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Capital One Auto Navigator

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Anonymous
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Capital One Auto Navigator

Is the Capital One Auto Navigator pre-qualification process a hard inquiry or does it become a hard inquiry once you go to a dealership?

Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: Capital One Auto Navigator

They are both hard inquiries. Capital One will pull your credit, and when you go to the dealership, you have to fill out an application and they will pull your credit as well.

Message 2 of 10
Skye12329
Valued Contributor

Re: Capital One Auto Navigator

Well when you apply and get approved with cap1 you can print your approval off with the code. That's one set of inquiries from cap1. You would not need to incur anymore inequiries from the dealership since you would already have the approval and loan from cap1.

Only time the dealer will add more inquiries is basically when you give them the permission to run your credit against other banks.
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Cap1 QS - 2k (4/21)
Mission Lane - 4k (11/21)
Venmo - 900 (11/21)
SavorOne - 2500 (12/21)
VentureOne - 2000 (7/22)
Message 3 of 10
fury1995
Valued Contributor

Re: Capital One Auto Navigator

This is not necessarily true. Yes. The dealership will run your credit but not to submit your application to another bank. This subject has been a long running bone of contention between consumers and car dealers.

OFAC is the number TWO reason a dealer will ask for a completeday credit application, even when the consumer is holding a preapproval or an actual check for that matter.

The number one reason? Identity. Too often, cars are stolen under the guise of fraud. All the ID's in the world cannot replace the information contained in your credit report and "red flags" security questions. A fake ID and a fake check is all it would take to make off with a $50,000 car. It does happen.. I wouldn't want anyone posing as me making a purchase of that magnitude and getting away with it.
August 28, 2023 FICO 8

August 28, 2023 FICO BankCard 8

August 28, 2023 FICO Auto 8

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Message 4 of 10
Anonymous
Not applicable

Re: Capital One Auto Navigator

I am asking how far can I get in the navigator process before it is a hard pull? It says it is not an application for credit, so can I go through the process and not view or print the actual offer and it not be a hard inquiry?

Message 5 of 10
fury1995
Valued Contributor

Re: Capital One Auto Navigator


@Anonymous wrote:

I am asking how far can I get in the navigator process before it is a hard pull? It says it is not an application for credit, so can I go through the process and not view or print the actual offer and it not be a hard inquiry?


Sorry OP. Yes, the long form for the pre-qual (in my understanding) is a hard inquiry. The disclaimer also includes a written authorization by you to allow Capital One access to your credit report. Soft pulls do not require this disclaimer. Also, in the FAQ's, one of the questions provides instructions ro follow if someone used the Auto Navigator tool fraudulently to obtain a prequalified offer under your name. I would assume that would be known becuse an inquiry was genrated.

 

The language regarding application... the actual application for Capital One has always been incomplere unless that actual collateral was included.. (year, make, model, options, miles, term requested, proof of income, proof of residency etc). Then it becomes a complete application for credit.

 

Does this help?

August 28, 2023 FICO 8

August 28, 2023 FICO BankCard 8

August 28, 2023 FICO Auto 8

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Message 6 of 10
Anonymous
Not applicable

Re: Capital One Auto Navigator


@fury1995 wrote:

@Anonymous wrote:

I am asking how far can I get in the navigator process before it is a hard pull? It says it is not an application for credit, so can I go through the process and not view or print the actual offer and it not be a hard inquiry?


Sorry OP. Yes, the long form for the pre-qual (in my understanding) is a hard inquiry. The disclaimer also includes a written authorization by you to allow Capital One access to your credit report. Soft pulls do not require this disclaimer. Also, in the FAQ's, one of the questions provides instructions ro follow if someone used the Auto Navigator tool fraudulently to obtain a prequalified offer under your name. I would assume that would be known becuse an inquiry was genrated.

 

The language regarding application... the actual application for Capital One has always been incomplere unless that actual collateral was included.. (year, make, model, options, miles, term requested, proof of income, proof of residency etc). Then it becomes a complete application for credit.

 

Does this help?


Yes, thank you. I think maybe you actually have to accept the offer. I was curious and completed it the other day without accepting the offer, and I have not received any inquiries on my reports. I'm not hard pressed to get a car right now, but maybe in the next 6 months. It came back with a rate of 2.45%, which is not bad and probably very close to what I would receive from American Honda Finance, which is who I financed through the last time a purchased a car.

Message 7 of 10
fury1995
Valued Contributor

Re: Capital One Auto Navigator


@Anonymous wrote:

@fury1995 wrote:

@Anonymous wrote:

I am asking how far can I get in the navigator process before it is a hard pull? It says it is not an application for credit, so can I go through the process and not view or print the actual offer and it not be a hard inquiry?


Sorry OP. Yes, the long form for the pre-qual (in my understanding) is a hard inquiry. The disclaimer also includes a written authorization by you to allow Capital One access to your credit report. Soft pulls do not require this disclaimer. Also, in the FAQ's, one of the questions provides instructions ro follow if someone used the Auto Navigator tool fraudulently to obtain a prequalified offer under your name. I would assume that would be known becuse an inquiry was genrated.

 

The language regarding application... the actual application for Capital One has always been incomplere unless that actual collateral was included.. (year, make, model, options, miles, term requested, proof of income, proof of residency etc). Then it becomes a complete application for credit.

 

Does this help?


Yes, thank you. I think maybe you actually have to accept the offer. I was curious and completed it the other day without accepting the offer, and I have not received any inquiries on my reports. I'm not hard pressed to get a car right now, but maybe in the next 6 months. It came back with a rate of 2.45%, which is not bad and probably very close to what I would receive from American Honda Finance, which is who I financed through the last time a purchased a car.


That's pretty good from Capital One. I have 1.99% from them and that's the lowest I've seen from them.

August 28, 2023 FICO 8

August 28, 2023 FICO BankCard 8

August 28, 2023 FICO Auto 8

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Message 8 of 10
Anonymous
Not applicable

Re: Capital One Auto Navigator

I did this a few days ago and it was a soft pull for me (Transunion I think). I do have accounts with Cap so maybe a hard pull wasn't necessary.

Message 9 of 10
Anonymous
Not applicable

Re: Capital One Auto Navigator

 I had this same question as well. According to the Capital One site, the pre-approval would be a soft pull, and when you go to the dealership and get everything squared away, that would be a hard pull:

 

"Get pre-qualified

See if you’re pre-qualified for auto financing with no risk to your credit score.

Compare your options

Know your estimated monthly payment and APR for the vehicle you want.

Visit an eligible dealer

Take your Auto Navigator Financing Certificate to an eligible dealer.

Complete your financing

Fill out a credit application and sign a contract at the dealer."

 

So this tells me that you can be pre-approved, and then denied once a hard pull is done.

Message 10 of 10
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