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PenFed Auto refi approval!

Established Contributor

PenFed Auto refi approval!

I am soooooo a PenFed member for life! I bought a new car this past April from my local credit union with a 4.5% rate, then two months later I deployed to Kuwait. Well, I am back for health reasons, but my car only had 1900 miles when I left. Last month, I got approved for the Platinum Rewards CC, for $12k. I applied for the 1.49% auto loan to refinance my car and got an instant approval, but for some reason the value was more than I owed, so I backed off. But just three days ago, I decided to try it again, as a new car, and this time I got "with a LO for review". Well, thanks to that review, my loan now says preapring to be disbursed! I called today and they said the check is going out in the mail today! PenFed is awesome; I'm only paying $850 interest on my car!!!!

 


 

Credit Scores- October 2012

EQ- 684

EX-724

TU-706


PenFed Platinum Rewards Visa-$12k

US Bank Platinum Rewards Visa-$5k

Chase Freedom Visa-$5k

Chase Military Star MasterCard-$5k

TIC FCU Visa Gold-$5k

Chrysler MasterCard(FNBO)-$4.1k

Wyndham Rewards Platinum Visa-$2.5k

Service CU Platinum Visa-$10k

Amex Platinum Amex PRG Amex Hilton Surpass ($7k) Citi AAdvantage WEMC ($20k) Citi Hilton Honors VS ($6.8k) Dillard's Amex ($7.5k) Discover it ($6.5k) FNBO Chrysler MC ($30k) Military Star Card ($4.8k) Nordstrom VS ($25k) PenFed Power Cash Rewards VS ($20.5k) Ritz-Carlton VI ($54.5k) Starwood Preferred Guest Amex ($10k) Susan G. Komen WMC ($38k) Kinetic CU Visa ($10k) US Bank Cash + VS ($16k) Sears MC ($6k) USAA Limitless VS ($15k) Walmart MC ($7.5k) AAdvantage Aviator Silver WEMC ($11.3k)
6 REPLIES
Established Contributor

Re: PenFed Auto refi approval!

Congrats

Established Contributor

Re: PenFed Auto refi approval!

Thanks so much! That's the difference of paying $4k in interest vs. $2k!

Amex Platinum Amex PRG Amex Hilton Surpass ($7k) Citi AAdvantage WEMC ($20k) Citi Hilton Honors VS ($6.8k) Dillard's Amex ($7.5k) Discover it ($6.5k) FNBO Chrysler MC ($30k) Military Star Card ($4.8k) Nordstrom VS ($25k) PenFed Power Cash Rewards VS ($20.5k) Ritz-Carlton VI ($54.5k) Starwood Preferred Guest Amex ($10k) Susan G. Komen WMC ($38k) Kinetic CU Visa ($10k) US Bank Cash + VS ($16k) Sears MC ($6k) USAA Limitless VS ($15k) Walmart MC ($7.5k) AAdvantage Aviator Silver WEMC ($11.3k)
Established Contributor

Re: PenFed Auto refi approval!

Congrats!Smiley Happy

 

They approved me for a refi in July of this year - went from 9% to 1.9%, and will save me a ton on finance charges.  

 

I loved my experience with them, too.


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Established Contributor

Re: PenFed Auto refi approval!

Nice! Ine of my friends just totaled their car, and I told them the good news.....they're going to use the car buying service to get that extra low rate. I'll keep on telling friends until I have a reason not to!

Amex Platinum Amex PRG Amex Hilton Surpass ($7k) Citi AAdvantage WEMC ($20k) Citi Hilton Honors VS ($6.8k) Dillard's Amex ($7.5k) Discover it ($6.5k) FNBO Chrysler MC ($30k) Military Star Card ($4.8k) Nordstrom VS ($25k) PenFed Power Cash Rewards VS ($20.5k) Ritz-Carlton VI ($54.5k) Starwood Preferred Guest Amex ($10k) Susan G. Komen WMC ($38k) Kinetic CU Visa ($10k) US Bank Cash + VS ($16k) Sears MC ($6k) USAA Limitless VS ($15k) Walmart MC ($7.5k) AAdvantage Aviator Silver WEMC ($11.3k)
Regular Contributor

Re: PenFed Auto refi approval!

Congrats OP.

 

I just refi'd through PenFed two days ago and was approved. I originally started with a 6.49% APR through the KIA dealership, then 4.49% through Chase Auto Finance, and now down to 1.49% via PenFed. I have also changed my payment terms with each decrease, originally it was a 72-month term, then a 48-month term, and now a 36-month term.



Starting Score: EQ 675 | TU 688 | EX 702
Current Score: EQ 795 | TU 788 | EX 770
Goal Score: 750 (Across All 3)


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Established Contributor

Re: PenFed Auto refi approval!

Congrats to you too! I chose the 60 month term but I am paying a set amount to have it done on 48 months, and I have.the flexibility to not pay as should (God forbid) anything happen.
Amex Platinum Amex PRG Amex Hilton Surpass ($7k) Citi AAdvantage WEMC ($20k) Citi Hilton Honors VS ($6.8k) Dillard's Amex ($7.5k) Discover it ($6.5k) FNBO Chrysler MC ($30k) Military Star Card ($4.8k) Nordstrom VS ($25k) PenFed Power Cash Rewards VS ($20.5k) Ritz-Carlton VI ($54.5k) Starwood Preferred Guest Amex ($10k) Susan G. Komen WMC ($38k) Kinetic CU Visa ($10k) US Bank Cash + VS ($16k) Sears MC ($6k) USAA Limitless VS ($15k) Walmart MC ($7.5k) AAdvantage Aviator Silver WEMC ($11.3k)