PenFed Auto Loan

[Anonymous]

I joined PenFed back in early 2021 but never went ahead with an auto loan.  Now in the market again and decided to go ahead and see what kind of rates they can give me (also waiting on 2 other CU's I'm a member of).

Anyways, did the application online and it went to "Under Review"...what I do find odd is that they didn't even do an HP (at least not yet).  I've got plenty of alerts setup as when my other 2 CU's pulled last night, I got alerts immediately.

Is that normal for PenFed?  Or maybe it went to review because their system couldn't pull a report right away?

[coldfusion]

Did you have a preapproval offer extended to you that you chose to accept online?

Are your reports locked or frozen?

[Anonymous]

---

@coldfusion wrote:

Did you have a preapproval offer extended to you that you chose to accept online?

Are your reports locked or frozen?

---

Nope to both questions.  I did add my spouse as a co-applicant and she's not a member, not sure if that makes a difference?  I know reports aren't locked as I just did a Chrysler Finance pre-approval and got an HP lol.

[4sallypat]

I just applied with PenFed used car loan (buyout lease end).

Over the phone application.

Savings & checking accounts over 1 year.

EQ 09 = 778

EQ instant HP.

Approved instantly @ 3.16% (used car loan).

[7774x]

---

@Anonymous wrote:

I joined PenFed back in early 2021 but never went ahead with an auto loan.  Now in the market again and decided to go ahead and see what kind of rates they can give me (also waiting on 2 other CU's I'm a member of).

Anyways, did the application online and it went to "Under Review"...what I do find odd is that they didn't even do an HP (at least not yet).  I've got plenty of alerts setup as when my other 2 CU's pulled last night, I got alerts immediately.

Is that normal for PenFed?  Or maybe it went to review because their system couldn't pull a report right away?

---

Strange , Me too ..no HP..have other accounts with Pen for over year..They report to all 3 CRAs ...Auto loan listed ..CUs ,PenFed, Navy good people to deal 

[Anonymous]

I applied to PenFed last week. Instant preapproval with five loan choices with an EQ soft pull. Great new system.

[sweets2323]

When I called Penfed, they advised they will do a soft pull for the pre approval and provide numbers, to give an idea. 

 Final rate will rate and hard pull will ne done if I proceed.

[cjc6464]

Same here, I just refi'd my auto from NFCU. My grandparents were on my previous car, but did a home refinance so I needed to get a car on my own. Navy approved me but at 8.69%, made two payments and when the refi was done I put my grandparent back on and Penfed gave me 4.04. No HP, both members for 2+ years