New Auto Loan
 

Key Features

APR as low as*Term Loan Amount Approx. Loan Pmt. ($25,000 Auto)
1.49% APR 36 months $500 to $100,000 
$710.51 
1.99% APR 48 months $7,500 to $100,000  
$542.27 
1.99% APR 60 months $10,000 to $100,000 
$438.08 
2.74% APR 72 months $15,000 to $100,000 
$376.94 
2.99% APR 84 months $25,000 to $100,000 
$330.22 

 

*APR = Annual Percentage Rate. Your actual APR will be determined at the time of disbursement and will be based on your application and credit information. Not all applicants will qualify for the lowest rate. Rates quoted assume excellent borrower credit history.

Benefits

  • Terms available up to 84 months
  • Loan amounts up to $100,000 
  • Apply 0nline - You may even get an instant decision

 

Keep in Mind: New Auto loans are the current and previous model year; maximum term based on amount borrowed.

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Details and Disclosures

Rates and offers current as of September 1, 2016 and are subject to change.

*Annual Percentage Rate. Your actual APR will be determined at the time of disbursement and will be based on your application and credit information. Rates quoted assume excellent borrower credit history. Not all applicants will qualify for the lowest rate. The rate you receive on your loan will be the rate in effect at the time of loan disbursal.

 

New Auto Loans: Loan rate applicable to new vehicles only. New vehicles are where you are the original owner and the vehicle is a current (2017) and prior model year (2016). Up to 100% financing is available. Weight restrictions apply. Minimum loan amount $15,000 for 61-72 month term. Minimum loan amount $25,000 for 73-84 month term. PenFed does not permit internal refinances of an existing PenFed auto loan.

“Smart” Car Collateral Restrictions: Total financing is limited to 100% of the value and loan terms cannot exceed 60 months. 

Rates as low as 1.49% APR apply to new vehicle loan amounts up to $100,000 financed for up to 36 months. 

Rate depends on term. Other restrictions may apply.

Loan Payment Examples:

  • $25,000 at 1.49% APR; 36 monthly payments of approximately $710.51 each.
  • $25,000 at 1.99% APR; 48 monthly payments of approximately $542.27 each.
  • $25,000 at 1.99% APR; 60 monthly payments of approximately $438.08 each.
  • $25,000 at 2.74% APR; 72 monthly payments of approximately $376.94 each.
  • $25,000 at 2.99% APR; 84 monthly payments of approximately $330.22 each.

 

Used Auto Loans: Maximum used car loan advance is NADA “Retail Value” or 80% of the purchase price where NADA “Retail Value” is not available. Up to 100% financing is available to qualified members. Financing for 61-72 months would be limited to the current (2017) and prior two model years (2016 - 2015). PenFed does not permit internal refinances of an existing PenFed auto loan. Call 800-247-5626 for details.

Rates as low as 1.99% APR apply to used vehicle loan amounts up to $100,000 financed for up to 36 months. Rate depends on term. Other restrictions may apply.

Loan Payment Example:

  • $20,000 at 1.99% APR; 36 monthly payments of approximately $572.76 each.
  • $20,000 at 2.49% APR; 48 monthly payments of approximately $438.19 each.
  • $20,000 at 2.99% APR; 60 monthly payments of approximately $359.28 each.
  • $20,000 at 3.61% APR; 72 monthly payments of approximately $308.28 each.

 

Refinance New Auto Loans: New vehicles are where you are the original owner and the vehicle is a current (2017) and prior model year (2016). For used vehicles, maximum used car loan advance is NADA “Retail Value” or 80% of the purchase price where NADA “Retail Value” is not available. Up to 100% financing is available to qualified members. PenFed does not permit internal refinances of an existing PenFed auto loan.

“Smart” Car Collateral Restrictions: Total financing is limited to 100% of the value and loan terms cannot exceed 60 months. 

Rates as low as 1.49% APR apply to new refinanced vehicle loan amounts up to $100,000 financed for up to 36 months. Rate depends on term. Other restrictions may apply.

Loan Payment Examples:

  • $25,000 at 1.49% APR; 36 monthly payments of approximately $710.51 each.
  • $25,000 at 1.99% APR; 48 monthly payments of approximately $542.27 each.
  • $25,000 at 1.99% APR; 60 monthly payments of approximately $438.08 each.
  • $25,000 at 2.74% APR; 72 monthly payments of approximately $376.94 each.

 

Refinance Used Auto Loans: New vehicles are where you are the original owner and the vehicle is a current (2017) and prior model year (2016). For used vehicles, maximum used car loan advance is NADA “Retail Value” or 80% of the purchase price where NADA “Retail Value” is not available. Up to 100% financing is available to qualified members. Rate depends on term. PenFed does not permit internal refinances of an existing PenFed auto loan.

“Smart” Car Collateral Restrictions: Total financing is limited to 100% of the value and loan terms cannot exceed 60 months.

Rates as low as 1.99% APR apply to new refinanced vehicle loan amounts up to $100,000 financed for up to 36 months. Financing for 61-72 months would be limited to the current (2017) and prior two model years (2016 - 2015). Other restrictions may apply.

Loan Payment Examples:

  • $20,000 at 1.99% APR; 36 monthly payments of approximately $572.76 each.
  • $20,000 at 2.49% APR; 48 monthly payments of approximately $438.19 each.
  • $20,000 at 2.99% APR; 60 monthly payments of approximately $359.28 each.
  • $20,000 at 3.61% APR; 72 monthly payments of approximately $308.28 each.