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

$150 Bonus
for Loans $10K+
+87 Deal Score
54,164 Views
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 & Price Research

Written by
  • 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
Good Deal?

Original Post

Written by
Edited February 28, 2022 at 01:17 PM by
I wish I didn't already have my loan with them or I'd jump on this

https://www.penfed.org/auto/refinance
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Deal
Score
+87
54,164 Views
$150 Bonus

Community Wiki

Last Edited by soloma February 24, 2022 at 05:06 AM
1$150 Bonus Offer Disclosure: 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. PenFed internal refinances and loans originated from 3rd party partners are not eligible for this promotion. The $150 rebate will be deposited to the membership share savings account within 90 days of the loan disbursal date. At time of rebate posting, the loan must be currently active and have at least 1 payment posted in order to qualify. PenFed may discontinue or change the promotion at any time. Other restrictions may apply.
2Pre-qualification Disclosure: The initial inquiry will be a soft pull that will not affect your credit score. If you choose to initiate a loan application after checking your rates, you will be required to authorize a full credit report inquiry, which would be considered a hard pull and may affect your credit.

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Featured Comments

Holy crap u just saved me $250 a month. Thank you
16% AND early payoff fee?! Do you bank with the Corleone family?
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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Joined Nov 2016
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Krayzie916
02-23-2022 at 06:08 PM.
02-23-2022 at 06:08 PM.
Holy crap u just saved me $250 a month. Thank you
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jneset
02-23-2022 at 09:45 PM.
02-23-2022 at 09:45 PM.
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.
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Last edited by jneset February 23, 2022 at 10:15 PM.
Joined Dec 2021
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model3.420
02-23-2022 at 10:33 PM.
02-23-2022 at 10:33 PM.
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
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Joined Dec 2014
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CuriousEna
02-24-2022 at 04:05 AM.
02-24-2022 at 04:05 AM.
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.
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Ramukaka4ever
02-24-2022 at 04:48 AM.
02-24-2022 at 04:48 AM.
I am most likely going to buy a used car this Saturday. Any idea how/if I can avail this offer?
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Joined Apr 2011
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kida182001
02-24-2022 at 04:49 AM.
02-24-2022 at 04:49 AM.
What's typically the closing for refinancing a car?
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Joined Jun 2006
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Boondocksw
02-24-2022 at 04:54 AM.
02-24-2022 at 04:54 AM.
2.39 is niceā€¦ hmm don't owe hardly anything though
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Joined Jun 2004
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DeathCab
02-24-2022 at 04:57 AM.
02-24-2022 at 04:57 AM.
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.
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Joined Jul 2006
Call me Mr. Deals
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shahhere
02-24-2022 at 05:03 AM.
02-24-2022 at 05:03 AM.
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
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Joined Apr 2013
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je2345
02-24-2022 at 05:04 AM.
02-24-2022 at 05:04 AM.
Nice deal. Have a lower rate with United Federal credit union.
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Joined Jan 2012
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baggy
02-24-2022 at 05:07 AM.
02-24-2022 at 05:07 AM.
Looks like they don't offer special rate reduction for electric cars... Like DCU
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Joined Apr 2009
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intex45
02-24-2022 at 05:23 AM.
02-24-2022 at 05:23 AM.
Wish I wasn't too broke to buy a car...
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