Auto Loans

[TrishN]

maiden-girl is look like my husband b4. When we aapply for capital one is 1 year ago. his credit score is 716, 2 year Crap 1 customer making 60K for year his AAOA 1 years 3 months. No baddie. they Pull all 3 and turn him down. They said short credit history........

[jllunas]

It makes me wonder if capital one just approves people with not so great credit. When they approved me my fico was 678 my wife's fico was 680 we were both out of bankruptcy by then. 

[MovingForward_2012]

Trish, 1 year, 3 mo AAOA is a pretty short history especially if you have had no other auto loans. Lenders don't just look at scores, they also look at income, DTI, AAOA, and for an auto loan, your payment history on previous auto loans. Capital One is subprime and prime. I think their auto loan offers are more towards prime credit as the interest rates are pretty reasonable. And they have both subprime and prime credit cards. That's why I requested more info from OP because no lender is a slam dunk for all bad/limited credit portfolios.

[TrishN]

at that time. his credit limit is 18K , available credit 16K5. Income 60K/year. No baddie,clean report. They turn him down, we went to dealer and got approved 4.5 APR. yuck we never deal with Crap 1 no more

[ds3]

I apped with them in October, and was declined immediately. They seem to hold a grudge if you burn them, which I did on a CC years ago. I went to a dealer and was approved right away with an EX auto-enhanced of 687.

[MovingForward_2012]

His credit limit was 18K? How much utility did he have? Having high utility can hurt when apping for an auto loan. I wouldn't call a bank crappy just because he was denied.

[creditwatcher2012]

Capital One I would said is one of the easier banks to get in with, I was turned down by many banks (including capital one) but eventually got an approval from them (blank check)

[Give_Me_Credit_Please]

Sorry for the late response. I have unsecured Orchard 2.5 years ontime payment, secured Cap1 for 9 months paid ontime, just got approved for Target, Walmart and secured Wells Fargocc. Eq. 615, Exp. 585, TU 595. I have 30 inquiries.??

[MovingForward_2012]

I would wait for some of those inquiries to fall off before apping for a auto loan with Capital One. They don't like a lot of inquiries. Have you had a auto loan in the past, and if so, was it in good standing? Your scores are a bit low so approval could go either way. I would garden your newly obtained cards for awhile while you wait for some of your inquiries to fall off. This will boost your score and give you a better chance of approval.

[Give_Me_Credit_Please]

I haven't had an auto loan in my name since 2005 and was repo, the repo is no longer on my report. Ever since than I haven't applied for any auto loan. I reading alot about Roadloans about success stories so I went online to apply, haven't got a response yet but if approved I'm considering it, even though my interest rate will be high, I have to bit the bullet and refinance once with Cap1 once I re-establish and some of the inquiries fall off. Thanks for the advice, I appreciate it.