Anyone have any other sites that have low APR like this ? I dont think i meet the qualifcations for this loan because i was never in the miliatary.

Turtleman said:LOL... got penfed membership.. applied for the loan - denied... took them 4 days..
Called them, they told me I don't make enough for the loan... @#%(#)%^

While my own credit union pre-approved me for 50k car loan...

it is very funny that PenFed would tell that to someone that makes 70k a yr with 780 credit score..

As a data point, what's your debt to income ratio, and what amount was the loan request?

I applied for the penfed gas rewards card recently and they denied that, same for this loan which I am assuming they used the same pull. I got a new mortgage in August with scores around 750, I have opened about 2 accounts since then which I know is hurting me. I am about to close a revolving account for a car loan when my tax returns hit.

Any suggestions on how long I should wait before reapplying for the card / car loan since they are basing it all on the new accounts (including the mortgage)

I wonder this too????

beatnik28 said:Turtleman said:LOL... got penfed membership.. applied for the loan - denied... took them 4 days..
Called them, they told me I don't make enough for the loan... @#%(#)%^

While my own credit union pre-approved me for 50k car loan...

it is very funny that PenFed would tell that to someone that makes 70k a yr with 780 credit score..

As a data point, what's your debt to income ratio, and what amount was the loan request?

I got a check by penfed for a vehicle I own outright... Has anyone one done the paper work for this time? Should I just mail in my title certificate w/o signing off the deeds transfer since technically I am not selling the car?

Turtleman said:it is very funny that PenFed would tell that to someone that makes 70k a yr with 780 credit score..

Wow I don't have a chance. Turtleman, I'm also waiting for you to get back about the debt/income ratio. Thanks.

Thanks! Just applied for a $12K used car loan and got instant approval. Called after an hour and was told that the check was already mailed - made out to both mine and the seller's name so I have the choice of either depositing it or endorsing it over to him.

okwiater said:d1sturbdapeace said:Thanks! Just applied for a $12K used car loan and got instant approval. Called after an hour and was told that the check was already mailed - made out to both mine and the seller's name so I have the choice of either depositing it or endorsing it over to him.Be careful with this.

When I sold a car a couple of years back, the buyer brought a check made out to both my name and his. My bank at the time (Chevy Chase Bank) with whom I had a good relationship was very insistent all the way up to management that not only did BOTH parties have to endorse the check, but BOTH parties had to have an account with the institution! This was with both me and the buyer standing right there in front of them. They eventually did allow me to deposit it when they got a phone call from the bank manager of the buyer's bank.

Just a data point. (And also, is it any big surprise that I'm no longer a member of that institution?)
Thanks for the head's up. Worse comes to worse I shouldn't having a problem depositing it to my own account and getting a cashier's check for the seller once the funds clear.

Just paid an additional $5K on my existing penfed car loan, and refinanced it through them.....

Payments went down by $80 per month, and saved $486 over the life of the loan in interest.

Anyone know how long it takes to get the $5K check from them?

ecjjones said:Just paid an additional $5K on my existing penfed car loan, and refinanced it through them.....

Payments went down by $80 per month, and saved $486 over the life of the loan in interest.

Anyone know how long it takes to get the $5K check from them?
I applied Monday morning. Got approved and rec'd my $12K check in the mail today.