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Who got a Penfed loan

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

  1. Skidkid

    Skidkid F1 Veteran
    Rossa Subscribed Owner

    Aug 25, 2005
    6,228
    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
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    Sep 18, 2016
    712
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    Dale
    Skip Penfed. Use Lightstream.
     
  3. GrigioGuy

    GrigioGuy Splenda Daddy
    Global Moderator Owner

    Nov 26, 2001
    24,065
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    Dindu Nuffin
    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
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    Oct 31, 2014
    609
    Houston, TX
  5. Natkingcolebasket69

    Natkingcolebasket69 F1 Veteran
    Rossa Subscribed

    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
     
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  6. 19633500GT

    19633500GT F1 Veteran
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    Nov 9, 2010
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    American
    Lightstream goes unsecured though with excellent credit. That's a great piece of financing offered.
     
  7. vrsurgeon

    vrsurgeon F1 World Champ
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    Dec 13, 2009
    13,512
    Charleston, SC
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    Curt
    I did Penfed when I got mine. Great experience! PM me anytime or chat anytime....
     
  8. Dave rocks

    Dave rocks F1 World Champ
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    Nov 23, 2012
    15,969
    Orchard Park, NY
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    Dave Lelonek
    Hi John - call me tomorrow or Sunday. I've done 3. Totally painless.
     
  9. Zcobra1

    Zcobra1 Formula 3
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    Oct 9, 2012
    1,203
    So Cal
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    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
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    Jan 1, 2008
    690
    Hilton Head Is., SC
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    Craig
  11. curtisc63

    curtisc63 Formula 3
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    Dec 13, 2005
    2,251
    Maryland
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    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
    3,272
    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
     
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  13. Skidkid

    Skidkid F1 Veteran
    Rossa Subscribed Owner

    Aug 25, 2005
    6,228
    Campbell, CA
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    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
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    Jun 9, 2004
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    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
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    Oct 9, 2012
    1,203
    So Cal
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    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
    12,836
    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
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    Nov 23, 2012
    15,969
    Orchard Park, NY
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    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
    4,325
    Taxing Jersey
    Who is JJ? I vote for PenFed. Dont know if others are as easy ?
     

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