Approved Penfed auto refinance

[12njoy]

Finally got in with Penfed last week with a 5k Promise.  Tried for a personal loan but they declined because they want to see payment history on Penfed account.  I guess that is for unsecured debt.  Applied for a refinance ($18,900) from USAA at 3.99% for a new (at time of original loan) 2014 Honda Accord.  In less than 30 minutes Penfed approved for 2.9% for 60 months which was the lowest rate for that term.  This is starting to look a lot like Christmas.  This 1% will save me nearly $2,400 in interest.

[Appleman]

Congrats on the refinance. I have had USAA for a long time but have had more love recently from PenFed.

[12njoy]

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@Appleman wrote:

Congrats on the refinance. I have had USAA for a long time but have had more love recently from PenFed.

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Thanks.   I'm loving Penfed 

[Anonymous]

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@12njoy wrote:

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@Appleman wrote:

Congrats on the refinance. I have had USAA for a long time but have had more love recently from PenFed.

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Thanks.   I'm loving Penfed 

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Congrats on the refi.  Just refied my USAA loan with PenFed.  If I let the loan run to completion, will save me $2400.  Very easy process

[12njoy]

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@Anonymous wrote:

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@12njoy wrote:

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@Appleman wrote:

Congrats on the refinance. I have had USAA for a long time but have had more love recently from PenFed.

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Thanks.   I'm loving Penfed 

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Congrats on the refi.  Just refied my USAA loan with PenFed.  If I let the loan run to completion, will save me $2400.  Very easy process

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I'm save about the same amount too

[Anonymous]

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@12njoy wrote:

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@Anonymous wrote:

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@12njoy wrote:

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@Appleman wrote:

Congrats on the refinance. I have had USAA for a long time but have had more love recently from PenFed.

---

Thanks.   I'm loving Penfed 

---

Congrats on the refi.  Just refied my USAA loan with PenFed.  If I let the loan run to completion, will save me $2400.  Very easy process

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I'm save about the same amount too

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Saw that. Pretty good deal and hard to turn down

[12njoy]

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@Anonymous wrote:

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@12njoy wrote:

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@Anonymous wrote:

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@12njoy wrote:

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@Appleman wrote:

Congrats on the refinance. I have had USAA for a long time but have had more love recently from PenFed.

---

Thanks.   I'm loving Penfed 

---

Congrats on the refi.  Just refied my USAA loan with PenFed.  If I let the loan run to completion, will save me $2400.  Very easy process

---

I'm save about the same amount too

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Saw that. Pretty good deal and hard to turn down

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Yes indeed.  I'll still make my normal payments plus a little extra.   Penfed has me at $335 whereas usaa had me at $375.  I was paying  $405 a month and will continue paying that amount. 

[Anonymous]

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@12njoy wrote:

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@Anonymous wrote:

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@12njoy wrote:

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@Anonymous wrote:

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@12njoy wrote:

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@Appleman wrote:

Congrats on the refinance. I have had USAA for a long time but have had more love recently from PenFed.

---

Thanks.   I'm loving Penfed 

---

Congrats on the refi.  Just refied my USAA loan with PenFed.  If I let the loan run to completion, will save me $2400.  Very easy process

---

I'm save about the same amount too

---

Saw that. Pretty good deal and hard to turn down

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Yes indeed.  I'll still make my normal payments plus a little extra.   Penfed has me at $335 whereas usaa had me at $375.  I was paying  $405 a month and will continue paying that amount. 

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Exactly my plan.  Mine dropped from $580 to $520 and I've been making payments of $625-650.  I'm already getting the bug to buy/lease new one

[12njoy]

I wish I could buy another one but my plan is to have this one paid off in 4 years and give it to my daughter when she starts driving.   Keeping the miles low for her so far 24,000 miles. 

[Anonymous]

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@12njoy wrote:

I wish I could buy another one but my plan is to have this one paid off in 4 years and give it to my daughter when she starts driving.   Keeping the miles low for her so far 24,000 miles. 

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Understandable and that's very nice of you.  I have bit more freedom.  i should have leased my current vehicle because I don't drive many miles and I get bored after couple years.  Leasing the next one will allow me to drive a much nicer one.  Might as well enjoy it while I can