At a Glance
Rates & Fees
Key Features
Competitive new & used rates
Partner dealer network for additional discounts
Easy pre-approval
Pros & Cons
Pros
- Very competitive rates
- Can finance private-party sales
- Membership is open to all (donation required)
Tradeoffs
- Credit union membership required
- Higher rates for older/higher-mileage vehicles
How to Apply
Get pre-qualified with PenFed Credit Union to see an estimated rate before you shop for a vehicle, if the lender offers it.
Compare your pre-qualified rate against at least one other lender or your dealership's financing offer.
Gather proof of income, insurance, and identification, plus the vehicle's details (VIN, price, mileage) for the formal application.
Submit the full application through PenFed Credit Union directly; approval usually involves a hard credit inquiry.
Review the final APR, term, and total interest on the loan agreement before signing at the dealership or online.
How It Compares
Current product highlighted| Product | APR Range | Loan Amount | Vehicle Age Limit |
|---|---|---|---|
| PenFed Auto Loan | 5.19%–17.99% | $500–$150,000 | New & used |
| Consumers Credit Union Auto Loan | 3.99%–19.99% | $250–$500,000 | New & used (up to 10 years old) |
| LightStream Auto Loan | 7.24%–15.89% | $5,000–$100,000 | Any age |
| Capital One Auto Finance | 5.57%–19.99% | $4,000–$75,000 | New & used (up to 10 years old, under 120k miles) |
Rates and terms shown are illustrative as of 2026 and vary based on creditworthiness, vehicle, and loan term — always confirm current terms directly with the lender.