Through a new campaign that kicks off today, members of Pentagon Federal Credit Union will receive a 0% annual percentage rate when they purchase their used car through Enterprise Car Sales.
After purchasing the car through Enterprise and refinancing with the $15 billion PenFed, members will receive a 0% APR promotional rate on their auto financing for 48 months.
The rate applies to used vehicles for loan amounts up to $70,000 financed for 12 to 48 months. Up to 100% financing is available to qualified members. The promotional rate is not available to refinance existing PenFed auto loans.
The service is available for free, exclusively, to all new and existing PenFed members by visiting enterprisecarsales.com/PenFed.
The campaign will run throughout August.
Members will also use Enterprise's trademark no-haggle used car pricing, as well as the company's guaranteed seven-day or 1,000 mile repurchase policy, according to PenFed.
Enterprise has more than 130 locations across the nation making it convenient for members to be able to shop for cars, said Frank Pollack, president/CEO at PenFed.
The Alexandria, Va.-based credit union has a co-branded website with Enterprise for members to shop for used cars, estimate monthly payments for specific vehicles based on specific terms and conditions and apply for a loan online.
As a result of partnering with credit unions during the past 30 years, Enterprise said it has helped generate almost $10 billion in loan volume for more than a thousand credit unions nationwide.
PenFed serves more than 1.1 million members.
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