Great Financing Rates at PenFed

ThinkRevolutionx · 07-11-2012, 09:52 PM

Can you be eligible by just using someones name? If so, anyone care to share ? :P

Johndong888 · 08-07-2012, 05:19 PM

Quote:

Originally Posted by ThinkRevolutionx

Can you be eligible by just using someones name? If so, anyone care to share ? :P

You could try Barack Hussein Obama II

Their rates are great, I just applied but it's pending. We shall see...

kmarei · 08-08-2012, 08:23 PM

Quote:

Originally Posted by Johndong888

You could try Barack Hussein Obama II

Isn't that the Muslim that was born outside the US?

cooler2442 · 08-08-2012, 08:49 PM

Only negative seems to be that they have a prepayment cost if you pay it off sooner than the 60months which kind of sucks.

tbone28 · 08-08-2012, 10:42 PM

Quote:

Originally Posted by cooler2442

Only negative seems to be that they have a prepayment cost if you pay it off sooner than the 60months which kind of sucks.

I couldn't find that. Do you have a link to it?

cooler2442 · 08-08-2012, 11:03 PM

Quote:

Originally Posted by tbone28

I couldn't find that. Do you have a link to it?

Sorry, I don't. Sent it to a friend who said they went through the whole process and right before the end they were reading all the terms and it talked about the penalty for paying early. Not sure if its 100% correct but that's what that friend said.

Lagunae92 · 08-08-2012, 11:25 PM

1.49 now

thecakeisalie · 08-09-2012, 07:03 AM

Quote:

Originally Posted by cooler2442

Sorry, I don't. Sent it to a friend who said they went through the whole process and right before the end they were reading all the terms and it talked about the penalty for paying early. Not sure if its 100% correct but that's what that friend said.

Sneaky. I wonder how much they charge. Western Federal mentioned above in the thread has slightly higher rates but the site also says no prepayment penalties. Hmm.

PhillyNate · 08-09-2012, 07:12 AM

Quote:

Originally Posted by kmarei

Isn't that the Muslim that was born outside the US?

Yes, that is the hater contention.

luv135i · 08-11-2012, 09:44 PM

Penfed has no prepayment penalty. My last loan at 1.99 i paid off in 28 months no penalty

tbone28 · 08-24-2012, 04:14 PM

Quote:

Originally Posted by cooler2442

Only negative seems to be that they have a prepayment cost if you pay it off sooner than the 60months which kind of sucks.

Just received my loan docs. No prepayment penalty.

cmpe · 08-24-2012, 04:24 PM

Hey guys, how does this work exactly? The last car I bought, financed it with the dealership so they just took care of everything.

Going through a 3rd party like penfed, do I need to apply for the loan before everything is finalized with the dealer?

gatorfast · 08-24-2012, 04:39 PM

Quote:

Originally Posted by cmpe

Hey guys, how does this work exactly? The last car I bought, financed it with the dealership so they just took care of everything.

Going through a 3rd party like penfed, do I need to apply for the loan before everything is finalized with the dealer?

Yes you would want to get prequalified with penfed and have them send you a check for the price of the car. Then go to the dealership and buy it.

Or you can just buy and finance through the dealer and then immediately refinance through penfed.

cmpe · 08-24-2012, 05:52 PM

Quote:

Originally Posted by gatorfast

Yes you would want to get prequalified with penfed and have them send you a check for the price of the car. Then go to the dealership and buy it.

Or you can just buy and finance through the dealer and then immediately refinance through penfed.

Thanks. Is it also possible to get the loan day-of?

gatorfast · 08-24-2012, 07:17 PM

Quote:

Originally Posted by cmpe

Thanks. Is it also possible to get the loan day-of?

With penfed no. I believe they will only send funds via check meaning you need to work out the details ahead of time.

If you need the funds urgently then I suggest just financing through the dealer and then refinancing with penfed. I bought my m3 on a whim and didn't have time to arrange for financing ahead of time so I just financed through the dealer then called penfed the next day.

showcase · 08-24-2012, 07:34 PM

Quote:

Originally Posted by socc11girl

If anyone is looking for a great financing rate, I would suggest to check out Pentagon Federal Credit Union.

https://www.penfed.org/

Currently, the rate is as low as 1.99% for up to 5 years of financing!

To become a member, it is free if you are military, but if you aren't you just need to pay $15 to one of their associations and then you can become a member.

The website states that the 1.99 rate is online only, but I called in and did the application over the phone, and I still received that rate. It was a really simple approval process.

Ahhhhhhh, I just bought a 2010 M3 and have perfect credit. The best I was able to do was 2.7% from a credit union, but I wasn't able to go through with it due to other complications. I ended up havingn to go with dealer financing and was able to talk their original 4.9% down to 3.74%. Wish I would have seen this post earlier.

BTW, I live in Orlando as well. East Orlando to be exact.

truths2k05 · 08-24-2012, 08:00 PM

Quote:

Originally Posted by showcase

Ahhhhhhh, I just bought a 2010 M3 and have perfect credit. The best I was able to do was 2.7% from a credit union, but I wasn't able to go through with it due to other complications. I ended up havingn to go with dealer financing and was able to talk their original 4.9% down to 3.74%. Wish I would have seen this post earlier.

BTW, I live in Orlando as well. East Orlando to be exact.

2011 on up only for the refi

cmpe · 08-24-2012, 09:10 PM

Quote:

Originally Posted by gatorfast

With penfed no. I believe they will only send funds via check meaning you need to work out the details ahead of time.

If you need the funds urgently then I suggest just financing through the dealer and then refinancing with penfed. I bought my m3 on a whim and didn't have time to arrange for financing ahead of time so I just financed through the dealer then called penfed the next day.

Thanks gator!

mxa121 · 08-26-2012, 06:14 AM

anyone here use penfed and Not get the lowest rate??

X2Board · 08-26-2012, 09:13 AM

I just used Penfed for my 2010 E90. I was to close on a loan from my credit union last week and found this thread the night before that. The best my CU could do was 2.49. Penfed beat them by a full point at 1.49.

830 Fico.

LOVEM · 08-30-2012, 05:41 PM

Quote:

Originally Posted by kmarei

Isn't that the Muslim that was born outside the US?

Its kinda offensive bringing up the RELIGION

kmarei · 08-31-2012, 08:33 AM

Quote:

Originally Posted by LOVEM

Its kinda offensive bringing up the RELIGION

Less so when I'm Muslim and I'm being sarcastic

I know he's not Muslim, it was in reference to all the crazy republicans who think he's a Kenyan Muslim

07-11-2012, 09:52 PM	#45
ThinkRevolutionx Private 26 Rep 94 Posts Drives: Raptor Join Date: Feb 2009 Location: New York iTrader: (0)	Can you be eligible by just using someones name? If so, anyone care to share ? :P
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08-08-2012, 08:49 PM	#48
cooler2442 Brigadier General 477 Rep 4,154 Posts Drives: 1/18 Monte Carlo Blue E92 M3 Join Date: Apr 2011 Location: Los Angeles iTrader: (6) Garage List 2016 Porsche GT4 [0.00]	Only negative seems to be that they have a prepayment cost if you pay it off sooner than the 60months which kind of sucks.
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08-08-2012, 11:25 PM	#51
Lagunae92 Captain 74 Rep 753 Posts Drives: BMW e92 M3 Laguna Seca Blue Join Date: Jul 2009 Location: Long Beach iTrader: (0)	1.49 now __________________ 2009 e92 M3 Individual Laguna Seca Blue\|Black Novillo\|DCT\|19"rims\|Carbon Leather\|Premium\|Tech.\|Heated Seats\|Prem. Sound\|iPod\| Mods: \|Electronic Performance Steering Wheel\|ZCP CF Spoiler\|ZCP CF Spliters\|ZCP CF Mirrors\|Edition Front Grilles\|Edition Side Grilles\|BMW Performance Brake Handle\|3D Design Pedals\| Style Rumore Exhaust\|H&R Springs\|LCI Tails\|Challenge CF Door Panels\|
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08-11-2012, 09:44 PM	#54
luv135i Major 60 Rep 1,073 Posts Drives: White Join Date: Nov 2009 Location: GA iTrader: (0)	Penfed has no prepayment penalty. My last loan at 1.99 i paid off in 28 months no penalty
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08-24-2012, 04:24 PM	#56
cmpe New Member 1 Rep 17 Posts Drives: N/A Join Date: Jul 2012 Location: USA iTrader: (0)	Hey guys, how does this work exactly? The last car I bought, financed it with the dealership so they just took care of everything. Going through a 3rd party like penfed, do I need to apply for the loan before everything is finalized with the dealer?
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08-26-2012, 06:14 AM	#63
mxa121 Major 226 Rep 1,064 Posts Drives: M Join Date: Apr 2012 Location: United States iTrader: (3)	anyone here use penfed and Not get the lowest rate??
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08-26-2012, 09:13 AM	#64
X2Board Lieutenant Colonel 444 Rep 1,643 Posts Drives: I'm back, bitches! '13 E92 ZCP Join Date: Feb 2011 Location: Wake Forest, NC iTrader: (1)	I just used Penfed for my 2010 E90. I was to close on a loan from my credit union last week and found this thread the night before that. The best my CU could do was 2.49. Penfed beat them by a full point at 1.49. 830 Fico. __________________ 2013 Jerez Black/Black E92 ZCP DCT - I'm back!! 2014 Guards Red 991 C2S 7MT - Gone. 2015 YMB/SS F80 M3 6sp - Gone 2011 Sapphire Black/Black E70 X5 M - Gone. 2010 Jerez Black/Black E90 M3 DCT -Gone-
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