cancel
Showing results for 
Search instead for 
Did you mean: 

Capital One Auto Navigator

tag
Anonymous
Not applicable

Capital One Auto Navigator

So the husband and and I were pre approved of 40k through Auto Navigator. We want a car that's around 16-17k. How do I make sure at the dealership the runs our credit to be linked with Capital ones pre approval? We went to one earlier this week thy pulled our credit and told us we had to put 5k down in a 25k car. I asked them if this is what cap is saying and the told me " yeah that's capital ones best offer". The finance manager then said " basically we are capital one". I left the dealership and called in only to find out that they never sent our credit report to capital one. I disputed on my credit reports and the inquiries came off. How can I be sure this doesn't happen again. Also if I'm pre approved for 40k is a down payment necessary for an 18k loan if everything goes through, meaning if I'm approved for the full 18k? At that point is a down payment optional? I have about 2k just in case I need to put something down.. thanks guys!
4 REPLIES 4
pauper66
Valued Member

Re: Capital One Auto Navigator

I've been car shopping, and went to my CU with a load of questions first. A big part of it is loan to value ratio. If you want a 40k car loan, basically, you need to buy a 40k car.

They told me I prequalify for 43k, when I presented them with a 43k vehicle, (new Toyota), but told me they would only finance 20k on a one year old Nissan priced at 23k.

Message 2 of 5
Anonymous
Not applicable

Re: Capital One Auto Navigator

I have used the Capital One Auto prequalify twice.  Once back in 2011 and I had a preapproval for 25000 and I bought a 2 year old truck for 25500 and I paid the difference.  The second time was last year and I bought a 2016 Accord new and my prequalify was for 35000 and the car was 26000.  I paid nothing down and was not asked for any money.  I told the Honda dealership I wanted to use my prequalify letter and they said no problem.  You should have no problem not using the full amount, why over extend yourself if you dont have to.  I beleive you can also check online which dealerships accept the capital one prequalify for your area.  Good Luck

 

Message 3 of 5
srob67
New Contributor

Re: Capital One Auto Navigator

Is this a hard pull and as long as the price is below the approval of loan you shouldn't have to put any money down?

Message 4 of 5
Anonymous
Not applicable

Re: Capital One Auto Navigator

We used this in March just 2 wks after a BK13 discharge.  We were declined by multiple lenders or offered crazy interest rates before we found Cap One Auto Nav program.  We pre-qual for $40k.  Picked out a 2016 Mercedes for $59k at CarMax.  I put $23k down and walked out with $40k loan at 4.93%.  The only reason I had to put money down was because the total cost was over $40k.  It was seriously the easiest process ever.  I told Carmax about the prequal upfront.  

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.