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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Wow just got a bait and switch on rate -- soft inquiry rate was 2.69% for 60mo and then after providing w2 came back at 3.44%! Just applied to DCU and got 1.99% for 65mo.
Last edited by holycow1 March 2, 2022 at 07:22 PM.
about to buy honda car from dealer. dealer is giving discount if i go thru honda finance than cash price around $1000.
1) i do finance from honda then i need to pay 1.9% from 36 month
2) shall i get loan from Honda now and refinance from credit union later .. do i need to pay any document fee or transaction fee
Wow just got a bait and switch on rate -- soft inquiry rate was 2.69% for 60mo and then after providing w2 came back at 3.44%! Just applied to DCU and got 1.99% for 65mo.
The question is did you provide information that was accurate for the soft pull that when they actually pulled the hard and saw your actual finances and credit history it differed from what you stated?
The question is did you provide information that was accurate for the soft pull that when they actually pulled the hard and saw your actual finances and credit history it differed from what you stated?
Yep. All accurate. Including recent (and frequent) soft pull scores from all 3 credit bureaus. Also, even if it were off a little, my DTI is like 10%. I've never had that happen to me before where there's such a drastic change in rate pre-approval to full approval
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Be aware this is a fairly time consuming project. If approved (I got 2.49% on `22 subaru) you are required to send a 15 day payoff (which chase had to send me via snail mail). Then penfed sends you a check (instead of sending it directly to your current loan bank) via snail mail. Then you have to send the check into your current bank (Yes I should have sent it priority, instead I used snail mail vegas to phoenix payoff address).
Meanwhile I am late on my payment. Now I'm getting letters and emails about being late.
I sent the check 3/15/22, and almost a week later they said they have not received it.
Hopefully the process isn't a problem for others, but I wanted to share my experience. Like why can't penfed just send my bank the check, or better yet electronically pay off my loan?!
I just bought a new car with 2.75% interest (6 year loan). Is it worth refinance to 1.79%?
At 72 months, the best interest rate they offer is 2.39%. So not a substantial savings, but I guess a little bit is better than nothing? Depends if it's worth your time.
3.125%, 0 origination, 0 points, plus $2K credit towards closing costs on a 30-year mortage purchase loan.
Then I just took out a title loan on my car. Paid $32K for the car in 2020, they gave me a $44.5K loan at 2.59%/60 months. Easy money for my renovations.
Wow just got a bait and switch on rate -- soft inquiry rate was 2.69% for 60mo and then after providing w2 came back at 3.44%! Just applied to DCU and got 1.99% for 65mo.
Is your DCU rate with all the discounts? I am hoping to get the 1.49% after the member discount and energy efficiency discount.
How was the experience there?
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Is your DCU rate with all the discounts? I am hoping to get the 1.49% after the member discount and energy efficiency discount.
How was the experience there?
No, they actually offered another 50bps discount on rate after opening a checking with direct deposit. I'm not sure what other discounts may have been available, but the car was a hybrid.
Anecdotally, I think current rates have gone up 75bps since signing
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1) i do finance from honda then i need to pay 1.9% from 36 month
2) shall i get loan from Honda now and refinance from credit union later .. do i need to pay any document fee or transaction fee
need suggestion.
Thanks in advance
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Meanwhile I am late on my payment. Now I'm getting letters and emails about being late.
I sent the check 3/15/22, and almost a week later they said they have not received it.
Hopefully the process isn't a problem for others, but I wanted to share my experience. Like why can't penfed just send my bank the check, or better yet electronically pay off my loan?!
3.125%, 0 origination, 0 points, plus $2K credit towards closing costs on a 30-year mortage purchase loan.
Then I just took out a title loan on my car. Paid $32K for the car in 2020, they gave me a $44.5K loan at 2.59%/60 months. Easy money for my renovations.
How was the experience there?
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How was the experience there?
Anecdotally, I think current rates have gone up 75bps since signing