PenFed Maximum Loan

[Anonymous]

I applied to PenFed last week for a $124,000 car loan. Instant approval on a SP for $100,000. I believe $100,000 is PenFed's maximum car loan?

[Creditplz]

I believe so, most CU cap out at 100k. 

Usually you go into the dealer and let them choose the lender for you, I've had Ally approve $175k, and BofA I believe goes the distance as well. 

along with MBFS, BMWFS, PFS, AFS, and many other manufacturer-lenders. 

[Anonymous]

You are right on point and I appreciate the valuble information.

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@Creditplz wrote:

I believe so, most CU cap out at 100k. 

Usually you go into the dealer and let them choose the lender for you, I've had Ally approve $175k, and BofA I believe goes the distance as well. 

along with MBFS, BMWFS, PFS, AFS, and many other manufacturer-lenders. 

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[CerebralZulu]

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@Anonymous wrote:

I applied to PenFed last week for a $124,000 car loan. Instant approval on a SP for $100,000. I believe $100,000 is PenFed's maximum car loan?

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Did you have an offer with PenFed or was this a cold app?