@Rebuild2019 thank you so much for the words of encouragement. This board is probably the only reason I'm where I'm at today - still have a long way to go. But I'll take this as a win & sign that my credit has come very far, as well as my financial habits!
Very impressed with Pen Fed so far. I've already got the loan in my portal with all the new finance information, very excited to build a history with them and go for a credit card next year!
Congrats on your new auto loan.
** Note, I would not believe that first payment / payment due date **
Think it is a year off !
@Kforce thanks for the very helpful payment & interest schedule! They definitely made a mistake LOL. First payment is due 12/30/21, think it was just a system glitch. It's showing correctly on the app now.
I haven't received the payoff check yet so will be a bit before they update my balance owed
You definitely take the low APR over the lower payments at a ridiculous APR. It's a sound practice to assume that you may keep the car until the end of the term loan. You don't want to regret having paid way more for the car at the end of the loan term then you would have had to.
@Kforce yep- agreed! I just sent the payoff check from PenFed today. It felt good, the ridiculous APR will be long gone here shortly