Penfed Auto Loans

Make Your Next Car Your Dream Car

Apply for a new or used auto loan today and get on the road in no time.

Looking for a car? Try our Car Buying Service!

AT A GLANCE

Our Most Popular Loan Options

Rates displayed are for all auto loans excluding residents of Puerto Rico. To receive the current auto loan rates for Puerto Rico, please contact us at 1-800-247-5626.

NEW AUTO LOAN

APR as low as* Term Loan Amount Approx. Loan Pmt.
($25,000 Loan)
% 36 mos $ - $ $
Apply Now

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

USED AUTO LOAN

APR as low as* Term Loan Amount Approx. Loan Pmt.
($20,000 Loan)
% 36 mos
$ - $ $
Apply Now

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

REFINANCE NEW AUTO LOAN

Borrower must be the original owner.

Vehicle's model year
is or .

APR as low as* Term Loan Amount Approx. Loan Pmt.
($25,000 Loan)
% 36 mos $ - $ $
Apply Now

To become a member and apply, follow these steps:

1. Apply for membership

2. Open a savings/share account with only $5

3. Complete your loan application

Details and Disclosures Print IconPrint Disclosure

Rates and offers current as of  and are subject to change.

*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. 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 untitled vehicle is a current () or prior model year (). Up to 110% financing is available. Weight restrictions apply. Minimum loan amount $ for 61-72 month term. Minimum loan amount $25,000 for 73-84 month term. “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).

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. Call 800-247-5626 for details.

Financing for 61-72 month term is valid for model years - . 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 () and prior model year (). 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. 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. Financing is not available with a Payment Saver Loan for “Smart” cars, Trucks (including hybrids), and SUVs (including hybrids).

Other restrictions including vehicle and mileage limitations may apply.

Estimate Your Costs

Auto Calculators

$
$
$
$

$ a month

Estimated payment (for months at APR)
Purchase Price
Down Payment
$0.0
Trade-In Value
-$0.0
Amount Owed on Trade
+$0.0
 
Total Financed
$
Total Interest
+ $
 
Total Loan
$
$
$
$
$

$ a month

Estimated payment (for months at APR)
Purchase Price
Down Payment
$0.0
Trade-In Value
-$0.0
Amount Owed on Trade
+$0.0
 
Total Financed
$
Total Interest
+ $
 
Total Loan
$

The minimum loan amount is $500 and the maximum amount cannot exceed $100,000

You pay $14 less per month with PenFed

$573
$586
PenFed Estimated Monthly Payment
Current Rate Estimated Monthly Payment
gap icon

GAP Protection

Typical car insurance covers damage and theft. But what if your loan is more than the value of your vehicle? PenFed’s GAP Protection covers that difference.

LEARN MORE »

warranty icon

Extended Warranty

PenFed's Extended Warranty can extend your auto manufacturer's warranty by picking up where that policy leaves off.

LEARN MORE »

debt protection icon

Debt Protection

Life is unpredictable. With PenFed Debt Protection, your family's financial security is protected in the event you're unable to make timely payments.

LEARN MORE »

MORE AUTO LOANS

REFINANCE USED AUTO LOAN

Vehicle's model year
is or earlier.

APR as low as* Term Loan Amount Approx. Loan Pmt.
($20,000 Loan)
% 36 mos $ - $ $
Apply Now

To become a member and apply, follow these steps:

1. Apply for membership

2. Open a savings/share account with only $5

3. Complete your loan application

CAR BUYING NEW AUTO LOAN

Vehicle's model year
is or .

APR as low as* Term Loan Amount Approx. Loan Pmt.
($20,000 Loan)
% 36 mos $ - $ $

CAR BUYING USED AUTO LOAN

Vehicle's model year
is or earlier.

APR as low as* Term Loan Amount Approx. Loan Pmt.
($20,000 Loan)
% 36 mos $ - $ $

PAYMENT SAVER NEW AUTO LOAN

Rate Term Loan Amount
% APR 49 to 60 mos  

Rate valid for current () and the previous model year ()

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

Apply Now

To become a member and apply, follow these steps:

1. Apply for membership

2. Open a savings/share account with only $5

3. Complete your loan application

PAYMENT SAVER USED AUTO LOAN

Rate Term Loan Amount
% APR 49 to 60 mos -

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

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

Apply Now

To become a member and apply, follow these steps:

1. Apply for membership

2. Open a savings/share account with only $5

3. Complete your loan application

Details and Disclosures Print IconPrint

Rates and offers current as of  and are subject to change.

*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. 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.

Refinance Auto Loans: New vehicles are where you are the original owner and the vehicle is a current () and prior model year (). 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. 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. Financing is not available with a Payment Saver Loan for “Smart” cars, Trucks (including hybrids), and SUVs (including hybrids).

Other restrictions including vehicle and mileage limitations may apply.

PenFed Car Buying Service:

PenFed Car Buying Service is available in the continental U.S. and Hawaii.
Between 7/1/16 and 9/30/16, the average savings off MSRP presented by TrueCar Certified Dealers to users of TrueCar powered websites, based on users who configured virtual vehicles and who TrueCar identified as purchasing a new vehicle of the same make and model listed on the certificate from a Certified Dealer as of 10/31/2016, was $3,106.

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. There is no guarantee of refinance. Refinancing subject to PenFed's current creditworthiness standards.

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.

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 () and prior model year ().

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

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 % APR; 60 monthly payments of approximately $ each, with a final balloon payment of approximately $.