Questions about Capital One Blank Check requirements

[shazu]

Hi, I was approved for up to $25,000 auto loan with Capital One. I already have 2 credit cards with them (one original, one used to be Orchard Bank). 

My question is, under requred documentation online, they only list documents requred from the dealer, no proof of income or residency from me. I have not gotten the loan package or check in the mail yet, but I'm wondering if I will still be asked to provide proof of income/an ID/etc. once the loan package comes in, or would they have mentioned it on the website when I log in to see the status of my application? I just want to get everything ready. Does anyone have experience with this?

I'm also wondering about the LTV percentage. I don't see it listed there, only a note that the maximum amount they will loan me must meet those requirments, but they don't give me a specific %. Is there a way to find this?

Thank you.

[Creditaddict]

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@shazu wrote:

Hi, I was approved for up to $25,000 auto loan with Capital One. I already have 2 credit cards with them (one original, one used to be Orchard Bank). 

My question is, under requred documentation online, they only list documents requred from the dealer, no proof of income or residency from me. I have not gotten the loan package or check in the mail yet, but I'm wondering if I will still be asked to provide proof of income/an ID/etc. once the loan package comes in, or would they have mentioned it on the website when I log in to see the status of my application? I just want to get everything ready. Does anyone have experience with this?

I'm also wondering about the LTV percentage. I don't see it listed there, only a note that the maximum amount they will loan me must meet those requirments, but they don't give me a specific %. Is there a way to find this?

Thank you.

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you applied and were approved already? at what rate? you should be able to access the loan documents with what documents they will need you to provide at dealership for proof and ltv and rates etc.

[Slim1Der]

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@shazu wrote:

Hi, I was approved for up to $25,000 auto loan with Capital One. I already have 2 credit cards with them (one original, one used to be Orchard Bank). 

My question is, under requred documentation online, they only list documents requred from the dealer, no proof of income or residency from me. I have not gotten the loan package or check in the mail yet, but I'm wondering if I will still be asked to provide proof of income/an ID/etc. once the loan package comes in, or would they have mentioned it on the website when I log in to see the status of my application? I just want to get everything ready. Does anyone have experience with this?

I'm also wondering about the LTV percentage. I don't see it listed there, only a note that the maximum amount they will loan me must meet those requirments, but they don't give me a specific %. Is there a way to find this?

Thank you.

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Capitol One usually gives approvals of 125% LTV plus warranty & GAP. Warranty maxing out at $2250 and GAP at $500-$750. If your current address comes up on your credit report, then they usually waive the Proof of Residence requirement. Proof of income may be required if W2 employee and most always will be required if SELF employed in the form of 3 months bank statements and/or 2 year tax returns.

You have a relationship with them so this may or may not apply to you.

[Misstasha]

I don't know if this is required for you but for me I was required to upload one paystub, type in 2 references, and upload government issued ID. If you login to check the status of your application there will be a tab for required documents. I also have two cap1 cards if this helps. You can also call and hear what is required for your loan. 

[Anonymous]

Did they pull all 3 CR? What were your scores?