I've noticed quite a few people posting about their plans to buy a car in the somewhat near future. My credit union has several car loan policies that I really like. I thought some of you might be interested.
First, they will loan 100% of the blue book for any year car. I believe this is a pretty unusual policy although I presume there must be other places that will do this. If you are buying a really old car they require you to submit a set of photos but that is reasonable. And if you are buying an old car they use the value from the "classic car" guide to determine what they will loan you.
Second, their rates are good. Right now it is 3.9%.
There are a couple caveats:
If the car has over 100,000 miles then the loan must be 2 years or less.
They are more reluctant to loan money. You must have a good credit record and be able to easily afford the loan.
Anybody can become a member. Here's how (this is a copy/paste from their website):
If you've reviewed our eligibility list and did not find an eligibility through which you could join, you can STILL become a member!
Here's How :
Join the National Military Family Association and you're immediately eligible for membership in Pentagon Federal Credit Union.
The National Military Family Association (NMFA) is a leading non-profit advocacy organization for military families whose membership is open to anyone who supports their important work on behalf of military families.
You can join both NMFA and Pentagon Federal Credit Union right now using our joint membership application.
You can find more about NMFA here.
Please note: A 1-year membership in NMFA is all you need
Their website is at: www.penfed.org
I don't work for them or anything so I hope nobody considers this a commercial post. I just thought it might help somebody out. If you guys know of a better deal I'd like to hear about it. I'm always looking for ways to keep more of my money mine!
First, they will loan 100% of the blue book for any year car. I believe this is a pretty unusual policy although I presume there must be other places that will do this. If you are buying a really old car they require you to submit a set of photos but that is reasonable. And if you are buying an old car they use the value from the "classic car" guide to determine what they will loan you.
Second, their rates are good. Right now it is 3.9%.
There are a couple caveats:
If the car has over 100,000 miles then the loan must be 2 years or less.
They are more reluctant to loan money. You must have a good credit record and be able to easily afford the loan.
Anybody can become a member. Here's how (this is a copy/paste from their website):
If you've reviewed our eligibility list and did not find an eligibility through which you could join, you can STILL become a member!
Here's How :
Join the National Military Family Association and you're immediately eligible for membership in Pentagon Federal Credit Union.
The National Military Family Association (NMFA) is a leading non-profit advocacy organization for military families whose membership is open to anyone who supports their important work on behalf of military families.
You can join both NMFA and Pentagon Federal Credit Union right now using our joint membership application.
You can find more about NMFA here.
Please note: A 1-year membership in NMFA is all you need
Their website is at: www.penfed.org
I don't work for them or anything so I hope nobody considers this a commercial post. I just thought it might help somebody out. If you guys know of a better deal I'd like to hear about it. I'm always looking for ways to keep more of my money mine!
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