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Discussion Starter · #1 ·
I have a few questions about my Pentagon Federal Credit Union account I was hoping someone with experience could answer.

1) When signing up it asked me for my "grade" or job area and I couldn't find anything in the list for sales or engineering (I am a sales engineer). The closest thing I could find was "Professional Service Provider" but I wondered if that could be an issue?

2) When applying for a new car loan will they mail you a check or arrange the financing directly with the dealer? How long does it take to receive the check? I began filling out the application and before I got to the last page, it had already calculated a set date for the "first payment due". I don't want to apply too early and begin paying interest on the loan if I don't have the car yet.

Thanks for any help you guys can provide.
 

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ccaats,

If its anything like the Navy Federal Credit Union, they will be mailing you a check. On the check it will require a bunch of information about the vehicle such as make, model and VIN number etc. You will fill it out and sign it and the dealer will deposit it just like a normal check. Your loan should not start until after the check has posted. In the case of the NFCU, the check you get is valid for 60 days and will state what the maximum amount that is allowed. I just used one of these from the NFCU tonight at a dealer and it was the first time they had seen anything like this.
 

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ccaats said:
I have a few questions about my Pentagon Federal Credit Union account I was hoping someone with experience could answer.

1) When signing up it asked me for my "grade" or job area and I couldn't find anything in the list for sales or engineering (I am a sales engineer). The closest thing I could find was "Professional Service Provider" but I wondered if that could be an issue?

2) When applying for a new car loan will they mail you a check or arrange the financing directly with the dealer? How long does it take to receive the check? I began filling out the application and before I got to the last page, it had already calculated a set date for the "first payment due". I don't want to apply too early and begin paying interest on the loan if I don't have the car yet.

Thanks for any help you guys can provide.
Ok ccaats,the Pentagon Fed CU works similar to what Boddman was saying but slightly different. Give me a number thrumy Private Message or e-mail me(check my profile) and I will call you and explain everything now or I can call you tomorrow. I'll be on line about another half hr. tonight.
 

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My Enclave isn't scheduled to arrive until late November. Is there a time limit on how long you can keep the check until it is void? I would like to lock into the 5.29 rate now but don't want to have to pre-pay until the vehicle has arrived.
 

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00Buck said:
My Enclave isn't scheduled to arrive until late November. Is there a time limit on how long you can keep the check until it is void? I would like to lock into the 5.29 rate now but don't want to have to pre-pay until the vehicle has arrived.
I used Navy federal credit union. As I recalled the check was good for 60 days. I got 5.00 for 48 months I believe that rate is good for up to 60 months . Of course the big variable is credit history/score. I filled out my application online and picked up the check at the local branch.
 

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Discussion Starter · #6 ·
I will have to go back and look, but I believe the check was good for either 45 days or 60 days. The "first due date" was 12/05 for me and I took out the loan on 10/13. It seems that the first due date is based on when you take out the loan not when you cash the check. Just call the customer help line for PenFed.....they are VERY helpful.
 

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I e-mailed the CU and asked about how long I can hold the check. They said I have up to 90 days before it is no longer valid. My Enclave should hopefully arrive before that.... ::)
 

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00Buck said:
I e-mailed the CU and asked about how long I can hold the check. They said I have up to 90 days before it is no longer valid. My Enclave should hopefully arrive before that.... ::)
Why don't you just wait until the Enclave is in Transient ? The CU Rates are pretty stable and I seriously doubt the Rates would change before your Car arrives. They approved me on the Phone and when I picked up my Car, I wrote a Check to the Dealer to hold, then when the CU Check arrived, the Dealer gave me my Check back. The CU Check was here in less than a week. They will also send it Overnite but you will have to pay the FedX Charges. Good luck.
 

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We are in proud possession of a check from Pent Fed. We've had it for about a week and our Enclave should be here in 2 or so.

What a great company.

If it gets beyond 90 days you simply call them up and they will extend it for another 30 without doing any additional paperwork.

So don't worry, you have plenty of time.

Unless of course they order the wrong car, which happened to me originally.

This has been quite a wait for me since I first ordered early in August.

Someday it shall arrive...
 

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Wondering...what's been the typical from apply time to getting a check? I know they can Fedex, etc., but if say all was done today...might you have check in hand by tomorrow?
 

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Discussion Starter · #11 ·
I applied on line on a Saturday, called the 800 number to verify if I could get the check FED EXd and they sent it out Saturday before noon. It arrived Monday.
 

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Good to know...
 
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We used Pen Fed to buy our Acadia as well. Since we didn't special order one, we didn't have to worry about how long we could hold it once we got it. Sounds like you got your questions answered and everything taken care of, but I believe this is the exact same rate we got for ours back in February. So yeah, rates aren't moving very much right now.
 

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admin said:
We used Pen Fed to buy our Acadia as well. Since we didn't special order one, we didn't have to worry about how long we could hold it once we got it. Sounds like you got your questions answered and everything taken care of, but I believe this is the exact same rate we got for ours back in February. So yeah, rates aren't moving very much right now.
True. The Pen Fed rate hasn't changed for, well, ever, since I've known them. Maybe a tenth here or there, but nothing worthwhile.
 
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