View Single Post
Old 03-10-2009, 03:34 PM   #71 (permalink)
Base Member
Join Date: Feb 2009
Location: Maryland
Posts: 8
Drives: Considering 370Z
Rep Power: 15
MD370Z is on a distinguished road

Originally Posted by AK370Z View Post
One of the first question on the loan app. "Do you know know the exact car you want"? When you say NO (that's what I did since I didn't have the VIN), it omits all the car info. You can proceed through the whole application process and have the check FEDEXed the next day. When you receive the check, you'll see empty boxes for Dealer to fill out (VIN no, amount etc). Just take the check to the dealer and they'll fill it out for you. They are aware of this kind of check. PenFed also includes a very easy to follow instructions.

BTW, I just paid my 1st payment. From the next payment, the amount will be deducted straight from my checking account so I don't have to worry about paying the bill on time. I also saw this on my bill:

PrePayments: If you pay off early, you will not have to pay a penalty.

There are many financial institution that charges extra fee if you want to pay off your loan early . But NOT PenFed! I will try to pay off as soon as possible without worrying about any penalty fee.
Great, thanks for the info (again)! I assume you do not have to use a Pen Fed checking/savings account to use the auto-debit feature?
MD370Z is offline   Reply With Quote