Good spot for a viper loan! (PenFed 1.49%)

Martin2000GTS · Aug 7, 2012

Im sure most of you might know already, but just wanted others to know in case people were looking at older vipers to refinance/buy. I have owned my viper out right for a while, but while on the phone with PenFed the other day I decided to refinanced my 2000 viper (12 years old) at 1.49% for 60 months with PenFed. They gave me 100% value (which according to them is $38,000. Gonna use the money to rebuild my cottage up north! Figure it was cheaper than getting a larger mortgage on the cottage. (currently 5.25%), And with my average credit score it was an easier way to get a loan (loan against my car)

to bad my 2000 viper will be 17 years old when I finish paying it off now! haha. At least it keeps me in the club for another 5 years!

Martin- :usa:

mnc2886 · Aug 7, 2012

That is a great rate. I wonder how many here have done the 8-9-10 year loans on the big boy purchases. I haven't seen any agressively low rates on those time frames.

Martin2000GTS · Aug 7, 2012

if Pen Fed offered a 10 year loan id be driving around a gen4 ACR right now lol.

Moundir · Aug 7, 2012

That's awesome Martin, but that bank is not too bright to say the least lol. When is the cottage gonna be done? I'm still waiting for an invite

orsini112 · Aug 7, 2012

Only you martin

klamathpro · Aug 7, 2012

I think you bank has been feeding on too many pens because the ink has gone to their brain.

SSGNRDZ_28 · Aug 7, 2012

mmmm.... pens

I have PenFed for my Viper loan. Highly recommended, great rates.

DrTaco · Aug 7, 2012

Dealt with Penfed in the past. Great rates and PERFECT customer service.

Martin2000GTS · Aug 7, 2012

Steve,

They gave me a credit card with a $27,000 limit, 4.99% rate for life with no transfer fees.....idiots.....do they know who they are dealing with here? But really....not bad right?

Mike/Moundir, come up guy, you should see what it looks like now (POS) gonna be pretty nice in a few months (hopefully). If you ever wana come up to NH Im up every weekend just let me know. (Steve this invite does not go out to you)

I have a neighbor 2 houses away from me with 4 vipers!!

Martin-

AFL in NJ · Aug 7, 2012

I've been a PenFed customer for 8 years, they are awesome!!

Regards,
Aaron

ninjakris · Aug 7, 2012

Penfed is a pretty good bank to work with. I took the advise of other members here and went with Penfed for my load and can't be happier. I only have 2.5% but still can't complain.

troublemaker · Aug 7, 2012

Thanks for the tip, I just joined.

MattInNC · Aug 7, 2012

Thanks for the heads up. Joining now.

latamud · Aug 8, 2012

I have an account with PenFed, just so I could finance my Viper and refinance my wife's car. Went from 3.9% to 1.99% 2 years ago, all paid off now.

MoparBoyy · Aug 8, 2012

looks like i gotta give them a call. i have just over 3 years left on mine.

MoparBoyy · Sep 11, 2012

THANK YOU THANK YOU THANK YOU! signed up with PenFed a few weeks ago, been going thru all the paperwork, they just approved my Viper refinance at 1.49%! dropped my payment by $150 a month!

latamud · Sep 11, 2012

MoparBoyy said:
THANK YOU THANK YOU THANK YOU! signed up with PenFed a few weeks ago, been going thru all the paperwork, they just approved my Viper refinance at 1.49%! dropped my payment by $150 a month!

Take that $150 (or as much of it as you can) a month savings and apply it towards principal each month if you can, you'd get your car paid off faster.

AFL in NJ · Sep 11, 2012

The thing that shocked me more than PenFed's rates were that they actually treated me like I mattered as a customer, where previous banks just acted like I was a number. I hope to use them for a mortgage in 2013.

Regards,
Aaron

MoparBoyy · Sep 11, 2012

latamud said:
Take that $150 (or as much of it as you can) a month savings and apply it towards principal each month if you can, you'd get your car paid off faster.

totally planned on it. just gonna keep paying the same amount, then if something comes up that i need the extra cash. boom.

GViper · Sep 11, 2012

Do you have to be a member of the armed forces to join?

MoparBoyy · Sep 11, 2012

GViper said:
Do you have to be a member of the armed forces to join?

nope. you just donate some money to a Vet fund and you can join up. thats what i did.

AFL in NJ · Sep 11, 2012

Same here, eventually I just bought the lifetime membership, which goes to help the military family association, so there are no negatives that I can see.

Regards,
Aaron

GViper · Sep 11, 2012

Any specific Vet funds?
I assume once donation is done I can become a member?

AFL in NJ · Sep 11, 2012

Yes, I believe it was $50 (which was way less than my savings per month every month) once a year and it goes to the Military Families Association:

http://www.militaryfamily.org/

"The National Military Family Association is the leading nonprofit group dedicated to improving the lives of officer and enlisted families in all seven Uniformed Services. We began in 1969 with a handful of wives gathered around a kitchen table determined to ensure financial security for military widows.
The military has changed dramatically since that first success 40+ years ago, and the lives of its families with it. Unlike previous wars in which most draftees were single, half of today’s volunteer military is married with more than 1.6 children. We help proud but anxious spouses, children, and parents surmount the challenges unique to military life, and help protect benefits vital to them—including families of the deployed, wounded, and fallen."

http://www.penfed.org

Regards,
Aaron

MoparBoyy · Sep 12, 2012

mine was only $15. i dont remember which fund it was, it was a link on the PenFed website.

netapp · Sep 12, 2012

I recently refinanced my viper and wifes suburban and had both approved in 5 minutes and the checks in the mail about a week later and was not a previous member with them either. Very easy phone application. I have referred them to many other people since this post also. I wonder if they are wondering what is going on with the recent influx of refi's from viper owners.

GViper · Sep 12, 2012

Great!
Thanks so much for the info. The auto loan rates seem to good to be true.

ninjakris · Sep 12, 2012

I just recieved an email today for a september online car purchase deal.

0.49% up to 48 months
0.99% up to 60 months

I think its only for new purchases of new/used cars, but if anyone else out there is trying to make a purchase, it seems like a good deal.

viper k · Sep 12, 2012

just signed up with PEN FED got a loan for 1.49%

fuel_junkie · Sep 12, 2012

I shouldn't need a full loan but when I do I will defensively be going with pen fed.

Good spot for a viper loan! (PenFed 1.49%)

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