cancel
Showing results for 
Search instead for 
Did you mean: 

Pen Fed Auto Refi Approval - take it or leave it?

Rebuild2019
Valued Contributor

Re: Pen Fed Auto Refi Approval - take it or leave it?

Congratulations 🎉🎈🍾 @anik28. I am so excited for you. You will save a lot of money. I’m trying to build a history with PenFed also. I’m thinking I may purchase a vehicle in the spring. Always nice when you work and get something you want. Really am happy for you.

CARDS: Discover It | QuickSilver One | Kohl’s | BBT Spectrum Cash Rewards | BBT Bright | PenFed Gold Visa | NFCU CashRewards | NFCU More Rewards | NFCU Platinum Visa | AMEX BCE | Verizon Visa | Wells Fargo Active Cash | Amazon Prime | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 11 of 17
anik28
Regular Contributor

Re: Pen Fed Auto Refi Approval - take it or leave it?

@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!

Message 12 of 17
anik28
Regular Contributor

Re: Pen Fed Auto Refi Approval - take it or leave it?

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!

 

8EA855A2-8D66-4004-9C9D-D1EC794CD168.jpeg

 

Message 13 of 17
Kforce
Valued Contributor

Re: Pen Fed Auto Refi Approval - take it or leave it?

Congrats on your new auto loan.

** Note, I would not believe that first payment / payment due date **

Think it is a year off !

 

MyFico_1117.jpg

Message 14 of 17
anik28
Regular Contributor

Re: Pen Fed Auto Refi Approval - take it or leave it?

@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 

Message 15 of 17
scorefreak
Valued Member

Re: Pen Fed Auto Refi Approval - take it or leave it?

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.

Message 16 of 17
anik28
Regular Contributor

Re: Pen Fed Auto Refi Approval - take it or leave it?

@Kforce yep- agreed! I just sent the payoff check from PenFed today. It felt good, the ridiculous APR will be long gone here shortly

Message 17 of 17
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.