⭐ Editor's Choice — Top Rated Pick
PenFed Credit Union Auto Loan
📍 Available in: US
★★★★★ 4.8 / 5.0
Pentagon Federal (PenFed) Credit Union is renowned for having some of the lowest auto loan rates in America. Although originally created for defense and military personnel, membership is now open to any US citizen with a simple $5 savings account deposit. PenFed finances new, used, and refinanced cars, with additional APR discounts when using their Car Buying Service.
Key Facts at a Glance
| APR / Rate | 4.89% - 10.99% |
| Coverage / Loan Limit | $500 - $150,000 |
| Credit / Eligibility | Good to Excellent (660+) |
| Terms Available | 36 to 84 Months |
| Origination Fee | $0 |
Pros & Cons
✓ Pros
- ✓Consistently beats commercial bank APRs by 0.5% to 1.5%
- ✓Allows pre-approval checks so you can shop with confidence
- ✓Finances private party vehicle purchases as well as dealership sales
✕ Cons
- ✕Must open a PenFed savings account ($5 minimum) to finalize funding
- ✕Longer terms (72-84 months) carry higher APR thresholds
Key Features
Open to Anyone (No military affiliation required)PenFed Car Buying Service APR DiscountsTerms from 36 up to 84 MonthsFinancing up to 125% of vehicle valueNo Application or Origination Fees
Compare PenFed Credit Union Auto Loan Side-by-Side
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