Pentagon Federal Credit Union Auto Loans

Pentagon Federal Credit Union Auto Loans Reviews

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About Pentagon Federal Credit Union Auto Loans

Pentagon Federal Credit Union Auto Loans Reviews

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    How do I know I can trust these reviews about Pentagon Federal Credit Union Auto Loans?
    • 4,464,082 reviews on ConsumerAffairs are verified.
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 2 Reviews 10 - 40
    Customer ServiceStaff

    Reviewed Aug. 29, 2021

    Pen Fed was recommended for auto refinancing due to their great rates. Was required to open an account with them first before applying for the auto refinance. I went online and tried opening a savings account and after submitting my info with social security number, it then had me submit a photo ID, proof of Social security number and address verification. Then it said someone would contact me after the info was reviewed. Also received an email that said someone will review the info and reach out to me within 3-5 business days. I called penfed a few days after to get the status of the application and the first rep could not locate any of my info. Finally after searching, said it was with the fraud dept. and they would contact me.

    A few more days went by and I called again. 2nd lady could not locate any of my info. I called the following day after and the 3rd lady could not locate any of my info. They kept asking if I got an email with a confirmation number and I said no, only that my info was received and I would be contacted. Then contacted them by Facebook messenger and they said my info was located, but it would take 1-2 weeks before it was reviewed. If it takes this long just to open an account, I can only imagine how long it will take just to do an auto refinance with them. Not sure if I will even continue to try and open this account. After submitting my personal info and nobody even being able to locate it makes me suspicious of giving them any other personal info.

    Ajinkya increased rating by 2 stars.
    Customer ServicePrice
    After a positive interaction with Pentagon Federal Credit Union Auto Loans, Ajinkya increased their star rating on Sept. 3, 2021.

    Updated review: Sept. 3, 2021

    One of the supervisors (Name: Candace) was able to resolve my issue finally. I do see the additional interest now being applied to my principal balance.

    Original Review: Aug. 27, 2021

    I refinanced my car loan with Penfed in July 2019. I started making payments immediately and everything seemed fine. In January of 2020, I receive a letter from penfed that my interest rate has been increased to a higher value as they have not received the Title work. The title work fixing took a month (Dealer issue) and after 3 months my rate was moved back to the original rate. I was assured that the extra interest that I paid during that time would be applied to the principal balance. Fast-forward to Aug '21, I did a calculation of the interest paid and it turns out I have already paid $500 more interest compared to what I should have paid over the life of the loan. After calling the customer service, I get a response that they are doing the research and it is just not going anywhere. I have a feeling of money being stolen right out of my pocket. I'm so frustrated working with penfed. I hope no one has to go through this pain.

    CoveragePunctuality & Speed

    Reviewed June 9, 2021

    My HELOC application was turned down on my Primary Residence although, it was only to increase my current PENFED HELOC an additional $30k to make home improvements. I was turned down because I had a COVID Forbearance on another investment property because my tenant was evicted. The Forbearance was turned into a modification/refinance and had nothing to do with my Primary Residence or my current HELOC. My Primary, both HELOCs all paid on time, I have a 830+ credit score, $0 unsecured credit and high income and PENFED turned me down because they state they have a blanket policy. Any Forbearance regardless will disqualify you for 12 months. That's very discriminatory!!


    Reviewed April 2, 2021

    Retired military officer and disabled veteran disappointed to say the least. I had a horrible experience. I've had multiple auto loans with this company over many years and never experienced anything so absurd. I obtained an auto loan in Dec 2021 for a truck to use commercially. Initially, I purchased the truck and maintained it for personal use and USAA Insurance explained the vehicle would be covered for 30 days of my existing policy to full coverage as on my other insurance vehicle. At the end of the 30 days I was ready to insure and register for commercial use. I then obtained a commercial insurance policy. I received a letter from Penfed later in Jan 2021 telling me they needed the insurance to reflect Penfed as the lienholder. I had the insurance agent modify to reflect and sent to Penfed. They billed me $6400 and added it to my loan without prior notification in a very aggressive manner clearly to give business to a third party.

    I disputed and they agreed that I had the insurance and what they needed but wouldn't refund $800 as they said I didn't have insurance with the carrier in Dec 2020. I said, that's correct, I had insurance with USAA whom I've had for over 30 years at that time as the truck was personal conveyance during that first month. They now say I have to prove ridiculous can this get. No issues and they're billing me for a period of time that has come and gone and I had insurance. I'm wondering with the aggressive manner of this transaction so fast how many other Penfed members have had this happen to them? I've never experienced this with any other loan from Penfed nor another banking entity. The loan process was normal as with previous auto loans with the credit union. However, I've never had an issue with insurance on any loan and appears they are aggressively giving business to a third party for financial gain.

    I filed a complaint with the Consumer Financial Protection Bureau as I have concerns about the aggressive nature of these transactions and if not illegal I'd say ethically questionable especially with disabled veterans and retired military families they claim to serve with pride. I'm beyond disappointed and will not do future business with Penfed...ever.


    Reviewed Nov. 1, 2020

    I am AAA member for many years. Got AAA email saying 2.14% APR auto loan with PenFed. I was ready to buy car within a week and PenFed rate was very attractive. Good ends here!!! I was very clear upfront that I am looking to pre qualify so I can shop for my dream car with peace. I told rep I did not have VIN # and looking only to prequalify. I was told that should be fine but they must do ‘hard credit inquiry’!! I have top tier credit score and guard it with life- don’t let anyone run hard query on my credit unless I am ready to business. Soft query provides all the info lender needs for prequalification! I was told it is a must. I trust AAA so reluctantly agreed to hard pull.

    I was told I had exceptional score and absolutely no reason to get ANY amount (was looking for 60k)! Then rep checks with loan officer and says they cant do anything now and I must first purchase the car, fax them PO signed by dealership and myself. They will then approve the loan and send me a check in the mail within 7 days!!! Wow! I said, "Why would you run hard pull and impact my credit if you could not give pre qual letter?"

    Also dealer is not going to wait for 7 days for PenFed to ship the check then I deposit the check (T + 3) and issue my check to the dealership!! I was shocked to hear this and wonder how can it work for ANYONE purchasing new/used car? Maybe it is ok for refinancing existing loan! Please beware of their legacy process for purchasing new / used car in 21st century! If it works for you, go for it else don't waste time. My review is only for the process and not the polite people at PenFed.

    Customer Service

    Reviewed Aug. 2, 2020

    The whole process took me about 10 minutes. Filled out the application online in about 5 minutes, was instantly approved with a great rate. I was mailed a couple forms that needed signing, which I did and sent back. I found the car I wanted, gave them the VIN and price, they cut a check to the dealer. That was it! I never had to talk with anyone, no headaches, easy peasy. I also have my savings and checkings accounts with PenFed, and actually get interest back that is reasonably significant.

    The only knock I have on the company as a whole, which is why I'm assuming they can offer better rates than most companies, is their customer service department seems like a skeleton crew. I've always had long waits and no one seems to be an expert in the products I'm seeking assistance on. If you can avoid calling customers service, the company is a 10/10. Their customer service, however, is probably a 4/10.

    Reviewed May 18, 2020

    I have an excellent credit score. I am looking for an auto loan refinance within 2.4% APR. But upon inquiry, they gave me only 2.99% APR in contrast to what they mentioned that APR starts at 2.14. This is a huge difference and the CU did not provide a proper reason. If a person with an excellent credit score did not get 2.14 then who will get that APR? If there are certainly other reasons behind providing 2.14 APR why it did not mention that upfront while applying. This would have saved a credit check hard inquiry.

    Customer Service

    Reviewed Nov. 27, 2019

    A joke of customer service, it's tough to even talk to a live person. Their loan process is unbelievably bad, they tell me they can't access my credit but that I don't have any credit score. I have 3 mortgage loans right now and have paid off probably 7-8 car loans throughout my life.

    Customer ServiceStaff

    Reviewed July 22, 2019

    PENFED is first choice for auto and home/line of credit loans. Have gotten my last three car loans through PENFED. All three limes, I got auto loan over the phone in just under 10 minutes. Customer service rep very friendly and familiar with loan process and loan information was sent to the dealership same day.


    Reviewed July 17, 2019

    PenFed had a very good interest rate for my auto loan. I am at 3.9% interest for my loan. Compared to banks and other institutions, PenFed beat all others substantially. Avoid Santander because the interest rate they quoted me was above 14%.

    Customer ServiceStaff

    Reviewed July 11, 2019

    I've been a member of PFCU since 1983 and have never been disappointed with the great services they provide. I've never had any issues with my checking and savings account. PFCU representatives are alway eager to provide the best possible customer service possible. Recently purchased a new car and PFCU processed and completed my car loan in one day. PFCU has a great bill paying options where you can set up monthly and single payments.

    Customer Service

    Reviewed April 17, 2019

    I had an auto loan with them and moved during the term of the loan. I updated my address information with them, and since the loan was on autopay, thought everything was fine. Unfortunately that was not the case. When I paid off the loan, they sent the title to my old address, and it was returned to them. They then Emailed me stating this fact and asking for my correct address. I called them and told them I had changed my address a long time ago, and asked what address they had, and they confirmed to me my current correct address. They said they would send the title out again, and I forgot about it until about 6 weeks later when I got another Email from them saying it was returned as undeliverable. I called again and had exactly the same conversation a second time, they went ahead and deleted my address information and reentered it and sent the title out again. Yep.

    Six weeks later, I got the same Email again. I tried not to laugh too hard when I called them back a third time and told them what was happening, and this time the woman I dealt with said she knew what was happening. They have multiple independent computer systems that have no way of communicating with each other, and every time I updated my address information by phone and the Website, it only updated my general contact information with the company, not with the auto loan department. So she transferred me to the auto loan department and I updated my address information for a fourth time with them, and then got my title about a month later. Hard to believe, but their systems and procedures are apparently that old fashioned.

    Customer Service

    Reviewed Jan. 10, 2019

    I started an application online for a car loan and without my consent, the bank pulled my credit report. The bank should request for authorization before pulling the credit which significantly affects my credit. I didn't expect this from such a big bank. I contacted them over email and they were very rude in the response.

    Customer ServiceContract & TermsPrice

    Reviewed Sept. 28, 2018

    Be very careful of what PenFed calls their car buying service. I found my car and needed an auto loan. Their website says that you will get 2.24 interest rate if you use the service. I called the number on the PenFed site and spoke with a real person. Then they had me call PenFed to input my information over the phone. They filled out the application for me. They called the dealer where the car was at to get the vehicle identification number. When completed it went to a loan officer who approved the loan at the rate of 2.24. They said we now have a loan for 4 years, gave me the loan number and the rate pay every month. It was clear the rate is 2.24 and written into the loan. The loan was approved at that rate.

    So I then went to the dealer and made the purchase. That contract was done. PenFed said just come and pick you the check and give the check to the dealer and start making the payments. I then went to the branch to get the check. It is here they decided to raise the interest rate if I wanted the check to pay for the car I bought. They said they cannot give me the money at the contract rate of 2.24 but now I had to except a rate of 3.25. I said, "Hold on, what happened to the 2.24 you represented? I bought the car and the dealer wants their money." They said, "It seems one of our employees didn't check and the dealer we called and where you bought the car was not part of the car buying program." I said, "You called them for the VIN number, you of all people would know who you called." They said I am responsible to know if the dealer is part of the program.

    I said the loan check is written to this dealer. So PenFed made clear they would not honor the contract or the agreed interest rate. I said, "You understand the position I am in. I have a duty and obligation to pay the dealer and I cannot now unless I agree now to a higher rate we never agreed on." I said, "You realize you just locked this in at 2.24, I acted on that contract we had, and you now with old the check stating you are switching the rate to 3.25. Lexie speaking on behalf of PenFed says, "Yes, You can either pay the higher rate or have the CEO resolve this."

    I asked what of our contract we had prior to the purchase and she said that can no longer apply. So I have to say this is a very creative way of locking positioning someone into one price, let them buy the car, then switch to a higher rate. People really need to steer clear of PenFed car buying service. They will try and say the buy car buying service is another company but people will still answer the phone and answer at all times as PenFed car buying service. My car dealer is very nervous now about getting paid.


    Reviewed Sept. 23, 2018

    I've been a PenFed member for almost over a decade. I financed a previous car loan with them at the start and it went smoothly. Fast forward ten years and I decided to apply for a new car loan online for $30,000. I was instantly approved at 2.9% interest rate, the only condition was that I had to provide evidence of employment. So the next day I go to the local PenFed branch with my pay stub and the loan officer says everything looks good but we need the cars VIN to make things final. Still I ask him if everything's ok credit wise before I go to the dealer, to which he said that it shouldn't be an issue.

    So I go to the dealer, make a $1,000 down payment to buy the car and tell them I'm financing with PenFed and will be giving them the check the next day. When I go back to PenFed, the loan officer starts to ask for all my financial information which I found redundant because I had provided all of it online when I applied. He then fabricated some story saying that he had to meet with a loan committee and made me wait 15 minutes. He then came back saying that upon further review the “committee” decided the loan was too risky and provided a counteroffer of $25,000 at 5.8% interest rate.

    Of course I was visibly upset and felt betrayed. This loan officer waited until I made a buying commitment with the dealer to then screw me over. I would expect this type of practice from a regular bank, but not from a credit union that supposedly prides itself on being pro members. Be wary of present-day PenFed, their low initial offers and promises of approval are now just a trap. They will use every trick of the trade to screw you over. Things are not as they used to be any more at PenFed. Shame.

    Customer ServiceContract & TermsCoveragePricePunctuality & Speed

    Reviewed May 8, 2018

    Have car loan and was happy with terms until one day I log into the website and noticed my interest rate has jumped from 2.99% to 14%. So I call and ask why and it is because the DMV didn't get paid and updated with insurance soon enough. Bad enough the DMV charges me large fees for late but at least they warned me. Pentagon Federal did not send me any notice. I always had car insurance but because I did not send into DMV they use as an excuse to gouge me. Then they refuse to do anything until they hear from the DMV and they refuse to reimburse me the extra interest rate that was unjustified. Luckily I don't really need their loan and have started to make triple payments just so I cannot be their customer anymore.

    Customer ServiceStaff

    Reviewed April 25, 2018

    I am a new customer. I have had a PenFed account because I attempted a purchase of a vehicle a year so ago but the dealership could not meet my needs so I opted for a lease instead. I went to to find a HELOC rate and PenFed was the lowest (the rate increased before I had a chance to get any funds to myself). You guys are terrible and I would never recommend anyone do business with you guys. I will stick around for the 2 years to finish my obligation on this HELOC but as soon as I can refinance or close I am done with you.

    Let me list the reasons why. Rate increased before any funds were available to me. May not be your fault but the following reasons added to this. Took over 45 days to close a loan with no hang ups on my side. Uploaded everything needed. Just kept having to deal with different people. Charged me twice for Appraisal fee and could not refund it for days. Was going to send me a check for the entire amount of the HELOC… Not what we discussed. Manager called to verify my Wire transfer and left it on their desk so instead of funding that day it collected dust while they went home. Called to find out what happened. Could not get it resolved. I asked for an email to verify Wire transfer to get my project going and I receive it today… It was suppose to come on the 18th of April. It is now the 25th. Might as well have waited for regular mail. This will probably fall on deaf ears because I am a drop in the bucket but I will be leaving this review everywhere I can.

    Customer ServiceStaff

    Reviewed Nov. 9, 2017

    They are pretty awful. I refinanced my car loan through them since they had low rates. I set up an automatic transfer right away, because it didn't look like one had been set up. Apparently they have a "behind the scenes" automatic transfer, unbeknownst to me. So the first month, they withdrew my payment twice. I called, and they said it wouldn't happen again and that it was related to setting up my account. They also said because it was double-paid, I wouldn't get charged in November. Well, in November, they withdraw from my bank account again.

    I call, and they said it's because there's still both auto-transfers set up, and that there was YET ANOTHER set to withdraw on the 15th, and as of the 7th, it was too late to cancel it. They finally agreed to try to reverse two of the payments and put them in my PenFed savings account so I can transfer it out to my bank account. However, they only allow for $50/day to be transferred out. It's so absurd and ridiculous, and the fact that you have to wait 20 minutes just to speak to a representative makes me want to already move my account elsewhere.

    Customer Service

    Reviewed Aug. 14, 2017

    As a customer of more than 20 years, I watched this formerly great credit union slowly sink into customer service oblivion. And sadly, I'm not sure the folks have bothered tuning on the pumps to stem the leaks! The trouble seemed to begin a few years back when they outsourced most of PenFed's customer service functions. Now it's even worse than your typically wretched cable service provider (and they are awful!). This morning I called to correct a mistake made after I talking with them nearly 20 minutes two week ago. THE LINE WAS BUSY!! After 7 tries, a computer answering function, stating, "Your expected wait time will be 15 minutes". Imagine, I have invested more than $200K with these yayhoos, but am asked to wait 15 minutes to engage in yet another frustrating experience. THAT'S WHY I JUST JOINED NAVY FEDERAL CREDIT UNION!! I can't wait to totally shed myself from PenFed's incompetence.

    Verified purchase
    Customer Service

    Reviewed Aug. 10, 2017

    I found PenFed listed as an auto loan lender for high mileage vehicles on Google Search. I filled out the application on my cell phone for a loan and received an email with an authorization # for the loan. A little while later I received another email asking for additional income verification and a phone number to call. I called PenFed later that day and although I had to wait on the phone for 15 minutes I reached a customer service representative.

    After giving them all the financial information they got me tentatively approved for a loan at 2.74%. After 3 more 10 minute phone calls waiting for a representative they finally received the purchase order from the dealer and approved the loan. I then became a member of PenFed with a small deposit which included a $15 dollar fee to expedite the loan check. I received the check the next day by FedEx mail at 12pm. I am definitely satisfied with the way it all turned out.

    Customer Service

    Reviewed April 14, 2017

    I applied for an auto loan through PenFed. They approved me but that is where the communication ended. I applied for an auto loan through a couple of other banks and ended up going with one of them. PenFed is not where I do my primary banking so I don't log in frequently. Two months after applying I log in to check my account balances and I notice an auto loan for $25,000. PenFed had already taken $400+ out of my savings account to start repaying money I never borrowed from them.

    I called PenFed and they told me that they sent a check for $25,000 to my address (why would they do that?). Apparently sending auto loan checks (via USPS) is the protocol at PenFed. After they figured out that their phantom check was never cashed they agreed to fix it. Now PenFed has to undo everything but it will take time. The PenFed loan is on my credit report and I am in the middle of buying a house. The additional liability makes it so I don't qualify for a mortgage. I hate PenFed.

    Verified purchase

    Reviewed March 26, 2016

    I had a car loan from US Bank and thought I could save few dollars on my monthly payments by transferring the loan to Pen Fed and I wish I did not do that. Pen Fed is the worst place you can do business with, they are inefficient, arrogant and lack any knowledge of what needs to be done to close your business. I am still trying to transfer my lien and title on my car and have the stupid Pen fed name on the document. I went to the MVA in order to have the transfer but there was one lacking document to be submitted by the Pen fed in order to complete the transaction.

    After three months of trying to tell them that then they came to their senses and submitted that document and after they raised my interest on the car to 14% and still the issue has not been resolved because PEN Fed did include the fee which I already paid. Stay away from PEN FED, do not do business with them ever, they are inefficient, do not know what needs to be done, stay away as far as possible. They are no good.

    Profile pic of the author.
    Customer ServiceSales & Marketing

    Reviewed Aug. 14, 2015

    This is such a scam credit union loan dept. Advertise the lowest rates in the country almost but you will NEVER see that rate at the end of the line. Wait 30 days with very little communication from the loan officer to find out that the "underwriters" will offer you this higher rate due to BLAH BLAH BLAH. Advertised 3.74% is just a phantom to get you in the door. Not to mention the lost paperwork faxed to the first loan officer, the total lack of any communication and being switched to a "senior loan officer" that didn't do much more than the first. I wish you could choose no stars. I've been a member of PFCU for almost 30 years with upwards of 5 car loans and one home mortgage. All, up to this point, were great...but things have really changed here. NEVER AGAIN will I look to them for any loan...and will be at a new bank/credit union within 30 days.

    Customer ServicePriceStaff

    Reviewed Aug. 8, 2015

    My wife applied for a car loan. She was told "congratulations, you have been approved for the loan" at a certain rate. They told us that we can call them when we decide what car we were going to purchase and we did in 3 different occasions. Nothing was mentioned about anything other than when we decided to purchase to let them know and they will cut the check. After 4 different cars and 4 different people we decided on a car.

    We called to give all the information they needed and I was told that we were not approved for the new amount even though it was 4,000 less that the approval we have gotten earlier. The person that first gave us the quote forgot to tell us that the first loan was not approved, that it was on pending status because of vehicle age and miles and that the second vehicle that was the same make model year and everything else was the same but cheaper. The kicker is since we knew we were told that we were approved the first time for a bigger amount we put 500.00 non-refundable downpayment that we can't get back on the second vehicle because of Misinformation from pentagon. The only thing they say is that they are sorry for the other people mistakes.

    This has been the most underhanded, misleading, fraudulent experience that I have ever had. Telling someone that they are approved for a loan (they forgot to tell us that it was "conditionally approved") and not tell them the conditions of the loan in my book is consider fraud. Stay away from this so called military financial friendly institution. My wife and I are veterans and we deserve to be treated better by a place we thought we can trust. Be aware that when they tell you that you are approved. You might not be.

    Verified purchase

    Reviewed July 4, 2015

    I want to offer a word of caution to anyone contemplating taking out a loan with Pen Federal - DON'T. I have found this company highly unethical in their business practices with a total lack of care for their customers or their credit ratings. Three years ago in June, I took out an auto loan and had it set up on an automatic draft. Everything was fine until I received a past due notice on July 4. Not quite sure how I can be past due when it is on auto draft. In the paperwork it was noted the final payment would be less. What they didn't say was the last payment had to be made in a fashion other than auto draft. It seems that their systems aren't set up to handle final payments that are less than the recurring amount. I think I would be looking into replacing everyone in the IT department.

    I dare say most folks have the same situation and get caught on the final payment if they are on auto draft. I did get them to remove the past due amount and interest, although they told me they were doing me a favor in doing so. I have also asked for a letter confirming they had written the credit agencies telling them I was not late in payment. They have assured me they will but I know they wont. What they fail to realize is I am not one to roll over and play dead. I will be their worst nightmare.

    Customer ServicePunctuality & SpeedStaff

    Reviewed Dec. 28, 2013

    Last week my car's engine started acting up... took it in and I need a new engine. So I decided to trade in my vehicle and buy a new used car. That night I applied for a loan of $19,500. Was approved a few days later. Meanwhile I'm looking for a vehicle and driving a rental. I realize I may need more than what I asked for, so I called them up and asked if I needed to reapply... "As long as it's not, like, twice as much you'll be fine. All you have to do is call us and we'll send out the check." So after I turn in my rental, and limp my car into Carmax, I start the process of buying the car I was targeting. $25k. Call up PenFed... "We're going to have to reapprove the loan." "Really??? that's not what the last lady said." "Well, its just too much. And there's not a loan officer here to do it, so you'll have to wait 'til tomorrow (Sunday. )" "Well, this is REALLY important. They can give me a temp loan, but I NEED this done asap. I only have 3 business days." "No problem. I'll make sure this is high priority. As soon as someone can process the loan, we'll have it out the door."

    Now, this is Christmas week... Carmax is closed Sunday, Tuesday and Wednesday... that gives me until Friday to receive the check and conduct the transaction. Penfed is open Sunday, Monday, Tuesday, Thursday, and Friday. 2 extra days to conduct the transaction. Feeling confident in PenFed after the conversation I had with their employee... I didn't call until Tuesday afternoon (EST). BAD MISTAKE. I was a bit surprised they hadn't processed the loan. The man on the phone processed my loan while I waited and assured me that it would be in my mailbox on Thursday, given that Christmas was on Wed. It's being sent overnight.

    Go to work Thursday, come home... not in mailbox. Call them, it apparently didn't get submitted to UPS in time. I called them at 11 am PST, cut off time to submit overnight packages to UPS is 3:30 pm PST. She then talks to her boss, and notifies me that it missed Thursday's UPS cut off time as well!! So it's being sent out Friday, and I'll receive it first thing Monday morning. 9 days. It took them 9 FREAKING DAYS to get me something I NEEDED ASAP... and 3 days too late. WORST BANKING EXPERIENCE EVER!!!

    Customer ServiceStaff

    Reviewed Sept. 14, 2013

    We were drawn to this credit union because they had good rates on automobile loans. After having a couple questions, I called them. They are not happy to hear from anybody. They want all the stuff done online with little to no help from them. So our first call about our automobile loan left us upset with the person's attitude. But we thought we tried again with a home loan.

    Obviously, you're going to have tons of questions either before or after filling out your application. We got locked out of one part of the application so my wife who is the sweetest person on the earth called and told me that the lady was rude. That's amazing because she never says that about anybody. So I decided to call and I could not believe how unbelievably arrogant, rude and condescending this lady was. These people do not care about their members. I will be closing all three of my accounts there and will never do business with them again.

    Customer ServicePricePunctuality & SpeedProcess

    Reviewed July 1, 2013

    I applied for an Auto refinancing and the process was smooth at the start. They told me that they would send over the check for the finance amount. I waited for one month and didn't receive one. I called them and they cancelled the original one and sent the second one. Same story, I didn't receive it even after a month. This time, they sent the check through UPS and so after about two and a half months after approval, I sent the check to the lien holder. But that was not the end of the story. The car lien holder called me telling that the check was not a valid one. When I talked to PenFed again, they told me that they would send over a new check again. They did and I sent it over to the original lien holder. This was good this time.

    The original lien holder released the title and sent it to PenFed which was misplaced by them (they say that they never received it but the original lien holder insists that they sent it) and I was bombarded with mails telling me that would increase my interest rate to the max if they didn't receive the title within 150 days of loan approval. It is a pure case of mismanagement and ineptness with which they handle these kinds of things. Now I need to apply for my duplicate title. This has to be one of the most irritating experiences ever.

    Customer ServicePunctuality & SpeedStaffProcess

    Reviewed April 22, 2013

    With all the negative PenFed reviews, I felt obliged to post here because I almost did NOT apply or go with PenFed for my auto refinance due to what I read here. I have to say the PenFed auto loan was the easiest, most trouble-free loan I have ever done with an unbeatable rate. I applied for two other companies and ended up going with PenFed for the best rate and service. Here's what happened and some history:

    Credit score 740, mortgage, car loan and no credit card balances.

    I joined PenFed on a Monday morning, paid the $15 fee to one of the organizations and $5 to fund account, and applied for the 1.74% auto refinance. Automatically conditionally approved. All I had to do was send the 10-day payoff letter from the current lender. Emailed the document that same day. Did not hear from anyone or receive status emails outside of the normal thanks for applying, which could concern some people. However, logging in online, I monitored the status of my loan. I called for information on Wednesday and thought the service was great - no wait time, friendly service, was explained all was well and my application was currently being looked at by a loan officer, and to call back later for an additional update if needed.

    I called back Thursday. They said the loan was complete and was advised of next steps. I would be sent a promissory note and a check to send to current lender. Online, my status noted "transferred" and I saw the balance in my online account with option to start paying. I received packet in the mail on Friday with all instructions and the check. Now here, you do have to do some additional work and be careful to read all instructions. You have to mail the check to your current lender, fill out a few forms, obtain insurance verification and make sure the current company transfers and sends the title to PenFed.

    I would rather take care of this myself than pay another organization (Blue Harbor wanted a $299 app fee and $150 title transfer fee. What a rip) to do it. Got everything filled out and mailed out Saturday. Quick and painless process. I received an awesome rate with no fees (even my current bank wanted an origination fee). Would highly recommend.

    Customer ServiceStaff

    Reviewed Feb. 15, 2013

    I placed an application on 02/12/13 for a vehicle loan refinance and had to get my spouse to sign a notarized form to be a co-maker. I was told when I first submitted the application that no credit would be run until they received the notarized document back. After running around to get it signed, I waited 48 hours for them to tell me I was declined. I found out that they submitted the application only in my name and then took it upon themselves to resubmit a joint application, which was the original request today on 02/14/13, which is pending again now for 48 hours, which is worse is that I am a loan officer for another credit union and could not understand their reasons for denial.

    This is a very sloppy credit union, which has very unprofessional staff. When I tried to get an explanation, the first rep hung up on me and the second one told me I needed to understand that they are a very conservative credit union. As I tried to speak with him, he interrupted me multiple times and kept repeatedly trying to get me off the phone by saying, "Anything else I could help you with?" If you really want a good credit union, try Randolph Brooks FCU (1.9% on vehicle loans). At least they work with members and they don't lie to you when you're submitting applications nor do you have to pay to become a member, because they have more ways to qualify for membership.

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    Pentagon Federal Credit Union Auto Loans Company Information

    Company Name:
    Pentagon Federal Credit Union Auto Loans