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PenFed Credit Union Auto Loan & Car Buying Service

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About PenFed Credit Union Auto Loans

The PenFed Credit Union Auto Loan & Car Buying Service from PenFed Credit Union is one of the top-rated Auto Loans options evaluated on MoneyCompared, earning an overall product score of 9.5/10. Low-rate credit union auto loan offering up to 125% financing for new and used vehicles plus extra rate reductions when using the PenFed Car Buying Service.

Key highlights include 4.79% - 17.99% Fixed APR (with Car Buying Service), a fee structure of $0 Origination Fee, $0 Prepayment Penalty, and Up to 1.00% APR Discount & $2,000 Avg MSRP Savings via Car Buying Service. Accounts are backed by Open to All U.S. Residents via PenFed Membership and supported by PenFed Credit Union's 4.8 / 5.0-rated digital banking experience.

Features

Annual Fee	$0 Origination Fee, $0 Prepayment Penalty
Regular APR / Rate	4.79% - 17.99% Fixed APR (with Car Buying Service)
Intro Offer / Welcome Bonus	Up to 1.00% APR Discount & $2,000 Avg MSRP Savings via Car Buying Service
Savings APY / AER	Terms from 36 to 84 Months + Soft Credit Pull Pre-Qualification
Minimum Deposit	$500 Minimum ($150,000 Maximum)
Foreign Transaction Fee	N/A (U.S. Auto Financing)
Deposit Insurance	Open to All U.S. Residents via PenFed Membership
Mobile App Rating	4.8 / 5.0
Overall Rating	9.5 / 10

About Product

Annual / Monthly Fee: $0 Origination Fee, $0 Prepayment Penalty
APR / APY Rate: 4.79% - 17.99% Fixed APR (with Car Buying Service)
Intro Offer / Bonus: Up to 1.00% APR Discount & $2,000 Avg MSRP Savings via Car Buying Service
Key Benefits: Terms from 36 to 84 Months + Soft Credit Pull Pre-Qualification
Minimum Requirement: $500 Minimum ($150,000 Maximum)
Foreign Transaction Fee: N/A (U.S. Auto Financing)
Protection: Open to All U.S. Residents via PenFed Membership

Pros

Rate / APR / APY: 4.79% - 17.99% Fixed APR (with Car Buying Service)
Fee Structure: $0 Origination Fee, $0 Prepayment Penalty
Welcome Offer / Benefit: Up to 1.00% APR Discount & $2,000 Avg MSRP Savings via Car Buying Service
Rewards & Highlights: Terms from 36 to 84 Months + Soft Credit Pull Pre-Qualification

Cons