11-12-2012 07:43 AM
Has anyone ever had any success in decreasing the APR on a Capital one auto finance through the dealer?
or you have been approved through capital one but you want to know if the dealership can beat the APR?
11-12-2012 02:14 PM
The only way to get a better interest rate is if you refinance it to another bank or trade it in and finance or lease a new car at a better interest rate (new used, New, and New lease).
Otherwise if you already have the car and the loan and have been paying for a bit, no help from dealer on current car.
11-12-2012 02:18 PM
11-12-2012 02:27 PM
I had a cap1 blank check once that I took to a dealer. I had him run my credit to see if he could get me a better rate. Ended up that he couldn't, but what was interesting to me was that in his bunch of replys was one from cap1 with a higher rate and a requirement that I either pay off or trade in the car I owned at the time-one that I planned on keeping. Using the blank check did not have that requirement and I bought the car (Jeep wrangler) that day. Two different groups inside cap1 I reckon.
I had a Santander loan approval at carmax, went to honda and he called his person with santander to get a loan and they flat out denied!
I went back and financed with no issues with santander at carmax... not great rate but I thought that was so silly then!
11-19-2012 12:07 PM
I know Cap1 does not do Refi's, I tried and was told they do not, I was quite upset because on thier website they have a "button" to select and when I was told they do not I had an inquiry on my credit report. I wrote a letter explaining this and they removed it (very surprised)..hope that answers at least half of your question. Not sure on the rest.
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