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Auto Refinance Loan
See your rate with no impact to your credit score.1
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 | $ |
$ |
|
| 84 mos | $ |
$ |
FEATURES & BENEFITS
- Loan amounts up to $150,000
- Simple and transparent online application
- Up to 125% financing
• Pre-qualify online in minutes without impacting your credit score1
• Average payment savings of $108 per month††
• Lower your rate to as low as % APR
• 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.
The minimum loan amount is $500 and the maximum amount cannot exceed $150,000
You pay $14 less per month with PenFed
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.
Extended Warranty
PenFed's Extended Warranty can extend your auto manufacturer's warranty by picking up where that policy leaves off.
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.
Disclosures
To receive any advertised product, you must become a member of PenFed Credit Union which includes opening a $5 PenFed savings account.
Rates and offers current as of![]( "Car Rate Effective")
and are subject to change.
1The initial inquiry will be a soft pull that will not affect your credit score. If you choose to initiate a loan application after checking your rates, you will be required to authorize a full credit report inquiry, which would be considered a hard pull and may affect your credit.
*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.
††Average monthly payment savings of $108 per month was calculated based on the average monthly payments offered to PenFed members compared to their prior average monthly payments between May 1, 2020 and November 30, 2020. Each applicant’s savings may depend on each applicant’s new interest rate, term, and/or third party fees. For example, an applicant has a current vehicle loan with an amount of $24,227, an interest rate of 4.62%, loan term of 60 months, and monthly payment of $453. If that applicant refinances with PenFed for an amount of $24,227 an interest rate of![]( "New Auto 72")
% and loan term of 72 months, that member would have a monthly payment of approximately $362, and their average monthly payment savings would be $91. Your savings may be different. Please visit https://www.penfed.org/calculators/auto-loan-calculators to get your estimated monthly payment.
Refinance Auto Loans: New vehicles are where you are the original owner and the vehicle is a current![]( "Auto Loans Previous Year")
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 JD Power value. Up to 125% financing is available in the U.S. Up to 110% financing is available in Puerto Rico and Virgin Islands. PenFed does not permit internal refinances of an existing PenFed auto loan. For the 84-month loan term, eligible used vehicles must have model years as new as or newer than the current calendar year minus five years and less than 60,000 miles.
Rate depends on term. Vehicle weight and mileage restrictions apply.
Loan Payment Example: A $20,000 new auto loan financed at![]( "New Auto Refi 60")
% APR would amount to 60 monthly payments of approximately $![]( "Auto Loan Example New Refi 60 Months")
each.