Refinancing Loans
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 icon

 

Auto Refinance with $150 Bonus1

Refinance your auto loan from another lender and receive a $150 bonus from PenFed.

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

NEW REFINANCE RATES

Vehicle's model year is or newer.

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


USED REFINANCE RATES

Pre-owned vehicles or vehicles with over 7501 miles.

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

FEATURES & BENEFITS

  • Earn a $150 bonus on refinance loans over $10,000
  • Loan amounts up to $100,000
  • Simple and transparent online application

• Average payment savings of $108 per month††

• Lower your rate to as low as % APR

• Finance for longer terms for extra flexibility in your budget

• Existing PenFed auto loans are not eligible for refinance


*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. Rate valid for model years 2016 and newer.

Disclosures Print Icon Print

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

1The auto refinance rebate of $150 is eligible on loan amounts of $10,000 and greater and must be refinanced from another institution. Applies to refinance loans funded between 02/12/2021 and 04/07/2021. PenFed internal refinances and loans originated from 3rd party partners are not eligible for this promotion. The $150 rebate will be deposited to the membership share savings account within 90 days of the loan disbursal date. At time of rebate posting, the loan must currently be active and have at least 1 payment posted in order to qualify. PenFed may discontinue or change the promotion at any time. Other restrictions may apply.

*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.

††Average payment savings of $108 per month was calculated by using the average monthly payment savings for PenFed Members from May 1, 2020–November 30, 2020 who refinanced auto loans.

Refinance Auto Loans: New vehicles are where you are the original owner and the vehicle is a current model year or newer and has less than 7501 miles. 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.

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

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 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 »

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

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 »

PenFed PenFed, Inc FREE - On Google Play