PenFed payment Saver

Does anyone know how the RV is calculated in the PenFed Payment Saver program?

Might have to call them and ask. They used to have a payment calculator on the site where you could either enter a VIN or select make and model and it would show estimated payments, but it looks like they took it down.

@RVguy is the expert.

There website says it’s an estimation based on their data & the mileage cannot exceed 15k a year.

So i don’t think there a specific method, but if you had to guesstimate it will be around the RV = to the 36/15k vehicle & changes based on the term you pick.

The vehicle mileage may not exceed 15,000 miles per year based on the model year.

Used car loan value based on NADA Retail Value. Other restrictions may apply. Call 1-800-247-5626 for details.

This is from a different credit union, but it looks like all of the ones that offer payment saver loans use Auto Financial Group to calculate their payments. AFG Calculator

Maybe you can reverse engineer a good guess on the RV by figuring out total cost of payments compared to MSRP.


I think Brad is right. A lot of credit unions buy residuals from AFG. When more credit unions were leasing, they were also buying residual insurance from AFG.

I just emailed Penfed to ask for more info on how they figure the RV. I had forgotten about these loans, so I might go this route myself right now.

Their MSRP for cars when doing payment saver are ridiculously off and by off I mean lower. I pulled one up for a Maserati Ghibli and it showed an MSRP of $48K and the car was a $91K sticker…

It also has been off for many other makes too and that makes the payment way higher than it should. I have found cars with a 72 month term lower. I love pen fed don’t get me wrong and have used the payment saver 7+ times, but it was so much better years ago.

For instance in 2014 I took out one for a loaded 781 Porsche Boxster S, fully loaded car. 72 month finance would have been about $1018 a month, the payment saver was $639. See the difference? They changed stuff over the years.

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My wife wants a Sienna or Odyssey and want to see what options I have. Neither lease well and ran across this idea but didn’t know how to calculate the RV.

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Penfed has a calculator which allows you to lookup MSRP and RV for a given vehicle. You need to be a member to access it.

Products & Rates → Choose Your Product → Auto → Payment Saver Auto Loan → Estimate my payment

That could be why I can’t find it, but I’m not going to join until I decide if I want to use the loan, but don’t know if I want to use the loan until I know the RV…

Maybe I’ll just join no matter what.

Might be worth it.

It’s only $5.


Their customer service has been great so far. Answering everything by email with responses taking less than 15-20 minutes.

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This is completely wrong. AFG never sold residual insurance or residual values to credit unions. AFG runs a balloon loan program through a bunch of small CUs and a couple big ones (Pen Fed nationwide and SEFCU in NY).

AFG uses a derivative (90% iirc) of straight ALG for the RVs on their balloon loans. Anything branded payment saver is the afg balloon. Because their RVs are so low, you’ll have some equity at the end to trade with but your payments will be a lot higher than your other options with a lease.

Balloons are purchases so you’ll pay sales tax on the full price of the vehicle and you won’t always get the same incentives available on a lease.

CULA used to also offer balloons but we stopped about 5 years ago because the demand for that product was miniscule in most markets. Plus dealers had to explain how it was different and 95% of the customers would choose a lease because it makes more financial sense for them.


Thanks for the info. I just thought it may make sense in regard to the Odyssey and Sienna which lease terrible and tend to hold decent RVs. Just not a pen fed customer to know what their RVs are on those two specific vehicles.

What state/county do you live in? If there is a CU of ours that you can lease through, that is the cheapest way to lease a sienna or odyssey.

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There are some exceptions where the Penfed payment saver has worked out better for me then a lease or traditional finance.

Where the manufacturer is providing more rebates for purchase, versus lease. This was the case for many of the Dodge products, when they were still doing Power Dollars (no more).

Where the manufacturer has restrictive lease terms, for example Tesla or Mercedes, that limit your ability to sell/trade/transfer the lease and where you often will have equity.

Where Penfed has an unusually high MSRP, which does not properly align to the manufacturer MSRP. This happens most often with no option vehicle (ie Hellcat). It’s also well established they don’t verify the options you claim are actually equipped (driving up MSRP).

Where there is no state sales tax, for example NJ when purchasing a zero emissions vehicle.

Lesser known benefits of the program, it includes GAP and deductible insurance. Quite honestly joining for the $5 minimum deposit is a no brainer just for the TDM discounts they offer.

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Do we have to have a checking account open too or just share account is good enough? I created both and getting $10 charged every month from my checking account since I only have minimum. Should I add $500 so that I don’t get charged a service fee or I can close the chrcking and just keep my share account?

The share savings account gets you all the benefits


You just need share savings account.

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