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      07-11-2012, 09:52 PM   #45
ThinkRevolutionx
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Can you be eligible by just using someones name? If so, anyone care to share ? :P
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      08-07-2012, 05:19 PM   #46
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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...
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      08-08-2012, 08:23 PM   #47
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You could try Barack Hussein Obama II
Isn't that the Muslim that was born outside the US?
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      08-08-2012, 08:49 PM   #48
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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, 10:42 PM   #49
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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?
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      08-08-2012, 11:03 PM   #50
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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.
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      08-08-2012, 11:25 PM   #51
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1.49 now
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      08-09-2012, 07:03 AM   #52
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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.
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      08-09-2012, 07:12 AM   #53
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Isn't that the Muslim that was born outside the US?
Yes, that is the hater contention.
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      08-11-2012, 09:44 PM   #54
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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, 04:14 PM   #55
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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.
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      08-24-2012, 04:24 PM   #56
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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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      08-24-2012, 04:39 PM   #57
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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.
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      08-24-2012, 05:52 PM   #58
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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?
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      08-24-2012, 07:17 PM   #59
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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.
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      08-24-2012, 07:34 PM   #60
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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.
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      08-24-2012, 08:00 PM   #61
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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
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      08-24-2012, 09:10 PM   #62
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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!
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      08-26-2012, 06:14 AM   #63
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anyone here use penfed and Not get the lowest rate??
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      08-26-2012, 09:13 AM   #64
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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.
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      08-30-2012, 05:41 PM   #65
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Isn't that the Muslim that was born outside the US?
Its kinda offensive bringing up the RELIGION
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      08-31-2012, 08:33 AM   #66
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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
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