News Release: U.S. Army Serviceman Wins PenFed Car Buying Service $2,500 VISA® Gift Card Sweepstakes

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U.S. Army Serviceman Wins PenFed Car Buying Service $2,500 VISA® Gift Card Sweepstakes

For U.S. Army Capt. Andrew Uong from Chester, Md., and member of PenFed (Pentagon Federal Credit Union), the decision to use the PenFed Car Buying Service to shop for the much desired BMW of his dreams ended in the thrill of successfully finding it, and then buying it. The second thrill came in the form of a phone call; that was when a PenFed spokesperson contacted Uong to announce that he was the winner of the “PenFed Car Buying Service $2,500 VISA® Gift Card” holiday sweepstakes.

The PenFed sponsored “PenFed Car Buying Service $2,500 VISA® Gift Card” sweepstakes made its debut last November as the credit union’s lead Black Friday and holiday auto shopping promotional event. During that promotion, individuals who purchased a vehicle using the PenFed Car Buying Service between Friday, November 29, 2013 and Tuesday, December 31, 2013, were automatically entered into the sweepstakes.

“We really enjoyed surprising Andrew with the good news about his sweepstakes selection” said Steve Troxel, vice president of marketing at PenFed. “Our PenFed Car Buying Service has so many wonderful advantages in terms of value and user experience that having our winner share his own personal experience about the benefits of using the service, and the success he had in the end with finding exactly what he wanted, makes this announcement even more pleasurable.”

“What was my reaction when I first heard the news? It felt like, yes, I finally won something! Now I can use the sweepstakes winnings to accessorize my M3. That is the glory of the Amazon wish list; cosmetic auto parts and other assorted toys,” said U.S. Army Capt., Andrew Uong.

For Uong, the decision to use the PenFed Car Buying Service was an easy one.

Uong, who is currently stationed out of Fort Bliss in El Paso, Texas, had for some time been shopping for a car on his own at the local dealerships in his area. He quickly became frustrated with the poor service he received at several of the locations he visited; and when Uong realized that the vehicle inventory and quality of cars did not meet his expectations, he decided to see what the PenFed Car Buying Service had to offer.

“I had never used a car buying service before, but decided to try out PenFed’s because of the convenience of use and low rates that PenFed’s financing offered,” said Uong. “I would definitely use the service again. There was a wider selection of vehicles to choose from, and the dealer pricing through the service was much better compared to the local dealership pricing.”

When asked if he was happy with the BMW he eventually chose to buy, Uong’s answer was a resounding, yes.

“Buying a car like this is not going to happen again for some time, so I want to enjoy it while I can. Eventually I will want settle down and get married, and when that happens I will need to buy a car that is a better fit for that situation. I will be thinking more along the lines of what kind of gas mileage the car gets and how many car seats will fit in the backseat. Things like that. So yes, this car is an exciting purchase for me.”

Who should consider using the PenFed Car Buying Service?

The PenFed Car Buying Service experience is tailored for shoppers looking for a new or used car in a convenient, “hassle-free” environment. The service allows buyers 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.

In addition to all the built-in service conveniences, PenFed members have also seen an average savings of $3,078 off MSRP1 on new cars with the PenFed Car Buying Service.

Secure great rates on PenFed financing when you use the PenFed Car Buying Service

Additionally, auto shoppers who use the PenFed Car Buying Service, and secure their financing with PenFed, can enjoy low, competitive rates.

Promotional rates now available

Now for a limited time, shoppers who use the service can secure the following promotional rates:

  • New Autos: Secure 0% APR* online auto financing for terms up to 36 months.
  • Used Autos: Secure 0.49% APR* online only financing for terms up to 36 months.

At the end of the day, the PenFed Card Buying Service is a win for everyone

“It just goes to show that whether you are a sweepstakes winner, or not, the PenFed Car Buying Service offers great value to car buyers,” said Troxel. “When you stop to consider the convenient ease of use, the vehicle selection and pricing, and then combine it with PenFed’s great rates; it all adds up to make an unbeatable combination for the consumer. With that in mind, we are proud to recognize our winner in this manner. Congratulations, Andrew!”

To learn more about the PenFed Car Buying Service, 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 country serving over 1.2 million members worldwide; with more than $16 billion in assets. Its longstanding mission has been to provide superior financial services, responsive to members’ needs in a cost effective manner. PenFed offers market leading mortgages, automobile loans, credit cards, checking, and a wide-range of other financial services with its members’ interests always in mind. Serving a diverse population, there are many ways to become a PenFed member; including numerous association members and employee groups. PenFed is federally insured by the National Credit Union Administration, does business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act, and is an equal housing lender.

Disclosures: Rates and offers current as of March 01, 2014 – March 31, 2014 and are subject to change. Promotional rate is not available to refinance existing PenFed car loans.
0.00% APR applies to new vehicle loan amounts up to $100,000 financed for 12-36 months. 0.49% APR applies to used vehicle amounts up to $100,000 financed for 12-36 months. Rates apply to vehicles purchased through the PenFed Car Buying Service. Maximum used car loan advance is NADA “Retail Value” or 80% of the purchase price where NADA “Retail Value” is not available. Further restrictions apply on vehicles with 100,000 miles or more. Up to 100% financing is available to qualified members. Call 800-247-5626 for details.
 *Internet only special rate. Higher rate will be assessed if you do not apply online. Rate depends on term and model year of vehicle. Other restrictions may apply. New vehicles are where you are the original owner and the vehicle is a current or previous model year. Up to 100% financing is available. Weight restrictions apply.
Payment Examples:
  • New Vehicle Loan Payment Example: $20,000 at 0.00% APR; 36 monthly payments of approximately $555.55
  • New Vehicle Loan Payment Example: $20,000 at 0.74% APR; 48 monthly payments of approximately $422.99
  • New Vehicle Loan Payment Example: $20,000 at 1.29% APR; 60 monthly payments of approximately $344.38
  • Used Vehicle Loan Payment Example: $20,000 at 0.49% APR; 36 monthly payments of approximately $559.76
  • Used Vehicle Loan Payment Example: $20,000 at 1.24% APR; 48 monthly payments of approximately $427.30
  • Used Vehicle Loan Payment Example: $20,000 at 1.49% APR; 60 monthly payments of approximately $346.11
PenFed Car Buying Service: PenFed Car Buying Service is available in the continental U.S. and Hawaii.
1Between 7/1/13 and 9/30/13, the average estimated savings off MSRP presented by TrueCar Certified Dealers to users of TrueCar powered websites, based on users who configured virtual vehicles and subsequently purchased a new vehicle of the same make and model listed on the certificate from Certified Dealers, was $3,078, including applicable vehicle specific manufacturer incentives. Your actual savings may vary based on multiple factors including the vehicle you select, region, dealer, and applicable vehicle specific manufacturer incentives which are subject to change. 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. TrueCar does not sell or lease motor vehicles

 

 

Posted in: 2014, Press Releases

Media Contact

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

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Our Media Center is designed to keep you up-to-date on PenFed activities and act as a press archive. All information is considered to be accurate at the time of original publication. PenFed accepts no responsibility to update our press releases after information, including but not limited to rates and offers, has expired or is otherwise out of date.
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