Thread: Penfed?
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      11-01-2012, 12:08 PM   #18
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Drives: 13 BMW M5
Join Date: Jul 2011
Location: Frisco, TX

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Originally Posted by WW335 View Post
Has anyone used Penfed for a private sale? I have already negotiated a price with the seller and I am selling my car this weekend. I assume that after I have the final figures of my down payment and loan amount I can fill out the application on Penfed's web site?
I applied and was approved for an amount before finding the car I wanted. Once I found the the car I wanted to buy, I had to provide vehicle specific and seller information and they sent the check to me in the seller's name. It wasn't all too difficult a process although it took a couple more days to get the checks than they had originally told me; I was told at the time that their loan processing department was overloaded so it could be better now.