You can apply and view your prequalified loan offers with no impact to your credit. If you choose to accept a loan offer, PenFed will ask permission to obtain a full credit report that will result in a credit inquiry by PenFed reported to one or more credit bureaus.
New Auto Loan Calculator
Easily calculate your car payments, interest, and total loan cost with our new auto loan calculator.
Estimated Monthly Payment for at APR*
| Purchase Price | |
|---|---|
| Down Payment | − |
| Trade-In Value | − |
| Amount Owed on Trade | + |
| Total Financed | |
| Total Interest | + |
| Total Loan |
Find your perfect auto loan
NEW CAR
USED CAR
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36
Months
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48
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60
Months
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72
Months
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84
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Model Year |
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Pre-owned vehicles or vehicles with over 7,501 miles |
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Pre-owned vehicles or vehicles with over 7,501 miles |
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Model Year ![]( "Auto Loans Previous Year")
or newer & never titled
Model Year or newer & never titled
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36 Months
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48 Months
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60 Months
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72 Months
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84 Months
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Model Year ![]( "Auto Loans Previous Year")
or newer & never titled
Model Year or newer & never titled
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36 Months
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48 Months
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60 Months
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72 Months
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84 Months
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Pre-owned vehicles or vehicles with over 7,501 miles
Pre-owned vehicles or vehicles with over 7,501 miles
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36 Months
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|---|---|
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48 Months
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60 Months
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72 Months
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84 Months
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Pre-owned vehicles or vehicles with over 7,501 miles
Pre-owned vehicles or vehicles with over 7,501 miles
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36 Months
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|---|---|
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48 Months
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60 Months
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72 Months
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84 Months
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36
Months
|
48
Months
|
60
Months
|
72
Months
|
84
Months
|
||||
|---|---|---|---|---|---|---|---|---|
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Model Year |
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Pre-owned vehicles with over 7,501 miles |
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-
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Model Year ![]( "Auto Loans Previous Year")
or newer & less than 7,501 miles
Model Year or newer & less than 7,501 miles
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36 Months
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48 Months
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60 Months
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72 Months
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84 Months
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Pre-owned vehicles with over 7,501 miles
Pre-owned vehicles with over 7,501 miles
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36 Months
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|---|---|
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48 Months
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60 Months
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72 Months
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84 Months
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-
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*APR as low as
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.
What to know about borrowing for a car
Find your car budget
You might have a dream car in mind, but what matters most is what fits your budget. Review your car budget and make sure it’s realistic. Don’t forget to include insurance, taxes, maintenance, repairs, and gas. Optional features like extended warranties or credit insurance add to the cost.
Figure out where your car funds will come from and how much flexibility you have. If you can, pay down existing debt to keep your debt-to-income ratio low. Consider a used car if it better fits your goals and budget.
Check your credit score
Your credit score affects the interest rate and loan terms you’ll get. A lower score can mean higher monthly payments. Review your credit report for errors and get them fixed before applying. Bring overdue accounts up to date and pay down debt if possible.
Estimate, compare, and negotiate loan terms
Once you know your budget, estimate payments for cars that fit. Compare payments, terms, features, and depreciation for each option. Even if several cars fit your budget, shop around for the best deal. Look for dealership promotions and ask about discounts or rebates. Explore different financing types, and if you find a better price elsewhere, see if your dealer will match it.
New Auto Loan FAQs
No. The first step is to apply for pre-qualification to see the rate(s) and term(s) you qualify for. Then, once you’ve arranged financing, it’s time to find your new car. You can go with a dealership of your choice, or you can use the PenFed Car Buying Service for exclusive members savings.
PenFed will send the check directly to you by mail. The check will be made payable to the dealership or seller.
PenFed offers purchase loans on automobiles with fewer than 125,000 miles.
No. PenFed will not charge you any fees to apply or pay off your loan early.