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Valued Member
jenne223
Posts: 41
Registered: ‎10-17-2012
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Cap 1 auto loan question

Has anyone ever had any success in decreasing the APR on a Capital one auto finance through the dealer?

 

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Creditaddict
Posts: 20,880
Registered: ‎10-23-2007
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Re: Cap 1 auto loan question


jenne223 wrote:

Has anyone ever had any success in decreasing the APR on a Capital one auto finance through the dealer?

 


current loan?

or you have been approved through capital one but you want to know if the dealership can beat the APR?

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Valued Member
jenne223
Posts: 41
Registered: ‎10-17-2012
0

Re: Cap 1 auto loan question

Hi,

this is a current loan.
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Creditaddict
Posts: 20,880
Registered: ‎10-23-2007
0

Re: Cap 1 auto loan question

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.

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Established Contributor
Chris123nTx
Posts: 500
Registered: ‎05-11-2007
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Re: Cap 1 auto loan question

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.

Go figure.
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Creditaddict
Posts: 20,880
Registered: ‎10-23-2007
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Re: Cap 1 auto loan question


Chris123nTx wrote:
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.

Go figure.

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!

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Established Contributor
Lasardo
Posts: 746
Registered: ‎04-26-2012
0

Re: Cap 1 auto loan question

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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