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Established Contributor
Posts: 586
Registered: ‎07-20-2008
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Auto refinance to Cap One with late payments?

[ Edited ]

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?)



Sigh... Starting over... OpenSkycc $300 08/15 *Chap7 discharged 7/29/15
Established Contributor
Posts: 586
Registered: ‎07-20-2008
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Re: Auto refinance to Cap One with late payments?

I take the silence as a no? lol

Sigh... Starting over... OpenSkycc $300 08/15 *Chap7 discharged 7/29/15
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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.  

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Established Contributor
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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!

Sigh... Starting over... OpenSkycc $300 08/15 *Chap7 discharged 7/29/15
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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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Established Contributor
Posts: 586
Registered: ‎07-20-2008
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Re: Auto refinance to Cap One with late payments?

THANKS guydiver. Info is appreciated.

Sigh... Starting over... OpenSkycc $300 08/15 *Chap7 discharged 7/29/15
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