PenFed Unveils 0.74%* APR Auto Financing with Online Car Buying Service

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PenFed offers 0.74% APR auto financing for online applications on auto loans through its exclusive car buying service.

March 6, 2013, Alexandria, Va.—PenFed (Pentagon Federal Credit Union) announced today that March Madness savings is underway with an attractive auto loan rate of 0.74% APR up to 48 months for those members who use the credit union’s online Car Buying Service. Members who prefer to negotiate at a dealership can still enjoy a 1.74% APR** by financing online with PenFed, with terms between 12 to 60 months.

“Our Car Buying Service has received a tremendous response from our members,” said Steven Troxel, Vice-President of Marketing at PenFed. “We’re excited to make it available to more people who want one of the best rates around and a hassle-free shopping experience.”

Members using the PenFed Car Buying Service enjoy a potential average savings of $2,678 off the MSRP⁺ for new cars. The experience is tailored for shoppers looking for a new or used car in a convenient “one-stop shop.” The service is free to all PenFed members by visiting PenFed.org/PenFed-Car-Buying-Service/.

PenFed’s auto purchase programs allow members to research new and used vehicles, get safety information, see photos and videos of vehicles, read reviews, and receive negotiated price quotes on vehicles from dealers in their area.

For more information about PenFed or to apply for an auto loan, call 800.247.5626 or visit PenFed.org.
About PenFed (Pentagon Federal Credit Union)

Established in 1935, PenFed is one of the largest credit unions in the United States with over a million members and more than $15 billion in assets. PenFed provides an extensive selection of financial products to its members worldwide. Its core membership includes the Department of Defense, Army, Marine Corps, Navy, Air Force, and Coast Guard; Department of Homeland Security personnel, employees or volunteers of the American Red Cross, numerous military associations, and many others. PenFed is federally insured by the National Credit Union Administration and is an equal housing lender.

Disclosures: Rate and offers are current as of March 1, 2013, and are subject to change. *Internet only special rate. Higher rate will be assessed if you do not apply online. 0.74% APR applies to vehicle loan amounts up to $70,000 financed for 12-48 months. Rate depends on amount borrowed and term. Other restrictions may apply. Car loan example: $20,000 loan at 0.74% APR, 48 monthly payments of approximately $422.99 each.**Internet only special rate. Higher rate will be assessed if you do not apply online. 1.74% APR applies to new vehicle loan amounts up to $70,000 financed for 12-60 months. 3.74% APR applies to new vehicle loan amounts up to $70,000 financed for 61-72 months. Car loan example: $20,000 loan at 1.74% APR, 60 monthly payments of approximately $348.29 each. Rate and term depends on amount borrowed and model year. Other restrictions may apply. Promotional rate is not available to refinance existing PenFed car loans. ⁺$2,678 average savings represents the average amount of savings off of MSRP presented to users by Certified Dealers based on user-configured new vehicles for which a user requested a certificate between 06/07/12 and 09/27/12. Your actual savings may vary based on multiple factors including the vehicle you select, region, dealer, and applicable manufacturer incentives. The Manufacturer’s Suggested Retail Price (“MSRP”) is determined by the manufacturer, and may not reflect the price at which vehicles are generally sold in the dealer’s trade area as not all vehicles are sold at MSRP. Each dealer sets its own pricing. Your actual purchase price is negotiated between you and the dealer.

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Posted in: 2013, Press Releases
PenFed Auto Loans

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Amy Doane
Direct: 541-225-6606
E-mail: MediaRelations@PenFed.org

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