For a limited time, earn a $200 bonus1 when you purchase through

PenFed Car Buying Service

TrueCar (R)

Find a NEW car

Find a USED car


How the Car Buying Service Works

save with carbuying service

1. Search for a New or Used Car

New: Find the new car you want and see what others are paying.

Used: Search the extensive inventory for the perfect used car.

access to more incentives

2. Lock in Savings

Once you find the car you like, connect with a Certified Dealer by completing the contact form to see your membership pricing.

get great loan rates with carbuying service

3. Apply Online

Give PenFed a call when you have selected your vehicle to finalize your financing, and your check and loan documents will be on their way.

earn buyers bonus in reimbursement  benefits

4. Visit Dealer - Drive Away Happy

Visit your Certified Dealer and test drive your car. Love it? Let the dealership know you have financing approved with PenFed.

Contact us at 800-247-5626 or by email at to finalize your Car Buying Service Auto Loan.


Save with PenFed Car Buying Service

Upfront Pricing

Search in-stock inventory and get an upfront price offer from a local dealer

Additional cash incentives

Additional Cash Incentives

Members-only cash back offers from select manufacturers

Loan discount

Loan Discount

Rates as low as % APR* on new cars up to 36 months


Buyer’s Bonus

Up to $1,000 in auto deductible reimbursement for buyers


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.

New Vehicle Loan Payment Example: $20,000 at % APR; 36 monthly payments of approximately $

New Vehicle Loan Payment Example: $20,000 at % APR; 60 monthly payments of approximately $

Used Vehicle Loan Payment Example: $20,000 at % APR; 60 monthly payments of approximately $

Used Vehicle Loan Payment Example: $20,000 at % APR; 72 monthly payments of approximately $

1The auto purchase and refinance rebate of $200 will apply to loan amounts of $10,000 and greater. Refinance loans must be refinanced from another institution. Applies to new and used purchase and refinance loan applications funded through PenFed between 12/19/2022 and 1/31/2023.  Dealer originated loans, PenFed internal refinances, and refinance loans originated from 3rd party partners are not eligible for this promotion. Loan must be currently active and have at least 2 payments posted by 5/1/23 in order to qualify for the rebate.  The $200 rebate will be deposited to the member share savings account in May 2023.  PenFed may discontinue or change the promotion at any time.  Other restrictions may apply.

New Auto Loans: Loan rate applicable to new vehicles only. New vehicles are where you are the original owner and the untitled vehicle is model year or newer with less than 7501 miles. Up to 125% financing is available in the U.S. Up to 110% financing is available in Puerto Rico and Virgin Islands. Vehicle weight and mileage restrictions apply.

Minimum loan amount is $ for 61-72 month term. Rate also depends on term.

Used Auto Loans: Maximum used car loan advance will be determined by PenFed using a JD Power value. Financing is available up to the JD Power valuation plus tags, title, taxes and extended warranties not to exceed 125% in the U.S. Up to 110% financing is available in Puerto Rico and Virgin Islands. Some restrictions apply. Call 1-800-247-5626 for details.

Rate depends on term. Vehicle weight and mileage restrictions apply.

PenFed Car Buying Service

PenFed Car Buying Service is available in all 50 states.

Your actual savings may vary based on multiple factors, including the vehicle you select, region, dealer, and applicable vehicle-specific manufacturer incentives, which are subject to change. The MSRP is determined by the manufacturer and may not reflect the price at which vehicles are generally sold in the dealer's trade area, as many vehicles are sold below MSRP. Each dealer sets its own pricing.

PenFed Automobile Deductible Reimbursement

Requires reporting of completed qualified purchases within 45 days of purchase date. Reimburses what you've paid, if anything, for your automobile insurance deductible when you file a claim on the purchased vehicle within 365 days of registering in program. Covers up to $500 2x a year (service not available in New Hampshire or New York). To learn more about this program see TrueCar's Program Details and Terms and Conditions.

GAP protection

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.


Find Extended Warranty

Extended Warranty

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


Find Debt Protection

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.