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Jan 14 2020

Payment Saver Auto Loans from PenFed – Find, Compare, and Apply Today, payment calculator auto.

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Payment Saver Loans

Save money by lowering your auto payments.

NEW PAYMENT SAVER RATES

Never titled current ( ) and previous model year ( )

Loan Payment Example: A $27,000 new auto financed at % APR; 60 monthly payments of approximately $ each, with a final balloon payment of approximately $ .

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

FEATURES BENEFITS

  • Loan amounts up to $100,000
  • Lower monthly payments
  • Easy online application
  • Quick approvals

USED PAYMENT SAVER RATES

Rate valid for current ( ) and previous two model years ( В В )

Loan Payment Example: A $27,000 used auto financed at % APR; 60 monthly payments of approximately $ each, with a final balloon payment of approximately $ .

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

• The vehicle is yours; this is not a lease

• No pre-payment penalties

• Sell, trade, or refinance*, at the end of your loan term

• Payment saver loans aren’t applicable to SUVs or trucks

DISCLOSURES:

Payment Saver Auto Loans:В

With Payment Saver Auto Loans, you will be able to make a lower payment than what the conventional auto loan would offer, yet at a higher interest rate. Then, at the end of the loan, you will owe the remaining balance of the loan itself. At this juncture, you may choose to pay off the loan or sell, trade, or refinance the vehicle.

*There is no guarantee of refinance. Refinancing subject to PenFed’s current creditworthiness standards.

Your Payment Saver Auto Loan payment is calculated based on the loan term, the amount you have requested, and the residual value of the vehicle. The residual is the expected value of your vehicle at the end of your loan term.

The difference between your loan amount requested and the residual value is amortized over the loan term, resulting in a low monthly payment without the danger of your becoming upside-down in the loan.

The residual value of the vehicle after the loan term is an estimation. We cannot guarantee this value. The residual value is subject to current used car market conditions and depends on a number of factors including, but not limited to, the mileage the car has been driven and the condition of the car at the end of the loan term.

Trucks, Vans, Crossover Vehicles, Smart cars and SUVs are not eligible as Payment Saver Loan vehicle types. This restriction includes hybrid trucks and SUVs as well.

Pre-approved drafts are not available for Payment Saver loans.

NEW VEHICLES: Never titled; Current ( ) and prior model year ( ).

USED VEHICLES: Current ( ) and prior two model years ( В В ).

The vehicle mileage may not exceed 15,000 miles per year based on the model year.

Used car loan value based on NADA Retail Value. Other restrictions may apply. Call 800-247-5626 for details.

Payment calculator auto

GAP Protection

Typical car insurance covers damage and theft. But what if your loan is more than the value of your vehicle? PenFed’s GAP Insurance covers that difference.

Payment calculator auto

Extended Warranty

PenFed’s Extended Warranty can extend your auto manufacturer’s warranty by picking up where that policy leaves off.

Payment calculator auto

Debt Protection

Life is unpredictable. With PenFed Debt Protection, your family’s financial security is protected in the event you’re unable to make timely payments.

LEARN

Discover new and interesting items right here:

PenFed Premium Travel Rewards American ExpressВ® Card – 5x points on airfare purchases, 1x points on all other purchases. Apply online today.

Shopping for a new ride? Check out PenFed s great motorcycle loan rates and make every day an adventure!

Lease vs. Buy: How Should I Pay for My New Car?

Payment calculator auto

If you thought conversations about religion or politics could get contentious, try being a fly on the wall when two people are talking about whether to lease or purchase a car. You’ll see both sides at each other’s throats, each claiming to enjoy the lion’s share of advantages and disdaining the drawbacks of the other–and the funny thing is, they’re both right.

Buying a car versus leasing is less a financial issue than a matter of lifestyle. A financial tally of both options would probably show you a fairly clear-cut choice, but you’d be overlooking the benefits and drawbacks associated with whether or not the car actually belongs to you.

If you’re the kind of person who likes to drive off the lot in a new car every few years, leasing is the way to go. Not only will you ensure you’re always behind the wheel of a relatively shiny set of wheels, but since monthly lease payments are usually lower than loan payments, you’ll be getting more car for your dollar.

On the other hand, if your goal is wringing maximum value out of your investment, buying is the way to go. Once you’re done paying, you simply keep on driving–no monthly payments in sight.

Let’s look at the major advantages and drawbacks of both leasing and purchasing a car.



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