Cap1 Auto Navigator Accuracy

[jsucool76]

Hey auto loan peeps, just a few questions, as this is a totally new game for me.


Looking at buying a car (my first) and checked out the auto navigator. Got a soft pull pre-approval for up to 72 months at 2.62% for a new vw golf.

How accurate is this? I know they don't do a hp till you get to a dealership, and I just don't want to go in thinking "2.6%" and then have it come back as like 7. Lol. Is that the rate you're given, or can it change drastically? Any data points appreciated.

[Anonymous]

As long as the information you provided in the prequal is accurate then that is your rate.  You will have to upload income verification and ID i believe.  Take the preapproval to the dealer and walk out with car in 2 hours.

Eazy process

[jsucool76]

Where do I upload documents? If I look at the certificate it says "at this time we don't need anything else from you"

[jsucool76]

When I put in the VIN for the car I wanted (as opposed to the make/model/trim) the rate changed from 2.62% to 1.99%. Weird.


Any other data points on whether or not this estimate is the actual rate I will get should I decide to finance through auto navigator?

[Anonymous]

Would love to hear the follow up if you did proceed with the loan?

I spoke to a Cap 1 rep today (here in the US +1 for Cap 1 not outsourcing that part) and they said that the APR would in fact be within that range. They said it also didn't require a downpayment, but if I chose to put a downpayment it [APR] could go lower than what was listed.

I'm assuming my two credit cards with them is what helps the most?

[jsucool76]

I was pre-approved at 1.9% for 72 months through auto navigator. When I went to the dealership they put through the cap1 application and I did indeed get 1.9% for 72 months, but ended up financing through volkswagen for the incentives.


My one suggestion (which I was told by a cap1 rep) is if you have the Vin for the car you want, use the Vin rather than the make/model list. It is more accurate.