PenFed Loan Approved, how does it work?

[Anonymous]

So we ended up getting the 2017 Hyundai Santa Fe Sport with the popular, premium, and tech packages.  Thanks to Appleman for suggesting the Penfed version of Truecar, which for some reason had a slightly better price than the regular version.

The dealer had absolutely no problem with the Penfed check, but we ultimately decided to lease instead since we have been trading out cars around every 3 years anyway and drive around 10k miles a year..  They still gave us the Penfed pricing on the lease and we had to roll in $800 in negative equity on the 14 Rogue we traded in.  I think we got a pretty good deal with 6k off the 37.5k MSRP, and a lease payment of $430 with no money down, 12,000 miles a year for 36 months.

Thanks for everyone's responses!

[Anonymous]

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@Anonymous wrote:

So we ended up getting the 2017 Hyundai Santa Fe Sport with the popular, premium, and tech packages.  Thanks to Appleman for suggesting the Penfed version of Truecar, which for some reason had a slightly better price than the regular version.

The dealer had absolutely no problem with the Penfed check, but we ultimately decided to lease instead since we have been trading out cars around every 3 years anyway and drive around 10k miles a year..  They still gave us the Penfed pricing on the lease and we had to roll in $800 in negative equity on the 14 Rogue we traded in.  I think we got a pretty good deal with 6k off the 37.5k MSRP, and a lease payment of $430 with no money down, 12,000 miles a year for 36 months.

Thanks for everyone's responses!

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Congrats! Did they run your credit?

[Anonymous]

Yes they did for the lease, the dealership pulled all three, and then Hyundai Financial pulled EQ.

[Anonymous]

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@Anonymous wrote:

Yes they did for the lease, the dealership pulled all three, and then Hyundai Financial pulled EQ.

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I see.. Congrats Agan.. Enjoy your new ride..

[Anonymous]

Loan Approved!

But meh.. Not the rates I was looking for.. They approved me for 33K with rates at  7.7% APR (fixed) Monthly payment $558.

7.7 is close to what I have right now at 9.01%

I think I'm going to have to pass..

[Appleman]

Congrats to both: new lease and deciding not to refinance.

That is what these boards are all about, helping each other make the best decisions possible for one's own financial situation.

[Anonymous]

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@Appleman wrote:

Congrats to both: new lease and deciding not to refinance.

That is what these boards are all about, helping each other make the best decisions possible for one's own financial situation.

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Was a lil dissapointed as my Prequal CapOne Autonavigator rate is better than my PenFed rate.