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Regular Contributor
Posts: 147
Registered: ‎06-20-2011
0

Re: Capital one auto financing!!

Thank you guys so much!!! This sounds promising!!! Thanks again!

Starting Score: TU 640, EQ 636, EX 645
Current Score: TU 665, EQ 706, EX ?
Goal Score: All above 700


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Regular Contributor
Posts: 237
Registered: ‎07-13-2012
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Re: Capital one auto financing!!

I received an offer from Capital One last Summer. Was in the market for a vehicle so it was good timing. Looked at their approved dealers in my area and found a vehicle that I liked.  Test drove it, things were good so I made the purchase. I couldn't take the vehicle right away. Had to wait a few days until they were paid by Cap 1. Financed the vehicle and included sales tax too. I know, not a good idea but I needed to get out of the SUV that was costing me close to $450. per month for gas. The loan for that was in a relative's name (also used Cap 1). Now I only spend about $160. per month for gas and try to pay more on the loan. Payments over the regular amount has to be done over the phone with no fee. Other than that, everything is fine. Financed $12,700 for 72 months at 17.1%. I'm going to try to knock it down over the next year and refinace at a lower rate. Might end up upside because of the high rate. If so, I'll just chalk it up to the cost of having bad credit when I started. Things are getting better. 

EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
Regular Contributor
Posts: 147
Registered: ‎06-20-2011
0

Re: Capital one auto financing!!

Thank you!! Do you know what your credit score is?

Starting Score: TU 640, EQ 636, EX 645
Current Score: TU 665, EQ 706, EX ?
Goal Score: All above 700


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Regular Contributor
Posts: 237
Registered: ‎07-13-2012
0

Re: Capital one auto financing!!

Just looked through the folder and saw that it was 520. Damn! It's jumped up a lot in 10 months! 

EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
New Contributor
Posts: 58
Registered: ‎04-15-2009
0

Re: Capital one auto financing!!

Got 1.39% over the weekend with Capital 1 at the dealer over 36 months.  Prior to running the credit, the dealer told us 3.79% so I told them that I could get 1.99% through Penfed.  I was suprised at the rate when I was locked in the room with the finance guy.

American Express SPG, Chase Freedom, Citi Forward, Citi Dividend World Elite, Discover More, Penfed Platinum Rewards, Kohls
Regular Contributor
Posts: 147
Registered: ‎06-20-2011
0

Re: Capital one auto financing!!

Wow! That's awesome. Congrats. I thought if you use capital one that the dealer doesn't run your credit. That you show up with a blank check from capital one. Idk

Starting Score: TU 640, EQ 636, EX 645
Current Score: TU 665, EQ 706, EX ?
Goal Score: All above 700


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Regular Contributor
Posts: 237
Registered: ‎07-13-2012
0

Re: Capital one auto financing!!

My credit score was provided by Cap 1 when they sent me the check.

 

 

EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
New Contributor
Posts: 58
Registered: ‎04-15-2009
0

Re: Capital one auto financing!!

I think in my case, capital one was one of the banks the dealers used.  So this is different than showing up with a blank check after you get approved.  So if you got exellent credit, it might be worthwhile to see what the dealer can give you.

 

It showed up on my report as two inquiries though.  One for dealer to check our credit, second one by capital one to all three bureaus to obtain the loan.  

American Express SPG, Chase Freedom, Citi Forward, Citi Dividend World Elite, Discover More, Penfed Platinum Rewards, Kohls
Regular Contributor
Posts: 147
Registered: ‎06-20-2011
0

Re: Capital one auto financing!!

Thanks for the info. The good news is when you have a bunch of inquiries in a 30 day time frame while car shopping they only count as one. Yay!! Getting excited. Gonna buy in the next 6 months!

Starting Score: TU 640, EQ 636, EX 645
Current Score: TU 665, EQ 706, EX ?
Goal Score: All above 700


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Contributor
Posts: 230
Registered: ‎10-01-2012
0

Re: Capital one auto financing!!

Great thread.  I'm considering Cap 1 now.  I keep getting the preapproval letters and emails every month for a different dealer, so I hope I can go to a different dealer than the one they're featuring that month.  My scores are in the low 600s but I'm waiting to respond to the preapproval when my score is closer to 680.  I've been cleaning it up and waiting on about 5 collection deletions, a 120 day late removal, and a possible judgment removal.  That should all happen within the next 2-3 weeks so then I hope to be a lot higher when I answer the call!  But it sounds like they're pretty reasonable either way.  I'm really excited about it so its good to find this thread!

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