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Penfed

PenFed

Compare between PenFed and other vendors

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Pros
  • Bonus cash offers on select car models
  • GAP Insurance & ADR
  • Low APR rates
  • Approval within 48 hours
  • Competitive APR (annual percentage rate) as low as 2.09%
  • Great deals with huge discounts when purchasing a car through its auto-buying service
  • Offers for credit union members
  • Auto loans can go up to 110% of the vehicle value
  • Simple and straightforward online application
Cons
  • Membership required to get a loan
  • Social Security number required with initial application
  • Best rates are available only for excellent credit scores
  • You need to open a saving account before you can get a loan
Selling Points
  • Bonus cash offers on select car models
  • GAP Insurance & ADR
  • Competitive APR (annual percentage rate) as low as 0.99%
  • Approval within 48 hours
  • Great deals with huge discounts when purchasing a car through its auto-buying service
Available Car Options
  • Undisclosed
    Used
Customer Support
  • Articles and Videos
  • Undisclosed
    Email
  • Email Support
  • Undisclosed
    FAQs
  • Undisclosed
    Help Guides
  • Live Chat
  • Undisclosed
    Phone
  • Phone Support
Eligibility (Credit Score)
  • Undisclosed
    Accepts all Credit Types
  • Doesn't Cover Bad Credit
Features
  • APRs (Annual Percentage Rate) Vary
  • Mobile Application
  • Requires Minimum Credit Score
  • Test Drive
Money-Back Guarantee
  • Undisclosed
    Yes
Multiple Financing Options
  • Lease Buyout
  • New Auto
  • Private Party
  • Refinance
  • Used Auto
Payment Options
  • Automatic Payments (ACH Transactions)
  • Undisclosed
    Cash
  • Cash Payments
  • Debit or Credit cards
  • Mailed Payments
  • Undisclosed
    Major Credit Cards
Protection
  • Extended Warranty
  • GAP Insurance
  • Undisclosed
    Limited Warranty
  • Undisclosed
    Return Policy
FAQs
What credit score allows me to qualify for an auto loan from PenFed?
How long does PenFed pre-approval take?
Which credit report will PenFed use?
Does PenFed Credit Union operate nationwide?
Do I need to become a union member to get a loan?
What other loans does PenFed offer?
Does PenFed have a money-back guarantee?
What guarantees does PenFed offer?
How long does it take to get approved by PenFed?
How long does the prequalification last?
Does PenFed offer an online application?
Who is eligible to join PenFed?
Does PenFed require a minimum credit score?
What information I need to provide when apply for a prequalification?
What is the maximum loan amount I can get with PenFed?
What is the maximum auto loan term?