Drive away with a $300 bonus¹

*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.

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.

New Auto Loans: Loan rate applicable to new vehicles only. New vehicles are where you are the original owner and the untitled vehicle is model year or newer with less than 7501 miles. Up to 125% financing is available in the U.S. Up to 110% financing is available in Puerto Rico and Virgin Islands. Vehicle weight and mileage restrictions apply.

Minimum loan amount is $ for 61-72 month term. Minimum loan amount $ for 73-84 month term. Rate also depends on term.

Loan Payment Example: A $20,000 new auto loan financed at % APR would amount to 60 monthly payments of approximately $ each.

Used Auto Loans: Maximum used car loan advance will be determined by PenFed using a JD Power value. Financing is available up to the JD Power valuation plus tags, title, taxes and extended warranties not to exceed 125% in the U.S. Up to 110% financing is available in Puerto Rico and Virgin Islands. Some restrictions apply. Call 1-800-247-5626 for details.

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 used auto loan financed at % APR would amount to 60 monthly payments of approximately $ each.

Refinance Auto Loans: New vehicles are where you are the original owner and the untitled vehicle is model year or newer with less than 7501 miles. Used vehicles are pre-owned vehicles or vehicles with over 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.

Rate depends on term. Other restrictions including vehicle and mileage limitations may apply.

Loan Payment Example: A $20,000 new auto loan financed at % APR would amount to 60 monthly payments of approximately $ each.

PenFed Car Buying Service:

PenFed Car Buying Service is available in all 50 states.

Loan Payment Example: A $20,000 new auto loan financed at % APR would amount to 36 monthly payments of approximately $ each.