PenFed Benefits - Up to $2000 AUDI MB FCA JEEP (usually $500 towards leases)

OK so most of us know Mercedes Benz fleet can be achieved by being a PenFed member (after 30 (EDIT 60) day enrollment period for eligibility), but recently they have expanded on that to include FCA (Jeep, Chrysler, etc…) and BMW, Volvo. Just used it for $500 incentive for a 2020 740xi lease and many times in the past for $500 for MB. In many cases they do stack but read the fine print and don’t bully the dealers, many of them don’t know how they work. Membership is free if you qualify for Penfed, I love them as a credit union, and they even have discounts for Sprint and other things.

Update 6/1/2022: Volvo and BMW no longer offered. Jeep is for purchase only.



does this mean you have finance through PenFed and not BMWFS? Is this an additional incentive or financing through them would remove bmw incentives?

edit: nvm just saw your 7 series deal. I guess it’s an additional incentive. Congrats on the deal

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Is it 30day membership required or 90 day? Someone else told me 90 day.

Finance through BMWFS. Thanks

I believe 30 days, can someone else verify?

Edit: now it is 60 days.

I use to have PenFed…They were the worst to deal with and I dropped them like a hot rock. I tried to buy 3 cars from them at 3 different points in my life. Not once would they approve me for the full amount of the vehicle I wanted. I’ve always had top tier credit, low debt and they never gave me any explanation. The last time I tried to use them…about 10 years ago. They made me jump through hoops with an insane amount of paperwork…and then they kept losing it. Then, they once again would not approve me for the full amount.

I went on USAA…applied for the loan and was approved in 5 minutes with a better rate. I told PenFed to jump off a cliff after that and closed my account.

That’s a good experience point. I have never dealt with them for loans that needed paperwork, everything was auto approved using their system, but if it can’t be auto-approved I know people have complained about the back and forth. With that said, why not keep them for the 3rd party benefits and never use them for lending.


That’s interesting it stacks with loyalty unlike the regular fleet program.
Is the fine print $2000 for purchase and $500 for lease on the 7 series?


Anyone know if the code is transferable to another person?

This incentive offer is available to PenFed members. BMW requires presentation of a photo ID, your BMW Manufacturer Certificate with a unique Customer ID and Offer Code. Visit the PenFed Car Buying Service to receive BMW Certificate. One incentive per member, per offer code, per calendar year for new BMW vehicles. Eligible member must be the purchaser.


$500 for lease on all vehicles, except i3 not eligible for lease incentive.

FYI the FCA offers are typically not applicable on leases, but check the fine print.


I used PenFed for a new car auto loan in 2013 and had a pretty good experience. I took out the loan for 100% of the purchase price including TTL. Maybe this is one of those YMMV situations.

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Yeah who knows. But they lost me as a customer after their games.

FYI. One of those cars was a prelude :slight_smile:


Thank you, Senwia!

My stepfather is in the market for a new BMW and he qualifies for Penfed. I did not know about this previously!!

Thank you!

Were you able to stack it with OL?

I was but YMMV until we get more data points.

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Fellow Prelude fan! You have earned my respect. :slight_smile:


Thanks for sharing this information! Do you know if the PenFed discount stacks with the post-sale CCA rebate?

Yes it does if you qualify for both. Ones a Cap Cost Reduction (CCR, the other as you said a post sale rebate.