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*APR = Annual Percentage Rate. Your application and credit information will be used to determine your actual APR, which will be determined at the time of disbursement. Not all applicants will qualify for the lowest rate. Rates quoted assume excellent borrower credit history.
Apply for a loan, receive a decision, and join PenFed if you are not already a member. Click “Apply Now” to start!.
Current as of and subject to change are the rates and offers.
Pre-qualification Disclosure: The first pull will be a soft pull and won’t have any impact on your credit score. You will be required to consent to a full credit report inquiry, which is referred to as a hard pull and could have an impact on your credit, if you decide to apply for a loan after looking at your rates.
*APR = Annual Percentage Rate. Your application and credit information will be used to determine your actual APR, which will be determined at the time of disbursement. Rates quoted assume excellent borrower credit history. Not all applicants will qualify for the lowest rate.
New Auto Loans: Loan rate applicable to new vehicles only. When a vehicle is new, it means that you are the first owner, the model year or newer, and the mileage is under 7,501. Up to 125% financing is available in the U. S. Puerto Rico and the Virgin Islands offer up to 110% financing. Vehicle weight and mileage restrictions apply.
Minimum loan amount is $ for 61-72 month term. Minimum loan amount $ for 73-84 month term. Rate also depends on term.
New Auto Loan Calculator Purchase Price
Typical car insurance covers damage and theft. However, what happens if the amount owed on your loan exceeds the value of your car? PenFed’s GAP Protection will pay the difference.
By continuing where that policy ends, PenFeds Extended Warranty can prolong the manufacturer’s warranty on your vehicle.
Life is unpredictable. Your family’s financial stability is safeguarded with PenFed Debt Protection in the event that you are unable to make your payments on time.
Is PenFed good for car loans?
PenFed may be a good fit for those who: Are interested in receiving a rate discount and reduced vehicle pricing when they apply for a new or used car through the online service PenFed advertises rates as low as 0. 99% for borrowers with excellent credit and a 36-month term. Are looking for a lower loan amount minimum.
What credit score is needed for a PenFed auto loan?
Although PenFed does not disclose a minimum credit score requirement, most auto loan providers typically reserve their best rates for borrowers with credit scores over 660. If your credit needs a little work, there are many lenders who offer bad-credit auto loans, and you can check your score here for free.
Can anyone get a PenFed auto loan?
Even if you are not a member yet, you can still apply online for a PenFed auto loan. Before you apply, visit PenFed. org/auto for information about PenFed’s auto loan products and rates.
How long is a PenFed auto loan approval good for?
Offer expires. It’s better to wait until you’re (almost) ready to buy before applying for an auto loan because the majority of pre-approvals are only valid for 30 to 60 days.