topic Re: PenFed in Auto Loans

PenFed

Anonymous — Wed, 19 Jul 2017 16:17:13 GMT

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!

Re: PenFed

Appleman — Wed, 19 Jul 2017 21:50:02 GMT

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

Re: PenFed

Anonymous — Wed, 19 Jul 2017 22:24:21 GMT

Amazing and congrats! Enjoy your new car..

Re: PenFed

Anonymous — Tue, 25 Jul 2017 06:13:17 GMT

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

Re: PenFed

Glen_M — Sun, 30 Jul 2017 11:52:01 GMT

@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.

Re: PenFed

Anonymous — Thu, 31 Aug 2017 19:15:07 GMT

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?

Re: PenFed

bigpoppa09 — Thu, 31 Aug 2017 20:06:27 GMT

@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

Re: PenFed

Anonymous — Thu, 31 Aug 2017 20:14:00 GMT

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...

Re: PenFed

Appleman — Fri, 01 Sep 2017 01:10:12 GMT

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.

Re: PenFed

ejm201 — Fri, 01 Sep 2017 06:56:09 GMT

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?