EVs but any vehicle that gets above 35 mpg so it includes most hybrids too. The discount also stacks with the Plus Relationship discount for an effective rate of 1.24%. The Plus discount requires monthly direct deposit and autopay from their free checking account (no fees) which is pretty simple. A brand new auto loan could potentially get a better rate, but DCU's is the lowest I've seen for a refinanced efficient vehicle.
Quote
from qmcquackers
:
Probably asking more in forum like this than I should, but any brief feedback would be helpful
Im looking to get a new car soon. Ive found that its much cheaper to lease-to-buy with my past car (couldnt afford the financing to buy outright at the time). Just about to finish paying that one off and now I need to upgrade
Would one recommend I apply for pre-approval before going to the dealership? Should I go through this site to try first? My local CU said their best rate offered right now was around 2.7 (700+ credit) and then up from there
If you plan to go to the dealership within a week or two of applying, then it would a good idea. Hard inquiries within a short period for the same loan get treated as one inquiry for the purposes of credit score (although this is contingent on the dealer and bank/CU pulling the same bureau). However, if you do get pre-approved, don't let the dealership know you have an offer from your bank/CU until after the price is finalized.
I never had to refinance a car before so no experience with one. Bought a new car some months ago with over 4% rate so thinking of refinancing. I do have experience with personal loans, and they all require some kind of fee to close the loan. Obviously, not as much as a home financing, but still you have to pay something, whether the fee is nominal or not. Nothing wrong with my question.
Exactly. Get out of here shahere and go promote your serial home refinancing elsewhere. I'm sure your followers are getting screwed big time with your advice now that rates are skyrocketing. Poor SDers that actually listen to you.
I've used penfed in the past for loans but applied for a car loan recently and they wouldn't give me close to their best rate even with excellent credit. I got a much better rate elsewhere. Their banking portal is also stuck in 1999. It always pays to shop around.
I've used penfed in the past for loans but applied for a car loan recently and they wouldn't give me close to their best rate even with excellent credit. I got a much better rate elsewhere. Their banking portal is also stuck in 1999. It always pays to shop around.
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152 Comments
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On the bright side i paid $62,500 for it brand new in July and carmax already offered me $90k for it used 2 weeks ago and it's taking every piece of me not to pull the trigger
Also, was thru wells fargo not Ally (GM).
Im looking to get a new car soon. Ive found that its much cheaper to lease-to-buy with my past car (couldnt afford the financing to buy outright at the time). Just about to finish paying that one off and now I need to upgrade
Would one recommend I apply for pre-approval before going to the dealership? Should I go through this site to try first? My local CU said their best rate offered right now was around 2.7 (700+ credit) and then up from there
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What does this mean?
Damn good deal, will still pay the $370 to pay off early but super nice
16%!!! Did you finance like 10 years ago? Haven't seen those rates in decades.
Although this rate overall sucks, it may be the best deal available for shorter term cd's right now
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