Who got a Penfed loan | FerrariChat

Who got a Penfed loan

Discussion in '360/430' started by Skidkid, Aug 10, 2018.

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  1. Skidkid

    Skidkid F1 Veteran
    Owner Rossa Subscribed

    Aug 25, 2005
    8,682
    Campbell, CA
    Full Name:
    John Zornes
    Anyone out there who has dealt with Penfed for an auto loan willing to have a short call with me? I have a few questions about your process. You can drop me a PM so we can connect.
     
  2. BlacktopRacing

    BlacktopRacing Formula Junior

    Sep 18, 2016
    912
    Pittsburgh
    Full Name:
    Dale
    Skip Penfed. Use Lightstream.
     
  3. GrigioGuy

    GrigioGuy Splenda Daddy
    Lifetime Rossa Owner

    Nov 26, 2001
    29,386
    E ' ' '/ F
    Full Name:
    Trailer Swift
    I have a PenFed loan on a much cheaper Italian car. Completely painless process and good rates.
     
    Natkingcolebasket69 likes this.
  4. timwu12

    timwu12 Formula Junior
    Silver Subscribed

    Oct 31, 2014
    919
    TX
  5. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    Penfed is the best:0 down and best rates in the building. Painfree process...lightstream isnt that good compared to penfed, heck even JJ is better than lightstream.


    Sent from my iPhone using Tapatalk
     
    JJ likes this.
  6. 19633500GT

    19633500GT F1 World Champ
    Rossa Subscribed

    Nov 9, 2010
    11,926
    Blueberry
    Full Name:
    Muffin-Tops
    Lightstream goes unsecured though with excellent credit. That's a great piece of financing offered.
     
  7. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    15,872
    Charleston, SC
    Full Name:
    Curt
    I did Penfed when I got mine. Great experience! PM me anytime or chat anytime....
     
  8. Dave rocks

    Dave rocks F1 World Champ
    BANNED

    Nov 23, 2012
    16,047
    Orchard Park, NY
    Full Name:
    Dave Lelonek
    Hi John - call me tomorrow or Sunday. I've done 3. Totally painless.
     
  9. Zcobra1

    Zcobra1 Formula 3

    Oct 9, 2012
    1,247
    So Cal
    Full Name:
    Bert
    Used both Pen Fed, payment saver and regular loan, and also Lightstream....lightstream rates have always been good for me and as someone else noted, unsecured and listed as a car loan, not personal loan...
    Gives a lot of leeway if you are buying and selling soon, and say not registering/ titling to flip or other reasons....
     
  10. cfensty

    cfensty Formula Junior
    Silver Subscribed

    Jan 1, 2008
    977
    South Carolina
  11. curtisc63

    curtisc63 Formula 3
    Owner

    Dec 13, 2005
    2,289
    Maryland
    Full Name:
    Curtis Campbell
    Did three different cars with Penfed. No issues. Great rates at the time. Very easy to work with.
     
  12. SCKOMS

    SCKOMS F1 Rookie
    Silver Subscribed

    Oct 21, 2011
    3,843
    Lake County, IL
    Full Name:
    Spiro
    Just sent my last payment to PenFed this month. Had financed 3 other cars with them. Rates at the time from 1.49 to 1.99. No problems

    Sent from my Galaxy
     
    Natkingcolebasket69 likes this.
  13. Skidkid

    Skidkid F1 Veteran
    Owner Rossa Subscribed

    Aug 25, 2005
    8,682
    Campbell, CA
    Full Name:
    John Zornes
    Thanks everyone. I appreciate the feedback. We had a few bumps selling my 360 but I think it is sorted now.


    Sent from my iPhone using FerrariChat.com mobile app
     
  14. RossoCorsaItaly

    RossoCorsaItaly F1 Rookie
    Rossa Subscribed

    Jun 9, 2004
    4,540
    LA | Austin |Miami
    Full Name:
    Kevin
    not registering / titling to flip is illegal in most cases unless you have a dealer's license. some states are really strict about curbstoning or evading auto taxes.
     
  15. Zcobra1

    Zcobra1 Formula 3

    Oct 9, 2012
    1,247
    So Cal
    Full Name:
    Bert
    Incorrect, if you do not operate the vehicle on the public roads, say in the case it is at a restoration garage and is moved around by trailer, or you can get a one day permit (in Cal.) and LEGALLY operate it for that day, no taxes, no registration fees.
    This can be used to show a car to a buyer. You can buy as many one day permits as you like....completely legal.

    Let's say I buy a vehicle I intend to fix up and sell, and likely sell it out of State (CAL.) only a fool would pay registration and taxes in CAL. I have seen cars for sale that are years old, never registered, being sold on a MSO and bill of sale..

    You only need a dealers license if you flip/ sell a high amount of cars or engage in as a business, if you buy a car and do a flip, unless you have sold many, many, other cars in that year, no dealers license required.
    Lastly, if you did sell many cars without driving on public roads, did not register them/ pay sales tax, and sold many/most out of State, non issue as they do not fall under the DMV rules, that is being a wise business person.
     
  16. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    14,244
    It depends on the state, but since you mention California your "moved around by a trailer" statement may actually be against their law. They don't allow unregistered vehicles to be towed on public roads unless in dealer inventory or held for lien by a towing company, and a few other exceptions. PNOs: https://www.dmv.ca.gov/portal/dmv/detail/pubs/brochures/fast_facts/ffvr01

    Also, some states require proof of ownership of the car which would require titling. And as far as I know in FL, you register your car at the same time of titling. The only exceptions I've seen are cars sold originally with bill of sale only (actual race cars).
     
  17. Dave rocks

    Dave rocks F1 World Champ
    BANNED

    Nov 23, 2012
    16,047
    Orchard Park, NY
    Full Name:
    Dave Lelonek
    Title jumping is the term and I believe it's always illegal. If you buy a car, ownership is transfered via title, not the sheet of paper from the seller, the new title in your name.
     
  18. DonJuan348

    DonJuan348 F1 Rookie
    Owner

    Aug 5, 2008
    4,441
    Taxing Jersey
    Who is JJ? I vote for PenFed. Dont know if others are as easy ?
     

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