Pre-Approved for PenFed Auto Loan

[Isacking97]

84 months at 3.99%, going to wait amount a month (payoff 1-2 credit cards) and try again to get a better rate/lower months. 

For now only a SP. 

[4sallypat]

Good rate for 84 months.

Is that new or used ?

I applied last month and got approved (HP) for $14,100 for 60 months on a lease buyout (used rate) and got 3.16% which was high compared to my local CU which offered 2.24%.

Had to mail back the PenFed check 2 party check and cancelled the loan as I went with my local CU.

[Quiquiro]

I refinanced my Hyundai Kona 2019 Limited AWD with Penfed one June 2021 for 

Used

72 months @ 4.02% for $25k flat. Prime rate for used at that time at Penfed where 3.96%

By august it went down to 3.7% and now its at 3.4% for used.

New ones comes for about 1.7% to up to 4%.

My mom bought a Palisade  72 months @2.2%, she got pre approved by mail, called by phone to get everything done. I tried checking at that time and the prime rates for 72 months was about 2.5% I think it was an offer just for her or something similar?

I'm never that lucky

[dunn2500]

---

@Isacking97 wrote:

84 months at 3.99%, going to wait amount a month (payoff 1-2 credit cards) and try again to get a better rate/lower months. 

For now only a SP. 

---

that is their lowest rate for 84mo so your at lowest they offer......