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Established Contributor
westo12
Posts: 584
Registered: ‎07-20-2008
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Auto refinance to Cap One with late payments?

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Has anyone had success with Capital One Auto refi with recent 30 day lates?  Almost feels dumb asking, lol, because I think the answer would be no, but what are the chances that I might be able to refi my existing car loan over to Capital One Auto Refinance with the details below?  

 

Current Loan - $14k bal / $14k value NADA / 12.9% / Santander.  Loan opened in 04/2010.  Depending on which bureau they pull, I have either 4, 5, or 6, 30 day late payments on this loan.  TU: 3/12, 7/11, 5/11, 2/11.  EX: 3/12, 11/11, 10/11, 9/11, 6/11. EQ: 3/12, 11/11, 10/11, 9/11, 6/11, 9/10. 

 

Only one other previous Auto Loan $6k opened 06/2008, paid in full 01/2009. Paid as agreed/never late.

 

Was thinking maybe I'd wait to app after my 3/12 hits six months and the 09/10 hits 2 years (will occur with 9/30 reporting, I believe?)



2014 Starting-618, current TU621 (TU 10/20) / Ending Goal score: 720 / 30 Positive TLs / 1 Negative: Unpaid $312 med CA placed 2010 / reported Install Bal/Lim: 25027/36512 | reported Revolving Bal/Lim: 11169/27232=41%util

**IN the garden until I get some auto CLI's on major accts**
Established Contributor
westo12
Posts: 584
Registered: ‎07-20-2008
0

Re: Auto refinance to Cap One with late payments?

I take the silence as a no? lol

2014 Starting-618, current TU621 (TU 10/20) / Ending Goal score: 720 / 30 Positive TLs / 1 Negative: Unpaid $312 med CA placed 2010 / reported Install Bal/Lim: 25027/36512 | reported Revolving Bal/Lim: 11169/27232=41%util

**IN the garden until I get some auto CLI's on major accts**
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Revelate
Posts: 9,765
Registered: ‎12-30-2011
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Re: Auto refinance to Cap One with late payments?

Nah, just this board doesn't get as much traffic honestly as some other places on the forum.

 

I think it's still possible if you meet their underwriting criteria, but it's certainly not an ideal situation to be in.  I also don't know how C1 is period on refi's, generally speaking most people on this forum tend to do a lot better chasing a CU refinance than any of the major lenders.  

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Established Contributor
westo12
Posts: 584
Registered: ‎07-20-2008
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Re: Auto refinance to Cap One with late payments?

Thank you for the info, it's appreciated.  I contacted a CU today about trying to open an account. Hopefully I can make something happen!

2014 Starting-618, current TU621 (TU 10/20) / Ending Goal score: 720 / 30 Positive TLs / 1 Negative: Unpaid $312 med CA placed 2010 / reported Install Bal/Lim: 25027/36512 | reported Revolving Bal/Lim: 11169/27232=41%util

**IN the garden until I get some auto CLI's on major accts**
Established Contributor
guydiver
Posts: 582
Registered: ‎08-30-2007
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Re: Auto refinance to Cap One with late payments?

CU is your best bet.  Even IF you can get other financing, with your history and score I doubt you could beat your current rate.  FYI: Cap1 would pull all three CR's.  Also, a credit union will still be DTI sensitive but most will finance up to 100% of the LTV if you qualify.  Good luck.

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Starting Score: 1/05 upper 500's??Current Score: FICO: EQ 730ish, TU 748(Barclay), EX 748(CS) Goal Score: .....800 IS ON MY BUCKET LIST! New DCU Member! .:smileyvery-happy:
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Established Contributor
westo12
Posts: 584
Registered: ‎07-20-2008
0

Re: Auto refinance to Cap One with late payments?

THANKS guydiver. Info is appreciated.

2014 Starting-618, current TU621 (TU 10/20) / Ending Goal score: 720 / 30 Positive TLs / 1 Negative: Unpaid $312 med CA placed 2010 / reported Install Bal/Lim: 25027/36512 | reported Revolving Bal/Lim: 11169/27232=41%util

**IN the garden until I get some auto CLI's on major accts**

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