PENFED Credit Union Information - Page 3 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

wullger · 06-23-2009, 04:31 PM

1. Accepted
2. 37k (figured better to leave myself room and borrow a little over, rather than too little)
3. 740
4. approved instantly
5. 4.75 for the 72 month option.

6. Now to wait! From what another member had posted, I specified that I hadn't chosen a car yet, so the approval should have a 90-day lock.

Al 522 · 06-23-2009, 10:04 PM

I bank at www.rbfcu.org and when I applied for the loan, I asked for $38000 and they sent me a blank check for $40000. The loan is 3.7% for 66 months.

southpaw1746 · 06-23-2009, 10:36 PM

Do you have to live locally to apply for the loan?

Quote:

Originally Posted by Al 522

I bank at www.rbfcu.org and when I applied for the loan, I asked for $38000 and they sent me a blank check for $40000. The loan is 3.7% for 66 months.

Vash · 06-23-2009, 11:19 PM

No you just have to be a member of CU to apply. Join and put $50 bucks in Savings.
RBFCU is military, civ service, teachers and a couple others. Penfed same but... it has what I would call a loophole. You donate cash to a charity I think. It's been posted how to join.

They setup automated payments so you just have to deposit cash and it makes the payment once a month. 99% of all NCUA CU's do that nowdays.

I do think it's better if you can find one locally so you have a person and a physical bank to deal with. Also the features you can use. There is a list and also the actual books at this site.
http://www.ncua.gov/

Al 522 · 06-26-2009, 04:48 PM

Quote:

Originally Posted by Al 522

I bank at www.rbfcu.org and when I applied for the loan, I asked for $38000 and they sent me a blank check for $40000. The loan is 3.7% for 66 months.

Also, if you take the GAP and life inisurance it drops to 3.5%. That's what I am going to do.

rforbes · 06-29-2009, 08:06 AM

1. Accepted
2. 40K
3. 900
4. approved
5. 3.99

87irocz · 06-29-2009, 12:06 PM

Quote:

Originally Posted by rforbes

1. Accepted
2. 40K
3. 900
4. approved
5. 3.99

You obviously have great credit. However, there is no way you have a FICO score of 900. It only goes as high as 850.

Here is a insert about FICO scores.

A FICO score is a reliable way for credit evaluation that has been widely accepted by most lenders. It was developed in the late 1950s by Fair Isaac & Co. and the Federal Trade Commission find this credit score to be acceptable. Through this method, the credit history of the borrower is condensed into a single number. FICO score range is between 300 and 850.

Good and Acceptable FICO Score Range

A FICO score that?s above 750 is excellent while the scores ranging from 720 to 750 are rated to be very good. If you have an excellent rating some lenders give better rates or discounts.

FICO scores that range from 680 to 699 are good. This means you can qualify for a normal loan. The rating is still okay or acceptable if your FICO scores range from 620 to 679. Some lenders won't deny your credit or loan application but surely, the terms and offers will not be as generous if your score was higher. However, you are still considered a low risk loan candidate.

Low FICO Score Range

A FICO score ranging from 580 to 619 will make brokers and banks love you. Wondering why? Simply because that is an uncertain score where bad credit usually starts. Lenders are still willing to grant your loan, but on their own terms and conditions. And it means that they earn big commissions from giving you much more costly loan.

Bad or Risky FICO Score Range

The real problem starts with a FICO score ranging from 500 to 580. With this score, your credit rating is bad. You can get your loan but you surely won't like it. Consider taking that loan anyway, since that can be the beginning or the foundation of your fresh start.

If you attain a FICO score of 499 and below, you are unfortunately in serious need of assistance. If there are lenders who are willing to get you a loan, the terms will simply be too brutal. So the best thing you can do about it is to try to repair your bad credit.

Muscle Master · 06-29-2009, 12:17 PM

My score is 723, got approve for a $40,000 loan ( with a $7,500 down payment) but only planning to finance 37,000

ssalter · 06-29-2009, 12:42 PM

Hey so my check from pen fed for 39k is made out to me and my delivering dealer, now i found out today that i need it made out to my ordering dealer. Got any ideas what i need to do? Wonder if my delivering dealer can cash the check anyways??

Vash · 06-29-2009, 12:45 PM

Quote:

Originally Posted by ssalter

Hey so my check from pen fed for 39k is made out to me and my delivering dealer, now i found out today that i need it made out to my ordering dealer. Got any ideas what i need to do? Wonder if my delivering dealer can cash the check anyways??

They have to make a new check and void the first. Call them and explain should be no big deal.

ssalter · 06-29-2009, 12:55 PM

Dam it!!!! Ok...guess will do, maybe they could mail it straight to my ordering dealer?

69Firebird · 06-29-2009, 01:35 PM

1. Accepted
2. 31K
3. ~ 740
4. approved
5. 4.75 for 72 Months

hb-rocks · 06-29-2009, 01:37 PM

Quote:

Originally Posted by ssalter

Hey so my check from pen fed for 39k is made out to me and my delivering dealer, now i found out today that i need it made out to my ordering dealer. Got any ideas what i need to do? Wonder if my delivering dealer can cash the check anyways??

They have Great customer service....

Just call them!

By Phone

Member Service & Loan Applications

Available seven days a week
at 800-247-5626
Toll free in the U.S.

* Monday - Friday: 7:00 am to 1:00 am Eastern Time
* Saturday - Sunday: 8:00 am to 1:00 am Eastern Time

rforbes · 06-29-2009, 02:16 PM

You obviously have great credit. However, there is no way you have a FICO score of 900. It only goes as high as 850. Here is a insert about FICO scores.

Humm, thats what I thought also. I have not checked my credit in quite a long time, even though I knew it was good, I ran a check with Transunion, and they indicated my credit score was 900!?!?!

Maybe that is what the additional $10.00 is for. They will tell you anything for extra cash. Regardless I knew it was good. I have OCD when it comes to paying bills on time.

06-29-2009, 01:35 PM	#40
69Firebird Drives: 2010 Black 2SS/RS LS3 Join Date: Mar 2008 Location: Boston Posts: 275 View My Garage	1. Accepted 2. 31K 3. ~ 740 4. approved 5. 4.75 for 72 Months __________________ *Delivered 8/4/09: Black on Black 2SS/RS, LS3, CGM Stripes, Polished Upgrade* K&N Typhoon Intake, Stainless Works 3" Catback w/ S-Tube Turbo Mufflers

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06-23-2009, 04:31 PM	#29
wullger Supercharged Drives: 2010 Camaro 2SS/RS Join Date: Apr 2009 Location: Tyler, Texas Posts: 1,576 View My Garage	1. Accepted 2. 37k (figured better to leave myself room and borrow a little over, rather than too little) 3. 740 4. approved instantly 5. 4.75 for the 72 month option. 6. Now to wait! From what another member had posted, I specified that I hadn't chosen a car yet, so the approval should have a 90-day lock.

06-23-2009, 10:04 PM	#30
Al 522 Drives: 68 Camaro, 2010 Camaro Join Date: Jun 2009 Location: Converse, TX Posts: 60	I bank at www.rbfcu.org and when I applied for the loan, I asked for $38000 and they sent me a blank check for $40000. The loan is 3.7% for 66 months.

06-23-2009, 11:19 PM	#32
Vash Drives: 00 Blazer Join Date: Aug 2008 Location: Texas Posts: 5,104	No you just have to be a member of CU to apply. Join and put $50 bucks in Savings. RBFCU is military, civ service, teachers and a couple others. Penfed same but... it has what I would call a loophole. You donate cash to a charity I think. It's been posted how to join. They setup automated payments so you just have to deposit cash and it makes the payment once a month. 99% of all NCUA CU's do that nowdays. I do think it's better if you can find one locally so you have a person and a physical bank to deal with. Also the features you can use. There is a list and also the actual books at this site. http://www.ncua.gov/

06-29-2009, 08:06 AM	#34
rforbes Drives: IOM SS/RS Join Date: Mar 2009 Location: The Colony, Texas Posts: 798 View My Garage	1. Accepted 2. 40K 3. 900 4. approved 5. 3.99

06-29-2009, 12:42 PM	#37
ssalter Drives: 2010 2ss/rs iom w/ blk & iom Join Date: Feb 2009 Location: C Arkansas Posts: 137	Hey so my check from pen fed for 39k is made out to me and my delivering dealer, now i found out today that i need it made out to my ordering dealer. Got any ideas what i need to do? Wonder if my delivering dealer can cash the check anyways??

06-29-2009, 12:55 PM	#39
ssalter Drives: 2010 2ss/rs iom w/ blk & iom Join Date: Feb 2009 Location: C Arkansas Posts: 137	Dam it!!!! Ok...guess will do, maybe they could mail it straight to my ordering dealer?

06-29-2009, 02:16 PM	#42
rforbes Drives: IOM SS/RS Join Date: Mar 2009 Location: The Colony, Texas Posts: 798 View My Garage	You obviously have great credit. However, there is no way you have a FICO score of 900. It only goes as high as 850. Here is a insert about FICO scores. Humm, thats what I thought also. I have not checked my credit in quite a long time, even though I knew it was good, I ran a check with Transunion, and they indicated my credit score was 900!?!?! Maybe that is what the additional $10.00 is for. They will tell you anything for extra cash. Regardless I knew it was good. I have OCD when it comes to paying bills on time.