PenFed Credit Union Auto Loans: 2022 Review, Rates

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PenFed PenFed car loan

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Advantages and disadvantages of PenFed auto loans

PenFed is best for borrowers who need a range of loan amounts. With loans as small as $500 and as large as $150,000, borrowers from all walks of life will find a match with the lender. If you value 24-hour customer service, PenFed is also a good choice because you can reach someone there 24/7.

If you don’t want to become a credit union member or need to buy out a lease, this lender may not be the best choice for you.

Comparison of PenFed car loans

How PenFed Compares

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Editor’s Note

4/5
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Regular APR

Starts at 4.44% APR

Editor’s Note

4.5/5
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Regular APR

New, used, refinance as low as 4.54%

Editor’s Note

3.5/5
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Regular APR

Dealer: 2.14% to 14.54%, Private: 4.64% to 21.04%, Lease buyout: 3.64% to 20.04%, Refinancing: 2.64% to 19.04 %

PenFed has rates comparable to Navy Federal Credit Union, but its APRs start higher than PNC rates.

PNC only offers financing for 2014 or newer model year cars. Navy Federal offers financing for cars less than 20 model years old. PenFed does not have a maximum age for used vehicles.

See our auto loan scoring methodology »

Frequently Asked Questions

PenFed has an A+ rating from the Better Business Bureau, a nonprofit organization focused on consumer protection and trust. The BBB determines its score by evaluating a company’s response to customer complaints, truthfulness of advertising, and transparency of business practices.

PenFed has no recent public controversies.

Between its top-notch BBB score and its clean track record, you might decide you’re comfortable taking out a personal loan with PenFed.

PenFed is a very solid option for auto loans. We gave the company a four out of five star rating, with its key benefits including its wide range of loan amounts and excellent customer service.

The credit union does not disclose its minimum credit score, but PenFed is more likely to approve you for a loan with a higher score.

You should receive your money within a day of your loan being approved by the lender.