Exactly, They told me 5% also, I told them I'll get it somewhere else for 1.99%, dealer says if we can match that will you sign now!! Sneaky also! But I actually couldn't get 1.99% for 60 months! I lied to them too HAHAHA.

Thanks for this thread. Without this thread, I wouldn't know about PenFed. Got approved with PenFed for 2.49% APR for 60 months and informed the dealer about it. Next thing I know dealer found a better one, 1.90% APR for 60 months!

Hey guys I just had a question regarding Penfed.

Has anyone been declined by Penfed? (If you don't mind sharing, could you state the reason why you got declined?)

I haven't applied for an auto loan with them yet, but I'm a bit hesitant to start. The reason I say this is because I've been declined twice, once at a dealership and once again at Chase.

The reason was because I have a short credit history. My credit otherwise is great and I have no dings or negatives on my credit report. The lenders stated that the only way I can get those loans is if I can get a co-signer, which unfortunately I am currently unable to..

I'm a full-time student and I calculated my budget/finances to see how much monthly payment I can afford comfortably (<5% APR or ~$540 monthly payment) on a base model Z.




TL;DR: Is Penfed more 'lenient' with loans or does anyone know a credit union who will loan even with a short credit history.

Thanks for your time!

FYI Nissan is doing 0% right now, I believe I put like 5K down and $550 a month
If you are getting a base, I recommend the new leasing rates. I think its around 2K down and 300'is a month.

I took advantage of 0% also. 5k down $645/60 months for a nismo.

Interest rates are so low right now some great deals to be had.....

Don't you still have to pay for borrowing the money, even if you got 0% APR. That just means they aren't making money off you from the interest, that is if you pay off the car in a timely manner.

I joined an FCU (non-DoD), and just got approved for 2.24%. Additionally, while i have a very good credit score (825), the only credit history i have is my emergency credit card which i haven't used at ALL in 5 years.

Just got my 2012 370z Touring w/ sp with 0%apr 0 down

Leased a new 12 370z touring w/sport pkg

money factory was pretty good @ .00109

Remember if you have a nissan loan so long as you pay your payments good(12 months history) they will always give you the best tier 0 rates lease or purchase no matter your credit score!!

Rookies............ The month of April was 0% interest for 60 months & 2.99% interest for 72 months. Follow & keep close tabs on what Nissan is offering.

GTR Man: Wow 8 hours using your calculation becomes 80 hours.

You state at 5.74% interest he would only pay $1540 in interest. Not sure what you assumed he was financing, but assuming 10% down. His interest payment would be $7,241.

Hmmm... 8 hours @ $20 per hour = $160 of effort for saving $1,622 and the initial cost of the car was lower as well. Looks like he did pretty well, even using your inflated numbers.

got 1.99% from 5% initial deal. I was originally going to go through my bank as I got pre approve for 2.99% 72 months but I got the car for such a good deal (literally a steal) along with the full 72 month warranty, processing the loan application was all my dealership could really get out of me. They offered a low APR even my bank could not match under their terms and condition hence I couldn't refuse.

Will history repeat itself with 0%?
 

I'm wondering if Nissan will do it's traditional 0%, 0%, 0%, 0% soon to help get rid of the 2019s?