I was at 6.25% with PFS and couldn't resist this rate. Set it up so payments stay the same. Effectively reduces term by 4 months. Was a piece of cake. Called and a rep took my info on the phone. She called back 10 minutes later and said all was set pending receipt of a pay stub (required for all new customers). I faxed it over and we're done. I have seen several posts saying they were difficult, but it couldn't have been easier.

 

Nice...

 

Do you refi with the same company? Do you have the phone number for Penn Fed? Thank you.

 

Do they charge you for closing costs / other charges?

 

Pentagon Federal's # is 1-800-247-5626 or https://www.penfed.org/index.asp

By the way, Navy Federal Credit Union has a 3.5& rate.

 

It's a car loan so no costs (other than the $25 donation if you are not a gov't employee). Number is on previous post.
I think you need to be military related for the Navy CU, but I could be wrong.

 

So U Need To Be Military Related To Get In? Or Is That For An Additional Discount?

 

I just signed up with them as well, no military background required.

 

As an FYI, I am already with PenFed @ 5.5%. I called today about re-financing to the new rate, and they require that you add another $5K to the balance to re-finance with them. It puts $5K in your pocket, but the monthly payment goes *up*, so it didn't make sense for my situation. YMMV.

 

Or you could just repay it right away. Sure you would owe a few days interest, but it may be worth it. Just do the math.

 

Cool.

 

First off this is a great site, and second I took advantage of your post and refinanced one of my vehicles with them as well... Originally my used car loan that was at 8.25 is now 4.25 and just like the original poster, kept the same payment but reduced the terms.

Thanks for sharing.

David

The past:
1989 Porsche 944 Turbo S 'Emily'
1986 Porsche 944 Turbo

 

pen fed is awesome.