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Old 12-28-2012, 10:39 PM   #1
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Best interest rates (new/used/refinance)

Had my new 2012 JKU (7/2012) with Ally Bank for 72 months at 3.49%. Made one payment and refinanced it at Pentagon Federal Credit Union (PenFed) for 60 months at 1.49%. This is where to go, guys...

https://www.penfed.org/Auto-Loans-Overview/

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Old 12-28-2012, 11:09 PM   #2
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I used them as well.

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Old 12-28-2012, 11:11 PM   #3
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I will stick with USAA, thank you.
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Old 12-28-2012, 11:24 PM   #4
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I was happy with my 1.75% - someone references PenFed at .5% in another thread. At .5% I almost can't afford not to refinance, particularly since there's no early payment penalties to get out of my current contract.

Regardless, I guess it's good that folks have so many choices to get rates under 2%.

I did try USAA first - they stated that they do not match rates under any circumstances; I thought that was surprising - they basically decided not to compete for my business.
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Old 12-29-2012, 12:02 AM   #5
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I have my Jeep with PenFed at 1.49% also. This is my second consecutive auto loan through them. They're great to work with and have great rates.
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Old 12-29-2012, 12:05 AM   #6
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Long time USAA member here too. I tried to get them to match PenFed as well, they did not. I got .99% from PenFed this month. That's over $1000 cheaper than USAA over the life of the loan and PenFed's customer service was awesome... I can't say that for USAA... in the last 5 years their customer service while friendly, has become very incompetent.
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Old 12-29-2012, 01:25 AM   #7
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While we're patiently waiting for our Sahara that we ordered a few weeks ago I've been researching finance rates and I keep hearing about PenFed. At 1.49% they sound like something I should check into.

Right before I logged on here tonight I was on the PenFed website looking around. Although I don't work for the government, I do work for a military contractor. Alas, they are not on the qualified list. However, it did say something about paying $20 for a membership where I could still get in on the low interest rate.

I hope it's not a scam to get people to join something and then later be told we don't qualify. When I checked into my FICO credit score within the last year it was over 800. I haven't paid the $20 membership yet but I probably will before our Sahara arrives.
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Old 12-29-2012, 08:43 AM   #8
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I work for an insurance company and I was able to join by paying $20. It's not a scam.
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Old 12-29-2012, 09:01 AM   #9
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I got 2.9 from Chase and I was happy. My FICO is over 800 though. The finance manager at the dealer said not to many people get that good of a rate.
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Old 12-29-2012, 09:06 AM   #10
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I've financed my last 2 vehicles through PenFed...best financial insitution I've ever dealt with...great rates and absolutely the best customer service. I'm sure their current 1.49% rate is bringing them a lot of new customers. You can get .49% if you use their car buying service.
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Old 12-29-2012, 09:17 AM   #11
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Navy Fed gave me 1.59%. BB&T was able to give me 1.55% at the dealership. I didn't mind giving the dealership my financing, as long as the percent was equal or lower. At that point, it isn't really saving me much money, but it was nice to know I could get so low.

Keep in mind that sometimes your rate depends on how much your loan is going to be. BB&T couldn't give me that rate unless I had a loan for a specific amount. I had to decrease my down payment by $100, but then I just applied that $100 to my first payment.

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I got 2.9 from Chase and I was happy. My FICO is over 800 though. The finance manager at the dealer said not to many people get that good of a rate.
Seems like a high rate if your FICO is over 800. Mine isn't quite that high and I was given rates at half that...
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Old 12-29-2012, 10:08 AM   #12
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0.0% from Chrysler.
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Old 12-29-2012, 11:09 AM   #13
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1.49% Penfed loan for 60 months for myself as well. They give options for $15 or $20 donations to one of their organizations to join as well. Easy to deal with held my loan paperwork for a month until delivery since I opted to order instead.
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Old 12-29-2012, 12:39 PM   #14
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My credit union is at 1.89% for 36 months and 2.89% for up to 60 months... with good credit score. I deal with them because I can call them and tell them what to make the check out for and just drive by and pick it up. They do all the work and right then and now. No bothers.
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Old 12-29-2012, 12:55 PM   #15
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My credit union is at 1.89% for 36 months and 2.89% for up to 60 months... with good credit score. I deal with them because I can call them and tell them what to make the check out for and just drive by and pick it up. They do all the work and right then and now. No bothers.
Just a heads up for those wondering. PenFed will also issue a blank draft payable to the dealership up to your requested and approved loan amount. You just call them up after going through the online application process and ask for a blank draft. Since I was so early on in the ordering process of my Jeep I didn't need my check expedited. But they will overnight or 2-day ship the check if you need it that fast.
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Old 12-29-2012, 01:00 PM   #16
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0.0% from Chrysler.
Same. Only 6 more payments!

They had that rate going for a couple months at the end of last year. Wonder why they didn't offer it again?
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Old 12-29-2012, 02:19 PM   #17
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I told USAA I was going to switch to Penfed and they matched the 1.49 rate.
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Old 12-29-2012, 03:12 PM   #18
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I got 2.24% (60 months) from a bank and then the deliver was able to buy down the interest rate because I opted for an extended warranty so I ended up at 1.59% for 60 months. Worked for me!
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Old 12-29-2012, 03:38 PM   #19
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Apparently, the 1.49% PenFed rate is no longer available. I just applied online, was approved and here's what they offered:

Review

Your Loan Amount at today's rate of 3.49% APR is $27,200.00 with 72 monthly payments of $419.27.
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Old 12-29-2012, 04:12 PM   #20
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Same. Only 6 more payments!

They had that rate going for a couple months at the end of last year. Wonder why they didn't offer it again?
I got 0% for 36 months last May. Dealer even said it was not being advertized at that time. Dealer said most people don't ask for it. So always ask.
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Old 12-29-2012, 05:13 PM   #21
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Apparently, the 1.49% PenFed rate is no longer available. I just applied online, was approved and here's what they offered:

Review

Your Loan Amount at today's rate of 3.49% APR is $27,200.00 with 72 monthly payments of $419.27.
1.49% is only available on a loan length of up to 60 months. 60-72 months gets 3.49%. It's right on their website.
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Old 12-30-2012, 03:31 AM   #22
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1.49% is only available on a loan length of up to 60 months. 60-72 months gets 3.49%. It's right on their website.
Ahh, I didn't notice that. I'll recalculate what the payments will be for the shorter term at the lower rate and see if the missus wants to go that route. It's her Sahara and she'll be making the payments. Thanks.
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Old 12-30-2012, 07:26 AM   #23
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Try Navy FCU...Last night I joined them on line & then called them...Ended up refinancing my Jeep for 1.99% for 72 months with GAP insurance...And after I make my first payment they're going to deposit $250 into my newly opened account...
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Old 12-30-2012, 10:33 AM   #24
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1.49% is only available on a loan length of up to 60 months. 60-72 months gets 3.49%. It's right on their website.
This is why I'm pretty happy with my rate. 2.9 for 72 months.
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Old 12-31-2012, 05:00 PM   #25
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Anyone also use the PenFed jeep buying service with.49%?

The jeep prices seemed pretty good when I ran numbers on their website. Seemed to be a tiny bit better than the tread lightly discount?
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Old 12-31-2012, 09:03 PM   #26
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I've been with Navy Fed since 1987 and they gave me 1.79% for 60mo with a very high credit score. I've got my house with them so it's easier to pay everything through one source.
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Old 12-31-2012, 11:49 PM   #27
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I use Pen Fed exclusively for financing vehicles - low rates and awesome customer service. Last week I sold our Honda Pilot - the buyers bank overnighted the payoff to Pen Fed's Omaha office. Within 30 minutes of receiving the payoff, they applied the $$ to my account and released the title. AND they were working with half a staff due to a bad snow storm.

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