DCU vs Penfed

[Anonymous]

Which is the better Credit Union to go with for an auto loan, DCU or Penfed. EQ- 708 TU-744 EX-713

[Anonymous]

Both are solid and have great reputations, no way you can go wrong either way.   I suspect others will have an opinion of one over the other but I have yet to read a negative comment about either.  If you can get in NFCU is another option that has a great reputation. 

[elim]

I usually hear DCU / low APR in the approvals section. HP of course.

[Luscher]

I use DCU. but they are both pretty equal in greatness

[azguy13]

I recently accepted an auto loan through DCU for $28,000ish. It was a used vehicle and I received 1.73%, after I decided to direct deposit my VA service connected disability. That gave me a .50% decrease in my APR. 

I have had auto loans through DCU, NFCU, Wells Fardo, and GECRB and DCU is by far my favorite. NFCU usually gives me the best rate but for some reason, they didnt come close to DCU. 

[aav]

I'm going to be making a similar choice soon an am considering both dcu and Penfed. I lean towards pen because I could get more from the hp... A credit card and auto loan ... Though I have plenty of credit already. Dcu does seem to have a slightly lower rate.

[Anonymous]

I just refinanced with PenFed, loved them. I received approval instantly and a much better rate. Nothing but good things to say about them so far.

[Anonymous]

I'm reading here and elsewhere that both are really good. I did apply for Penfed recently, mainly because the APR is slightly better and you don't need a direct deposit checking account like DCU requires. But I read PenFed is strict about having a really good credit history and DCU seems to be more lenient with good but not perfect credit.

[Gmood1]

What I like about Penfed over most of the others is the no tier rated auto loans. Eveyone else uses a tier rating. Meaning if your score is a 680, your rate will be higher than a person with say a 760 CS. With Penfed if you qualify, you get the best rate regardless. The person with a 680 will get the same rate as the person with a 850 score.

If you have a 760 score, it really doesn't matter as you'll qualify for the best rate through anyone in most cases. If you use Penfed's car buying/finding service they knock another .50 % off the rate. So you'd be looking at 1.49% the last time I checked.

[damac2004]

do either of these require paychecks being deposited into their accounts?  im self employed and was looking to finance my first car in the near future.