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PenFed

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Anonymous
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PenFed

First I just wanted to thank everyone for the suggestion of using PenFed.  After using the Mortgage board for several months and successfully buying a house in April, I have been stalking this board.

 

PenFed was so easy.  short application and credit check and I was approved.  Waiting to get a purchase order from the dealer tomorrow so I can upload it to PenFed and they will overnight the money to me.  Way to simple.. no pay stubs, tax info, nothing (when I bought my husbands truck last year, the dealer wanted so much paperwork I thought I was buying a house). 

 

So I just wanted to let everyone know of my easy experience with PenFed (auto scores mid 600's).  Thanks again!

Message 1 of 10
9 REPLIES 9
Appleman
Valued Contributor

Re: PenFed

Thanks for sharing your positive story! I agree, PenFed is my favorite Credit Union and have treated me very well.

Message 2 of 10
Anonymous
Not applicable

Re: PenFed

Amazing and congrats! Enjoy your new car..

Message 3 of 10
Anonymous
Not applicable

Re: PenFed

Does one only find out their auto score by applying for an auto loan or is there another way?

Message 4 of 10
Glen_M
Frequent Contributor

Re: PenFed


@Anonymous wrote:

Does one only find out their auto score by applying for an auto loan or is there another way?


 

The 3-bureau reports from myFICO with 28 scores, or whatever the number is, include auto scores from each bureau.



Message 5 of 10
Anonymous
Not applicable

Re: PenFed

Wow congratulations!! May i ask, what were your scores? What did they pull for auto loan score wise? How much were you approved for? I'm hoping for 35-40k with 700+ score. Do i choose how much i want to get qualified for or i let them know what car i'm interested in? How did it work?

Message 6 of 10
bigpoppa09
Established Contributor

Re: PenFed


@Anonymous wrote:

Wow congratulations!! May i ask, what were your scores? What did they pull for auto loan score wise? How much were you approved for? I'm hoping for 35-40k with 700+ score. Do i choose how much i want to get qualified for or i let them know what car i'm interested in? How did it work?


Kevin i told u Penfed uses EQ Fico 09 no auto just straight Fico

Message 7 of 10
Anonymous
Not applicable

Re: PenFed

Awesome!! Congratulations! I have 2 auto loans through Pen. They were both refinanced from the initial bank that financed me but you are right...the process was easy as pie....congrats again...Smiley Happy

Message 8 of 10
Appleman
Valued Contributor

Re: PenFed

When you fill out the PenFed application they will ask you for the amount you would like. I would go to the max you think you will need and if you negotiate a better deal or get a less pricey vehicle, your same loan can be used. It will be good for up to $45,000. I always call from the dealer to ensure the vehicle meets their lending criteria before signing things.

Message 9 of 10
ejm201
Valued Member

Re: PenFed

AWESOME! We have a branch not too far from the base; did you apply online or go into the branch? Mid 600s gives my wife hope. What was your interest rate?

Message 10 of 10
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