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Auto refinance to Cap One with late payments?

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westo12
Established Contributor

Auto refinance to Cap One with late payments?

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?)



Chap7 discharge 07/2015
Fico 5/1/19: TR:650(73% util)
Cap1(Plat+QS) 3500+4500/Merrick 1600/Express 4100/Overstock 4900.
Message 1 of 6
5 REPLIES 5
westo12
Established Contributor

Re: Auto refinance to Cap One with late payments?

I take the silence as a no? lol

Chap7 discharge 07/2015
Fico 5/1/19: TR:650(73% util)
Cap1(Plat+QS) 3500+4500/Merrick 1600/Express 4100/Overstock 4900.
Message 2 of 6
Revelate
Moderator Emeritus

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.  




        
Message 3 of 6
westo12
Established Contributor

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!

Chap7 discharge 07/2015
Fico 5/1/19: TR:650(73% util)
Cap1(Plat+QS) 3500+4500/Merrick 1600/Express 4100/Overstock 4900.
Message 4 of 6
guydiver
Established Contributor

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.

Message 5 of 6
westo12
Established Contributor

Re: Auto refinance to Cap One with late payments?

THANKS guydiver. Info is appreciated.

Chap7 discharge 07/2015
Fico 5/1/19: TR:650(73% util)
Cap1(Plat+QS) 3500+4500/Merrick 1600/Express 4100/Overstock 4900.
Message 6 of 6
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