To apply for refinancing with PenFed, you will need:
- Your automobile’s VIN OR state of registration and plate number
- The name of your current lender
- Your personal identification information and documents
Rev up your savings with $300
Get $3001 when you refinance your current auto loan with PenFed and set up recurring payments from a PenFed Checking account2.
Auto Refinance Loan Benefits
Won’t affect your credit score3
What Our Members Say...
Apply in Minutes
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Finalize Loan
Won’t affect your credit score3
Estimated Monthly Payment for at APR*
| Current Monthly Payment | |
|---|---|
| PenFed Monthly Payment | − |
| Total Monthly Savings |
Explore Competitive Auto Loan Rates
NEW
USED
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36
Months
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48
Months
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60
Months
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72
Months
|
84
Months
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New Auto RefinanceModel Year |
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Used Auto RefinancePre-owned vehicles with 7,501 or more miles |
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New Auto Refinance
Model Year ![]( "Auto Loans Previous Year")
or newer & less than 7,501 miles
New Auto Refinance
Model Year or newer & less than 7,501 miles
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36 Months
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48 Months
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60 Months
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72 Months
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84 Months
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Used Auto Refinance
Pre-owned vehicles with 7,501 or more miles
Used Auto Refinance
Pre-owned vehicles with 7,501 or more miles
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36 Months
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48 Months
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60 Months
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72 Months
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84 Months
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*APR as low as
Your actual APR will be determined at the time of disbursement and will be based on your application and credit information. Rates quoted assume excellent borrower credit history. Not all applicants will qualify for the lowest rate.
Protect Your Vehicle With Confidence
Disclosures
To receive any advertised product, you must become a member of PenFed Credit Union which includes opening a $5 PenFed savings account.
Rates and offers current as of and are subject to change.
1The auto purchase and refinance cash bonus of $300 will apply to loans over $10,000 when the first two recurring payments are made from a PenFed Checking account. Applies to all purchase and refinance loan applications received at PenFed between 12/18/2024 and 1/31/2025; refinance loans must be refinanced from another institution. PenFed internal refinances and refinance loans originated from 3rd party partners are not eligible for this promotion. A PenFed Checking account does not have to be opened prior to 12/18/2024 but must be used to make the first two recurring payments and remain open until June 1, 2025, to qualify for the bonus. The loan must be currently active and have the first two recurring monthly payments posted to the auto loan from a PenFed Checking account to qualify for the bonus. The $300 bonus will be deposited to the member’s PenFed Checking or Savings account within 60 days of eligibility completion or by June 30, 2025, whichever is sooner. The promotional bonus will be reported on the year-end Form 1099-INT as taxable income. PenFed may discontinue or change the promotion at any time. Other restrictions may apply.
2Access America Checking Account is a variable rate account. APY (Annual Percentage Yield) of 0.35% applies to accounts with a daily balance of $20,000-$50,000 and a monthly direct deposit of $500 or more. An APY of 0.15% applies to accounts with a daily balance of less than $20,000 and a monthly direct deposit of $500 or more. APYs are valid as of the last dividend declaration date of December 1, 2024, and are subject to change at any time. For both Access America Checking and Free Checking, fees may reduce earnings on account. Minimum deposit of $25 required to open an account. When an account is terminated prior to the end of a statement cycle, dividends will be paid if the aggregate direct deposit requirement is met on the date of account termination.
3The initial inquiry will be a soft pull that will not affect your credit score. If you choose to initiate a loan application after checking your rates, you will be required to authorize a full credit report inquiry, which would be considered a hard pull and may affect your credit.
*APR = Annual Percentage Rate. Your actual APR will be determined at the time of disbursement and will be based on your application and credit information. Rates quoted assume excellent borrower credit history. Not all applicants will qualify for the lowest rate.
††Average monthly payment savings of $191 per month was calculated based on the average monthly payments offered to PenFed members compared to their prior average monthly payments between Jan 1, 2023 and Mar 23, 2023. Each applicant's savings may depend on each applicant's new interest rate, term, and/or third party fees. For example, an applicant has a current vehicle loan with an amount of $24,227, an interest rate of 4.62%, loan term of 60 months, and monthly payment of $453. If that applicant refinances with PenFed for an amount of $24,227 an interest rate of % and loan term of 72 months, that member would have a monthly payment of approximately $399, and their average monthly payment savings would be $54. Your savings may be different.
Refinance Auto Loans: New vehicles are where you are the original owner and the vehicle is a current model year or newer and has less than 7501 miles. For used vehicles, maximum used car loan advance will be determined by PenFed using a JD Power value. Up to 125% financing is available in the U.S. Up to 110% financing is available in Puerto Rico and Virgin Islands. PenFed does not permit internal refinances of an existing PenFed auto loan. For the 84-month loan term, eligible used vehicles must have model years as new as or newer than the current calendar year minus five years and less than 60,000 miles.
Rate depends on term. Vehicle weight and mileage restrictions apply.
Loan Payment Example: A $20,000 new auto loan financed at % APR would amount to 60 monthly payments of approximately $
each.