Not to wade into the finance vs. cash decision, though I happen to agree if the money is as cheap as it is right now (1.49% is less than inflation!), you should take advantage of it...

I am in the process of using PenFed right now and can say the process is pretty simple. I joined, applied for a loan, and was conditionally approved (pending documents and buyer's order from dealer) in a matter of an hour.

I am still conditionally pending as it takes some time each time you fax or email them documentation for them to acknowledge receipt and to file the paperwork. I am hoping to have my check in had early next week. Fingers crossed.

 

I love Avus Blue E36 M3's. Do you have any pics?

 

Thats true too...
I guess it all depends if they would like to have a clear free title and no debt over there head OR can and will make extra money in that situation..
I have been on both sides in similar situations..

 

Don't get me wrong, I typically just like to pay for everything as well but with the cost of money being so low these days, I actually decided to put less down on my TT than I could have.

IF for some reason, I would need the money, I'd much rather put it in a more liquid asset than a 10y sports car that may be kind of a tough sale in this economy.

 

More Pics Here: http://forums.bimmerforums.com/forum/showthread.php?t=1892341

 

Thanks everyone! Looks like Pen Fed it its! Can't beat those rates.

 

Shore auto lease. Ask for Ronnie. Ronnie has been in the business for
30 years and he does classic, sport and luxury cars.
He will even finance modding your car!!! He didn't finance mine, but it's
cool to know such a service is available. I know him personally and he's
a stand up guy with a myriad of financial options.

 

Just emailed penfed all my info, I'll let you guys know if I get my loan transferred over.

 

Make sure you continue to login and check the status in your online account.

I guess PenFed might eventually inform you via email or phone call if they need extra info or an updated form, but had I not been checking to see the notes the loan officer placed in my account, I might still be in the dark.

My entire process took 7 business days from application to the funds being "transferred" aka mailed to me. I could have cut out an easy 3 of those days by having the correct buyer's order from the dealer to begin with and another 1 day by faxing the forms instead of emailing them (as the rep on the phone told me they are quicker to route faxes than emails).

Best of luck!

 

OK, I got this done. I was at 5.too much percent interest and am now down to 1.49%. They are sending the check now and I will be set. Saves me over 100 a month, and it's so cheap that I went ahead and financed the full 60 months. Thanks to you guys!

 

I also vote for Penfed. I paid a large portion of my car and my wife's Lexus up front and got 1.49% for both cars. I could pay both cars off but I don't see the point at that rate. Penfed is great to work with.

 

For the new Penfed members, it's the easier non-face to face approval and process you can get. It's a great organization that really takes care of their members and cares. I've had a few loans with them, the last one I applied for had me approved in about 10 seconds after giving them the Vin for 100% of the car. Keep your credit right, and you'll always be right for future loans.

Sweet I'm not the only one thinking this haha. I have my m3 with them, although I paid cash originally. My philosophy is to pay cash or have the cash to buy the car originally in the event of job loss or traumatic event your still able to make payments. I live pretty basic, I know it's different for the married and family men on this forum.

 

No matter what type of credit you have, you can still get an auto loan. That is the very best part of a site I found. Not only did it help me locate a great vehicle for a really inexpensive price; it also helped me get an auto loan regardless of my less-than-perfect credit. How many times have you required further info about a used or new automobile and resorted to an internet search on ”loans for car?” Look no further, all the details you need is located at CarDealExpert.com!

 

Interesting topic. Over the last several months, many of the biggest credit card companies have raised interest rates and tested new annual fees on some products. However, the PenFed Promise Visa is a rarity among charge cards. How so? Try its no-fee structure, for starters. If you or a member of your household is a member of the U.S. armed forces or affiliated group, you are eligible to join Pentagon Federal Credit Union and make an application for the card.

 

Not just members of the armed forces, you may also join through a small donation to one of a few charities they recommend (I did through a $20 donation to a charity listed on their site).