Auto Loans for ED
04-12-2017, 11:47 AM
#11
I was approved for the stated 60-month rate of 2.49%, which I believe is generally good through the end of the month unless something big happens with the fed. Since I'm financing <$50,000 of my purchase, they sent a blank check to be filled in upon signing. That check is good for 90 days, so if I were to sit on it for 30+ days before signing, the rate could change.
04-17-2017, 07:04 AM
#14
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I am financing an ED purchase through Penfed RIGHT NOW. Was approved last Friday 4/7, and received the loan docs this past Monday, 4/10. The fine print of the loan agreement notes that the Title needs to be received by Penfed within 150 days of the loan being disbursed.
Just got off the phone with a Penfed member representative not more than 1 hour ago. I clarified and disclosed that this purchase was a European Delivery and the title will not be received until sometime after disburse of funds, but more than likely within the 150 days (5 months). They made note of ED delivery in my loan file and said you'll receive sort of nasty letters at 60 days, 90 days, and 120 days which are standard automated Penfed mailings. Call after the 2nd nasty letter if title not yet received to be safe, clarify situation and current status, and they will grant an extension on my file to be safe.
Quick and easy process so far!
Just got off the phone with a Penfed member representative not more than 1 hour ago. I clarified and disclosed that this purchase was a European Delivery and the title will not be received until sometime after disburse of funds, but more than likely within the 150 days (5 months). They made note of ED delivery in my loan file and said you'll receive sort of nasty letters at 60 days, 90 days, and 120 days which are standard automated Penfed mailings. Call after the 2nd nasty letter if title not yet received to be safe, clarify situation and current status, and they will grant an extension on my file to be safe.
Quick and easy process so far!
04-29-2017, 09:19 AM
#15
AudiWorld Senior Member
I am financing an ED purchase through Penfed RIGHT NOW. Was approved last Friday 4/7, and received the loan docs this past Monday, 4/10. The fine print of the loan agreement notes that the Title needs to be received by Penfed within 150 days of the loan being disbursed.
Just got off the phone with a Penfed member representative not more than 1 hour ago. I clarified and disclosed that this purchase was a European Delivery and the title will not be received until sometime after disburse of funds, but more than likely within the 150 days (5 months). They made note of ED delivery in my loan file and said you'll receive sort of nasty letters at 60 days, 90 days, and 120 days which are standard automated Penfed mailings. Call after the 2nd nasty letter if title not yet received to be safe, clarify situation and current status, and they will grant an extension on my file to be safe.
Quick and easy process so far!
Just got off the phone with a Penfed member representative not more than 1 hour ago. I clarified and disclosed that this purchase was a European Delivery and the title will not be received until sometime after disburse of funds, but more than likely within the 150 days (5 months). They made note of ED delivery in my loan file and said you'll receive sort of nasty letters at 60 days, 90 days, and 120 days which are standard automated Penfed mailings. Call after the 2nd nasty letter if title not yet received to be safe, clarify situation and current status, and they will grant an extension on my file to be safe.
Quick and easy process so far!
My Audi was six months from ordering the car to delivery to my dealer with European pickup in the middle. Great experience! Felt just a bit guilty pushing a brand new car to 115 mph on the autobahn, but it's within the break-in rev limit!
Last edited by lowjdml; 04-29-2017 at 09:29 AM. Reason: More info
04-30-2017, 06:26 PM
#16
Audi says to allow 10 to 12 weeks from drop off in Europe to dealer delivery. Depending on how long you're staying in Europe, you can burn thru the 150 days quickly. One thing you can do is pay for the car just before you leave for Europe.
My Audi was six months from ordering the car to delivery to my dealer with European pickup in the middle. Great experience! Felt just a bit guilty pushing a brand new car to 115 mph on the autobahn, but it's within the break-in rev limit!
My Audi was six months from ordering the car to delivery to my dealer with European pickup in the middle. Great experience! Felt just a bit guilty pushing a brand new car to 115 mph on the autobahn, but it's within the break-in rev limit!
Ultimately for me, my dealer's business team was able to produce a superior finance offer. So I financed through the dealer. The leverage alone from Penfed's offer was worth it.
04-30-2017, 06:52 PM
#17
AudiWorld Senior Member
Congrats! Have a great trip.
I picked up my Audi in mid-December and only drove it in Germany for a few days. But I managed to visit all four auto museums plus the Audi and Porsche factory tours.
I picked up my Audi in mid-December and only drove it in Germany for a few days. But I managed to visit all four auto museums plus the Audi and Porsche factory tours.
05-31-2017, 10:18 PM
#18
I had arranged for a loan through my credit union in advance, discussing in detail the ED process. At closing, they decided they needed the title right then and refused the loan. I had to use Audi FS
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