09-17-2012 11:44 AM - edited 09-21-2012 11:27 AM
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?)
09-21-2012 02:39 PM
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.
09-21-2012 02:55 PM
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!
09-21-2012 03:28 PM
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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