TYSONS, Va.–PenFed Credit Union has begun offering a $200 bonus for financing an auto loan as well as $150 for using a PenFed checking account to make two months of automatic payments for the full amount due. The deal runs through May 12.

To qualify for the full bonus, members must finance an auto purchase or refinance a current auto loan from another lender with a PenFed auto loan and use a PenFed checking account to make two monthly recurring payments on an auto loan funded at greater than $10,000. 

Both bonuses will be deposited into members’ accounts on Oct. 15.

Loans Up to $150,000

PenFed is offering auto loans are up to $150,000 and members can view their pre-qualified loan offers with a soft pull, so their credit scores aren’t affected, PenFed said.

Rates for new car loans start as low as 3.79% APR for members using the PenFed Car Buying Service powered by TrueCar, it said.