ALEXANDRIA, Va., April 25, 2012 /PRNewswire/ -- Pentagon Federal Credit Union (PenFed) announced today that for a limited-time only, when a PenFed member purchases their new or used car through PenFed's Car Buying Service or Enterprise Car Sales, and then finances it with the credit union, they will receive a 1.49% APR promotional rate on their auto financing. This promotional rate is available as an online rate only for financing terms between 12-60 months.

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"I cannot think of a better winning combination for PenFed members who are shopping around for a new or used car," said Steve Troxel, Marketing Director, PenFed. "Not only do our members get to enjoy our lowest rate available to date, but they also get to shop conveniently online knowing that they are negotiating their car purchase with a trusted source."

The Enterprise Car Sales service provides "Haggle-free" used car pricing to their clients. The 1.49% APR promotional rate that PenFed members receive with this service is an exclusive offer. This service is available for free to all new and existing PenFed members by visiting enterprisecarsales.com/PenFed.

The PenFed Car Buying Service is a good fit for those who are shopping for a new or used car, and who are looking for a hassle-free "one-stop shop" experience. This program allows clients to access a comprehensive site where they can research new and used vehicles; get safety information, see photos and videos of vehicles, read reviews, and receive negotiated price quotes on vehicles from dealers in their area. The service is free to all new and existing PenFed members, and can be accessed by visiting PenFed.zag.com. 

For more information about PenFed and to apply for a great rate auto loan, visit PenFed.org or call 800-247-5626.

About Pentagon Federal Credit Union

Pentagon Federal Credit Union (PenFed) is the second largest federal credit union, and the third largest of all credit unions, in the United States with over a million members, and more than $15 billion in assets. The credit union provides worldwide service to the Department of Defense, Army, Marine Corps, Navy, Air Force, Coast Guard, Department of Homeland Security personnel, employees or volunteers of the American Red Cross and military associations, and many others in the defense community and their families. This credit union is federally insured by the National Credit Union Administration.

• *Internet only special rate. Higher rate will be assessed if you do not apply online.1.49% APR applies to new and used vehicles for loan amounts up to $70,000 financed for 12-60 months. Up to 100% financing is available to qualified members. Promotional rate is not available to refinance existing PenFed auto loans. Used Cars: Maximum used car loan advance is NADA "Retail Value" or 80% of the purchase price where NADA "Retail Value" is not available. Amount financed determines loan term. Further restrictions apply on vehicles with 100,000 miles or more. Up to 100% financing is available to qualified members. Call 800-247-5626 for details. Rate and term are based upon loan amount and model year and are subject to change. Other conditions apply.
  Enterprise Car Sales: Rate and offer valid October 15, 2011–May 31, 2012, in the 48 contiguous states (not available in Alaska and Hawaii) and are subject to change. This is a buy down rate. The amount of the buy down will not affect the price of the vehicle. Used vehicles previously part of Enterprise short-term rental and lease fleet or purchased by Enterprise from other sources including auto auctions, with previous use possibly short-term rental, lease or other.
  PenFed Car Buying Service: Average potential savings off of MSRP of PenFed user-configured new vehicles from 10/2011 – 12/2011. Your actual savings may vary based on multiple factors including the vehicle you select, region, dealer, and applicable manufacturer incentives.
  Loan Payment Example: $20,000 at 1.49% APR; 60 monthly payments of approximately $346.11 each. Rate is current as of April 2012, unless otherwise noted, and is subject to change.

SOURCE Pentagon Federal Credit Union