How I have scored invoice pricing with 3.99% APR on my 370Z?

B100 · 03-13-2012, 04:18 PM

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!

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03-13-2012, 04:18 PM	#11 (permalink)
B100 Base Member Join Date: Mar 2012 Location: SoCal Posts: 8 Drives: 00 Toyota Celica Rep Power: 15	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!