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05-27-2012, 02:12 PM | #24 |
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05-27-2012, 04:43 PM | #25 |
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Since the application is good for 3 months (before they need to run your credit again), do we have an option to get approved but not have them cut a check until closer to the car's delivery?
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05-27-2012, 07:27 PM | #26 |
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05-28-2012, 02:47 PM | #27 |
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I need to find out this info as well. I'll give them a call tomorrow. I should have my boss sold this week hopefully, and can move forward with ordering my m3.
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05-29-2012, 11:06 AM | #28 |
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Just called PenFed....
Once loan app is approved, they will cut you a check in both your name and the dealer's name. You don't make payments until the check is cashed by your dealer (i.e. you don't start making payments right away ). The check is good for 3 months, so I asked what happens if I don't take delivery of the car within the next 3 months. Check is void he says. But, before the 3 months expires, we can call PenFed back and have them cancel the current check and re-apply (shorter application process since they already have pertinent info and it's for the same car). In order to lock in the same 1.99% rate (in case rates have risen by then), it's important to call in before the 3 month expiration period and explain that the car has not arrived yet. Otherwise, no guarantee they will honor the initial 1.99 rate. Please share if you are getting a different answer |
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05-29-2012, 05:20 PM | #31 |
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05-29-2012, 11:43 PM | #32 |
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Here is the link to NFCU's eligibility process.
https://www.navyfederal.org/about/el...checklist.php# |
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05-29-2012, 11:55 PM | #33 | |
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Quote:
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05-30-2012, 12:53 AM | #34 |
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05-30-2012, 01:02 AM | #35 |
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06-01-2012, 03:40 PM | #39 |
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06-22-2012, 12:34 PM | #42 |
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I signed up last year to get the financing for the M3, but they asked for a lot of documentations. So, I ended up going with BMWFS which had a decent rate of 2.99%. I've never had a lower rate than that on ANY loans to date.
I kept the small checking account open and I recently applied for a smaller loan for a beater. No docs needed this time. Got approved online instantly. Great option for anyone looking for financing. 1.99% for 48 months(60 months is available). I'll have both cars paid off in 4 years. hahaha Thanks OP for posting, I might not have looked at penfed again if it wasn't for your post.
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2011 E92 l SSII l Fox Red - 145k and Totaled. 2012 Toyota Prius C - 145k and Totaled. 2002 Nissan Pathfinder - 301.6K and Junked. 2000 Mitsubishi Montero Sport - Rolled & Totaled. 1995 Cadillac Fleetwood - RIP. |
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06-29-2012, 02:42 PM | #44 |
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I got 1.64 thru service credit union for up to 70 months. Best I have ever seen. They will match and beat just about any rate you can find, although I was told that 1.64 is their "floore". Credit score is also pretty good- 777.
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