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Penfed Auto Loan 1.49% for New, Used, Refinance up to 60 months
Just saw this posted on their site. 1.49% for New, used and Refinance up to 60 months if applied online. I have an autoloan and credit card with them and the have been great. There are multiple ways to qualify to become a member.
www.penfed.org
www.penfed.org
Created 08-01-2012
at 04:18 PM
by Wichard20
in
Autos
(6)
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Community Wiki
Last Edited by FinsUp99
September 11, 2012
at
10:15 AM
Keep in Mind: This rate is not available for refinancing of an existing PenFed loan.
FYI : If you get their loan, the insurance requirement is 500 deductible for the car that is being financed. At least when I got their loan a year ago. So check it out.
AAA members can join penfed for free https://www.penfed.org/aaa-auto-loans-overview/
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9/8/12: PenFed sent me an email saying cars with more than 100k are only eligible for 24 month loans.
9/9/12: Follow-up phone call confirmed that >100k can be no longer than 24 months. Mileage over 125k is not eligible for a loan.
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FYI : If you get their loan, the insurance requirement is 500 deductible for the car that is being financed. At least when I got their loan a year ago. So check it out.
AAA members can join penfed for free https://www.penfed.org/aaa-auto-loans-overview/
[COLOR="Red"]
9/8/12: PenFed sent me an email saying cars with more than 100k are only eligible for 24 month loans.
9/9/12: Follow-up phone call confirmed that >100k can be no longer than 24 months. Mileage over 125k is not eligible for a loan.
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.
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Like the price I paid for a car is $27,400 and the same model is being shown for a target price of $29,421. The interest rate I got approved by the dealer was 2.54% ( But I have a lot of debt and did purchase another car only a month back).
You can also get better pricing from the dealer if you use their finance.. and then refinance as there is no prepayment penalty. ( of course you should have the patience to shop around and do some leg work as always to save $$$)
I am thinking of refinancing it with the 1.49%
Keep in Mind: If refinancing a PenFed loan, you must apply for an additional $5,000. 15% down payment for 72 month loan term is required.
So do I need to give 15% down and do a 72 month? Why do I need to apply for an additional $5000?
Anyone know?
Keep in Mind: If refinancing a PenFed loan, you must apply for an additional $5,000. 15% down payment for 72 month loan term is required.
So do I need to give 15% down and do a 72 month? Why do I need to apply for an additional $5000?
Anyone know?
Sign up for a Slickdeals account to remove this ad.
www.penfed.org
I applied but didn't get an instant decision. I am being referred to an agent and my application is being reviewed......
refi through military and had it dropped to 12%
can i refi this again to get this 1.4%
refi through military and had it dropped to 12%
can i refi this again to get this 1.4%
22% apr
refi through military and had it dropped to 12%
can i refi this again to get this 1.4%
~JS