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Old 04-12-2017, 11:47 AM
  #11
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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.
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Old 04-12-2017, 11:51 AM
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On the day of signing, I will most likely call to confirm if check cashed in next day or two the stated rate will stand.
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Old 04-12-2017, 01:38 PM
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Great, thanks - and the rate looks decent too.
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Old 04-17-2017, 07:04 AM
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Originally Posted by raceboy18 View Post
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!
Thanks for the update. It is good to know that I could use them if I decide to go down that path.
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Old 04-29-2017, 09:19 AM
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Originally Posted by raceboy18 View Post
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!
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!

Last edited by lowjdml; 04-29-2017 at 09:29 AM. Reason: More info
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Old 04-30-2017, 06:26 PM
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Originally Posted by lowjdml View Post
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!
Great point - especially if one decides to stay in Europe for up to 90 days. To expand on my earlier conversations with Penfed, they explained that they are willing and able to extend the deadline for delivery of title past the 150 days. As long as there is a reasonable explanation for why the title cannot yet be produced (i.e. ED), they seemed pretty lax about these requirements. My file was marked as a European Delivery and the representative seemed quite familiar with the nuances.

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.
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Old 04-30-2017, 06:52 PM
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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.
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Old 05-31-2017, 10:18 PM
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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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