PenFed.Org is Awesome!
Thread Starter
Senior Member
Joined: Aug 2008
Posts: 261
Likes: 0
2009 C63 AMG
PenFed.Org is Awesome!
Just got my funding check for my Palladium Silver/Black C63 AMG.
I went with PenFed.org on the advice of one of the members here.
So far it's been the easiest car buying experience I've ever had.
It's also the best rate that I could find anywhere - 4.75%.
It was 4.5% about 6 weeks ago but it jumped a 1/4 point.
They sent me two checks. One for the dealer (Calif) and one for my AZ taxes.
I would strongly encourage you all to take a look at PenFed.org.
If you're not military you have to make a small donation ($25) in order to become a member. Once you are a member you get all the sweet benefits!
Hawth
I went with PenFed.org on the advice of one of the members here.
So far it's been the easiest car buying experience I've ever had.
It's also the best rate that I could find anywhere - 4.75%.
It was 4.5% about 6 weeks ago but it jumped a 1/4 point.
They sent me two checks. One for the dealer (Calif) and one for my AZ taxes.
I would strongly encourage you all to take a look at PenFed.org.
If you're not military you have to make a small donation ($25) in order to become a member. Once you are a member you get all the sweet benefits!
Hawth
MBWorld Fanatic!
Joined: Aug 2008
Posts: 1,291
Likes: 1
From: N.Jersey and New York, stationed in Germany
W164 ML500,SMART For two,1994 C280(5speed manual) 1999 C230k station wagon
I am located at Spangdahlem AB. Germany and belong to the Service Credit Union and it practicaly the same as Pentagon, congrats to you. 
Senior Member
Joined: Jun 2008
Posts: 294
Likes: 0
From: San Antonio, TX
09 C63
You better hurry up man... rates are changing quick! I got my 4.3% from community a couple months ago and they don't have that anymore...
Super Member
Joined: Aug 2008
Posts: 556
Likes: 1
2009 C63 Capri Blue
Easy as pie.
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Thread Starter
Senior Member
Joined: Aug 2008
Posts: 261
Likes: 0
2009 C63 AMG
Hawth
Out Of Control!!
Joined: Nov 2002
Posts: 12,470
Likes: 0
From: around the world
monowiper
for everyone interested in joining PenFed
it's easy
https://www.penfed.org/howToJoin/overview.asp
scroll to option #7
one time $20 fee will get you into PenFed
gl, only heard good things about them
it's easy
https://www.penfed.org/howToJoin/overview.asp
scroll to option #7
one time $20 fee will get you into PenFed
gl, only heard good things about them
Super Member
Joined: Aug 2004
Posts: 566
Likes: 5
2012 E350 4matic
ok quick question. IF you do a money saver payment AND something happens a few years down the line when the balloon is due.... will they let you refi the balloon if you dont have/ or want to part with the cash right then? just dont want to lock into a balloon and something unforeseen happen years down the road... can anyone answer this?
Super Member
Joined: Oct 2008
Posts: 546
Likes: 0
From: Pittsburgh, PA
2009 C63 AMG
ok quick question. IF you do a money saver payment AND something happens a few years down the line when the balloon is due.... will they let you refi the balloon if you dont have/ or want to part with the cash right then? just dont want to lock into a balloon and something unforeseen happen years down the road... can anyone answer this?
The difference in APR from the payment saver and the regular loan is very slight. So, if you're concerned about what might happen down the road, why not do the payment saver, but pay the difference in price as to the regular loan into a ~3% (or higher) money market account. That way down the road if you're in good shape, pay down the principal balance with what's been invested in your money market. If you're not in good shape, then use that money for whatever had arisen.
IMHO if you don't today have at least 6 months worth (or even 9 or more in this economy) of living expenses set aside in cash (bearing low-risk interest), this is not the car for you. But if you do, and you're just concerned about the unknown, I think the above strategy might be a good one for some people.
Oh, and to clarify, yes, you can refinance the balloon assuming someone (bank, etc.) is willing to lend you the money at the time the balloon is due.
Last edited by taylorcoleman; Feb 10, 2009 at 08:23 PM. Reason: Clarification
MBWorld Fanatic!
Joined: Apr 2005
Posts: 1,424
Likes: 0
From: Northern NJ
2009 C63
Just got my funding check for my Palladium Silver/Black C63 AMG.
I went with PenFed.org on the advice of one of the members here.
So far it's been the easiest car buying experience I've ever had.
It's also the best rate that I could find anywhere - 4.75%.
It was 4.5% about 6 weeks ago but it jumped a 1/4 point.
They sent me two checks. One for the dealer (Calif) and one for my AZ taxes.
I would strongly encourage you all to take a look at PenFed.org.
If you're not military you have to make a small donation ($25) in order to become a member. Once you are a member you get all the sweet benefits!
Hawth
I went with PenFed.org on the advice of one of the members here.
So far it's been the easiest car buying experience I've ever had.
It's also the best rate that I could find anywhere - 4.75%.
It was 4.5% about 6 weeks ago but it jumped a 1/4 point.
They sent me two checks. One for the dealer (Calif) and one for my AZ taxes.
I would strongly encourage you all to take a look at PenFed.org.
If you're not military you have to make a small donation ($25) in order to become a member. Once you are a member you get all the sweet benefits!
Hawth
Im in the process of getting a loan for about 1/2 the amount of the car @ 3.99% and it looks like im approved pending some documents they need to verify...
the best MB was able to do for me was 6% -
again, thanks hawth!
Last edited by PatSC23; Mar 27, 2009 at 06:47 PM.
