Auto Loans Overview
  • New Auto Loan

    New Auto Loan



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    • For new vehicles of the current and previous model year
    • Up to 110% financing available
    • Easy online application
    • You may even get an instant decision
    APR as low as* Term Loan Amount Approx. Loan Pmt. ($20,000 Loan)
    1.49% APR 36 months $500 to $100,000 
    $568.41 
    1.49% APR 48 months $7,500 to $100,000  
    $429.47 
    2.24% APR 60 months $10,000 to $100,000 
    $352.66  
    2.74% APR 72 months $20,000 to $100,000 
    $301.55 
     
    • Terms available up to 72 months
    • Preapproved auto drafts available to qualified buyers
    • Loan amounts up to $100,000 
    • After you have made at least 12 payments, you may qualify to extend your loan and lower your payments.
    Get Started
    Used Auto Loan

    Used Auto Loan



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    • For used vehicles of current or earlier model years
    • Up to 110% financing available
    • Easy online application
    • You may even get an instant decision
    APR as low as* Term Loan Amount Approx. Loan Pmt. ($20,000 Loan)
    1.99% APR 36 months $500 to $100,000 
    $572.76 
    2.49% APR 48 months $7,500 to $100,000 
    $438.19 
    2.99% APR 60 months $10,000 to $100,000 
    $359.28 
     3.49% APR 72 months††  $20,000 to $100,000 
    $308.28 

    ††Rate valid for current (2015) and prior two model years (2014 & 2013).

     

    • Terms available up to 72 months
    • Preapproved auto drafts available to qualified buyers
    • Loan amounts up to $100,000 
    • After you have made at least 12 payments, you may qualify to extend your loan and lower your payments.
    Get Started
    Refinance Auto Loan

    Refinance Auto Loan



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    • Refinance your vehicle at PenFed and save!
    • Save money with lower payments
    • Easy online application
    • Up to 100% financing available

    Refinance New Auto Loan

    APR as low as* Term Loan Amount Approx. Loan Pmt. ($20,000 Loan)
    1.49% APR 36 months $500 to $100,000 
    $568.41 
    1.49% APR 48 months $7,500 to $100,000  
    $429.47 
    2.24% APR 60 months $10,000 to $100,000 
    $352.66 
    2.74% APR 72 months   $20,000 to $100,000 
    $301.55 

    Rate valid for current (2015) and prior model year (2014).

     

    Refinance Used Auto Loan

    APR as low as* Term Loan Amount Approx. Loan Pmt. ($20,000 Loan)
    1.99% APR 36 months $500 to $100,000 
    $572.76 
    2.49% APR 48 months $7,500 to $100,000  
    $438.19 
    2.99% APR 60 months $10,000 to $100,000 
    $359.28 
    3.49% APR 72 months††   $20,000 to $100,000 
    $308.28 

    ††Rate valid for current (2015) and prior two model years (2014 & 2013).

    • Terms available up to 72 months
    • Loan amounts up to $100,000 
    Get Started
    PenFed Car Buying Service

    PenFed Car Buying Service



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    • Lower loan rates available when using the PenFed Car Buying Service.
    • Low Price Guarantee on new cars
    • Save $3,2211 with PenFed Car Buying Service
    • Get a low upfront price in writing from Certified Dealers

    Car Buying Service New Auto Loan

    APR as low as* Term Loan Amount Approx. Loan Pmt. ($20,000 Loan)
    0.99% APR 36 months $500 to $100,000 
    $564.08 
    0.99% APR 48 months $7,500 to $100,000  
    $425.14 
    1.99% APR 60 months $10,000 to $100,000 
    $350.47 
    2.74% APR 72 months $20,000 to $100,000 
    $301.55 
     

    Car Buying Service Used Auto Loan

    APR as low as* Term Loan Amount Approx. Loan Pmt. ($20,000 Loan)
    1.99% APR 36 months $500 to $100,000 
    $572.76 
    2.49% APR 48 months $7,500 to $100,000  
    $438.19 
    2.99% APR 60 months $10,000 to $100,000 
    $359.28 
    3.49% APR 72 months††   $20,000 to $100,000 
    $308.28 

    ††Rate valid for current (2015) and prior two model years (2014 & 2013).

    • Terms available up to 72 months
    • Loan amounts up to $100,000 
    Find a car
    Payment Saver New Auto Loan

    Payment Saver New Auto Loan



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    • Payment Saver for new vehicles of the current or previous model year
    • More car for your money
    • The vehicle is yours, this is not a lease
    • Complimentary GAP insurance is included
    Rate Term Loan Amount
    1.74% APR 24 to 36 months $10,000 to $100,000 
    2.24% APR 37 to 48 months $10,000 to $100,000 
    2.49% APR 49 to 60 months $10,000 to $100,000 

    Never titled current (2015) and previous model years (2014). 

    Loan Payment Example: A $27,000 new auto financed at 2.49% APR; 60 monthly payments of approximately $379.00 each, with a final balloon payment of approximately $6,729.00.

    • No prepayment penalties or wear and tear clause
    • Loan amounts up to $70,000
    • Terms available up to 60 months
    Get Started
    Payment Saver Used Auto Loan

    Payment Saver Used Auto Loan



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    • Payment Saver for used vehicles of the current or previous two model years
    • More car for your money
    • The vehicle is yours, this is not a lease
    • Complimentary GAP insurance is included
    Rate Term Loan Amount
    2.24% APR 24 to 36 months $10,000 to $100,000 
    2.74% APR 37 to 48 months $10,000 to $100,000 
    3.24% APR 49 to 60 months $10,000 to $100,000 

    Rate valid for current  (2015) and previous two model years (2014 & 2013). 

    Loan Payment Example: A $27,000 used auto financed at 3.24% APR; 60 monthly payments of approximately $415.00 each, with a final balloon payment of approximately $5,140.00.

    • No prepayment penalties or wear and tear clause
    • Loan amounts up to $100,000 
    • Terms available up to 60 months
    Get Started
  • Get as low as 0.99% APR on new cars with PenFed's Car Buying Service.
        
     
  • Details and Disclosures

  • Rates and offers current as of July 7, 2015 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 (2015) or prior model year (2014). Up to 110% financing is available.  Weight restrictions apply. Minimum loan amount $20,000 for 61-72 month term. In order to refinance an existing PenFed auto loan, the current rate must be equal to or greater than the rate on your existing PenFed auto loan.  Rate depends on term.  Other restrictions including vehicle and mileage limitations may apply. “Smart” Car Collateral Restrictions: Financing available up to 110% of the Manufacturer's Suggested Retail Price (MSRP) including tags, title, taxes and extended warranties. Some restrictions apply.  Financing is not available with a Payment Saver Loan for “Smart” cars, Trucks (including hybrids), and SUVs (including hybrids).

     

    Rates as low as 1.49% APR apply to new vehicle loan amounts up to $100,000 financed for 12-36 months. Rates as low as 1.49% APR apply to new vehicle loan amounts up to $100,000 financed 37-48 months. Rates as low as 2.24% APR applies to new vehicle loan amounts up to $100,000 financed for 49-60 months. Rates as low as  2.74% APR apply to new vehicle loan amounts finance for 61-72 months.

     

     

    Used Auto Loans: Maximum used car loan advance will be determined by PenFed using a NADA value. Financing is available up to NADA average retail value plus tags, title, taxes and extended warranties not to exceed 110%. Some restrictions apply.  In order to refinance an existing PenFed auto loan, the current rate must be equal to or greater than the rate on your 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 12-36 months. Rates as low as  2.49% APR apply to used vehicle loan amounts up to $100,000 financed for 37-48 months. Rates as low as  2.99% APR apply to used vehicle loan amounts up to $100,000 financed for 49-60 months. Rates as low as 3.49% APR apply to used vehicle loan amounts finance for 61-72 months. Financing for 61-72 months would be limited to the current (2015) and prior two model years (2014 & 2013). Rate depends on term. Other restrictions including vehicle and mileage limitations may apply.


    Refinance Auto Loans: New vehicles are where you are the original owner and the vehicle is a current (2015) and prior model year (2014). For used vehicles, maximum used car loan advance will be determined by PenFed using a NADA value. Up to 100% financing is available to qualified members.  In order to refinance an existing PenFed auto loan, the current rate must be equal to or greater than the rate on your existing PenFed auto loan. 

     

    “Smart” Car Collateral Restrictions: Total financing is limited to 100% of the value and loan terms cannot exceed 60 months.  Financing is not available with a Payment Saver Loan for “Smart” cars, Trucks (including hybrids), and SUVs (including hybrids).

     

    Rates as low as 1.49% APR apply to new vehicle loan amounts up to $100,000 financed for 12-36 months. Rates as low as 1.49% APR apply to new vehicle loan amounts up to $100,000 financed for 37-48 months. Rates as low as 2.24% APR apply to new vehicle loan amounts up to $100,000 financed for 49-60 months. Rate depends on term. Other restrictions including vehicle and mileage limitations may apply.

     

    Payment Saver Auto Loans:  

    How It Works 

    With Payment Saver Auto Loans, you will be able to make a lower payment than what the conventional auto loan would offer, yet at a higher interest rate. Then, at the end of the loan, you will owe the remaining balance of the loan itself. At this juncture, you may choose to pay off the loan or sell, trade, or refinance the vehicle.

    Your Payment Saver Auto Loan payment is calculated based on the loan term, the amount you have requested, and the residual value of the vehicle. The residual is the expected value of your vehicle at the end of your loan term.

    The difference between your loan amount requested and the residual value is amortized over the loan term, resulting in a low monthly payment without the danger of your becoming upside-down in the loan.

    **Not a guarantee to refinance. Refinancing subject to Pentagon Federal current creditworthiness standards.

    The residual value of the vehicle after the loan term is an estimation. We cannot guarantee this value. The residual value is subject to current used car market conditions and depends on a number of factors including, but not limited to, the mileage the car has been driven and the condition of the car at the end of the loan term.

    Trucks, Vans, Crossover Vehicles, Smart cars and SUVs are not eligible as Payment Saver Loan vehicle types. This restriction includes hybrid trucks and SUVs as well.

    Pre-approved drafts no longer available for Payment Saver loans.

    NEW VEHICLES: Never titled; Current (2015) and prior model year (2014).

    USED VEHICLES: Current (2015) and prior two model years (2014 & 2013).

    The vehicle mileage may not exceed 15,000 miles per year based on the model year.

    Used car loan value based on NADA Retail Value. Other restrictions may apply. Call 800-247-5626 for details.


    Loan Payment Example: A $27,000 new auto financed at 2.49% APR; 60 monthly payments of approximately $379.00 each, with a final balloon payment of approximately $6,729.00.